While I was just looking through news I came across Exxon’s quarterly numbers and found the CNN quote to be quite interesting.
NEW YORK (CNNMoney.com) — Record oil prices netted Exxon Mobil a $10.89 billion profit in the first three months of the year, sharply higher than a year earlier but short of Wall Street estimates and below what was needed to set a new all-time profit record.
The profit was still enough to be the second-highest U.S. corporate profit on record, falling just short of the record $11.66 billion Exxon Mobil (XOM, Fortune 500) earned in the fourth quarter. The profit came to $1,385 a second, enough to buy nearly 382 gallons of gas at current prices.
The sheer size of the Exxon profit reported Thursday will still likely attract attention from consumer groups and lawmakers, who have been arguing for higher taxes on oil companies amid soaring gas and oil prices.
At this point I would hate to lean one way or another but this will surely be a major issue in the upcoming election. Perhaps I’ll try a quote of the day more often…
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