US Presidential Elections thread - the fate of the world to be decided (4 Viewers)
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Exxon Mobil posts $40.6 billion annual profit
Oil giant breaks record for largest annual profit by a U.S. company
HOUSTON - Exxon Mobil Corp. on Friday posted the largest annual profit by a U.S. company — $40.6 billion — as the world's largest publicly traded oil company benefited from historic crude prices at year's end.
Exxon also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, besting its own mark of $10.71 billion in the fourth quarter of 2005.
The previous record for annual profit was $39.5 billion, which Exxon Mobil reported for 2006.
The eye-popping results weren't a surprise given record prices for a barrel of oil at the end of 2007. For much of the fourth quarter, they hovered around $90 a barrel, more than 50 percent higher than a year ago.
Crude prices reached an all-time trading high of $100.09 on Jan. 3 but have fallen about 10 percent since.
The record profit for the October-December period amounted to $2.13 a share versus $1.76 a share in 2006. Year-ago net income was $10.25 billion.
Also extraordinary was Exxon Mobil's revenue, which rose 30 percent in the fourth quarter to $116.6 billion from $90 billion a year ago.
For the year, sales rose to $404.5 billion — the most ever for the Irving, Texas-based company — from the $377.64 billion it posted in 2006.
In a statement, Exxon Mobil Chairman Rex Tillerson said the company continued to meet the world's energy needs through its "globally diverse resource base."
"Our long-term investment program, in projects often far from major consuming nations, continued to provide resources essential to the increasingly interdependent global energy supply network," Tillerson said.
Exxon Mobil produces about 3 percent of the world's oil.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
I thought the economy was down.
Oil giant breaks record for largest annual profit by a U.S. company
HOUSTON - Exxon Mobil Corp. on Friday posted the largest annual profit by a U.S. company — $40.6 billion — as the world's largest publicly traded oil company benefited from historic crude prices at year's end.
Exxon also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, besting its own mark of $10.71 billion in the fourth quarter of 2005.
The previous record for annual profit was $39.5 billion, which Exxon Mobil reported for 2006.
The eye-popping results weren't a surprise given record prices for a barrel of oil at the end of 2007. For much of the fourth quarter, they hovered around $90 a barrel, more than 50 percent higher than a year ago.
Crude prices reached an all-time trading high of $100.09 on Jan. 3 but have fallen about 10 percent since.
The record profit for the October-December period amounted to $2.13 a share versus $1.76 a share in 2006. Year-ago net income was $10.25 billion.
Also extraordinary was Exxon Mobil's revenue, which rose 30 percent in the fourth quarter to $116.6 billion from $90 billion a year ago.
For the year, sales rose to $404.5 billion — the most ever for the Irving, Texas-based company — from the $377.64 billion it posted in 2006.
In a statement, Exxon Mobil Chairman Rex Tillerson said the company continued to meet the world's energy needs through its "globally diverse resource base."
"Our long-term investment program, in projects often far from major consuming nations, continued to provide resources essential to the increasingly interdependent global energy supply network," Tillerson said.
Exxon Mobil produces about 3 percent of the world's oil.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
I thought the economy was down.
We can thank our government for not only failing to stop macro-price gauging, but aiding them in doing so as well.
But I do have to admit that the $100 /barrel light sweet crude is totally reasonable at the moment. Apparently ExxonMobil has done well maximizing profit under the current market conditions. I'd love to know exactly how, though. Higher pricing isn't always due to macro-price gauging, however.
But I do have to admit that the $100 /barrel light sweet crude is totally reasonable at the moment. Apparently ExxonMobil has done well maximizing profit under the current market conditions. I'd love to know exactly how, though. Higher pricing isn't always due to macro-price gauging, however.
If you're only gonna watch one presidential debate, you might as well make it this one 
http://www.wakeupfromyourslumber.com/node/5557
http://www.wakeupfromyourslumber.com/node/5557
If you're only gonna watch one presidential debate, you might as well make it this one
http://www.wakeupfromyourslumber.com/node/5557
http://www.wakeupfromyourslumber.com/node/5557
If you're only gonna watch one presidential debate, you might as well make it this one
http://www.wakeupfromyourslumber.com/node/5557
http://www.wakeupfromyourslumber.com/node/5557
MOS DEF is the epitomy of ignorance
no doubt if he wasnt a rap artist, he'd be jobless and sucking away on the system and my tax dollars
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