Thursday, April 27, 2006

Exxon Has 5th Highest Profit Quarter Ever with $55 a Barrel Oil, What Awaits 2nd Quarter?

Dear President Bush,

Your 2005 Energy plan is generating incredible profits for the oil industry and a severe burden for low income families. Exxon/Mobile made over $8.4 billion the first quarter of 2006 while oil averaged $55 a barrel. Now that it is closer to $75, how much higher will 2nd quarter profits be? Time will tell.

1 comment:

Unknown said...

Not only is their profit margin disgusting on every level..the golden parachure by that jabba-the-hut freak should piss off the stock holders as well as the general public..Its not "he" did anything to build up those profits..what kind of business model gives you a 46% profit?