Exxon Mobil reports $11,000,000,000.00 in quarterly profits
Exxon Mobil Corp.'s first-quarter profit rose 17 percent from a year ago, as soaring crude oil prices helped the company reach its second-largest U.S. quarterly profit ever.
The Irving-based oil giant earned $10.89 billion, or $2.03 per share, for the quarter, compared with $9.28 billion, or $1.62 per share, a year ago.
Revenue jumped to $116.85 billion from $87.22 billion last year.
However, the company's results for the quarter missed analysts' expectations for earnings of $2.13 per share on revenue of $124 billion, according to Thomson Financial.
"Higher crude oil and natural gas realizations, driven by record worldwide crude oil prices, were partly offset by lower refining and chemical margins, lower production volumes and higher operating costs," Exxon Mobil (NYSE: XOM) said.
The company spent $5.5 billion on capital and exploration projects, up 30 percent from $4.22 billion a year ago.
Exxon Mobil said earnings at its upstream, or exploration and production, business rose 45 percent to $8.79 billion, helped by higher crude oil and natural gas prices. Increased natural gas production was more than offset by lower crude oil volumes, the company said.
Earnings from its downstream, or refining and marketing, business fell 39 percent to $1.17 billion. The company said significantly lower worldwide refining margins decreased earnings by about $1 billion in the quarter, while improved refinery operations increased earnings about $350 million.
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- groups:
- News and Politics, Politics, Current News US
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- Conniepae
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58% of the $14.5 Billion Energy Bill went to OLD ENERGY.
All while they are making record profits.
Funny how people still don't believe in global warming.
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- 1Eco_Media
- 1 year ago
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Detailed Energy Bill source
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- 1Eco_Media
- 1 year ago
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Climate Change could force 1 Billion from their homes by 2050
just more crap from the going green corporation I guess.
what corp. is that, by the way.
I did see Gore raised $638 million to talk about climate change. Is that the corporation you are posting about?
did you see the video showing the reduction in both polar ice caps by the way?
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- 1Eco_Media
- 1 year ago
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Al Gores movie and statements on "global warming" have no place in any serious discussion about energy and climate. Gore is a nut case and his movie is a crock. It was a political statment, not an environmental statement.
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Paratus, I don't think I have seen your movie or am aware of how you are so much smarter.
Nut case is name calling and a very republican trait. I'm sorry, but I'll take facts over name calling to evaluate and make my judgement.
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Sinful.
These astronomical profits don't even figure in the $billions in health costs, environmental clean-up, prescription drugs for asthma and other oil pollution related epidemics, not to mention the priceless loss of life.
What are our congress people doing to stop this redistribution of wealth from the majority of Americans to the richest 1 1/2%?
Oh, I guess they are clipping their coupons from their oil investments.
Call and write your congresspeople and ask them why they can't cut the bureaucratic red tape and stop these thieves.
http://www.congress.org/congressorg/directory/congdir.tt?command=congdirThen check out news from Bill Brown in Taos, NM at www.nmglobalwarming.org on how renewable energy solutions are up and ready to go, once we have congressional leadership.
http://current.com/items/88930061_researchers_claim_photovoltaic_cell_advance
http://www.solarpowerconference.com/And write your congresspeople to tell them where to go to learn about renewable energy solutions.
Photo of Oil Derek in California by Marvin Leonard, Manchester, UK
http://flickr.com/people/nystateofmind/ -
GO TO HELL EXXON MOBILE. SHAME ON YOU FOR TAKING ADVANTAGE OF THE AMERICAN PEOPLE THAT SUPPORT YOU.
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Boycotting Exxon is a good idea.
Exxon is causing death and destruction in Africa because it burns the gas produced in oil drilling and productions instead of piping it out as a product, thus polluting air and water for African families.
In Kenya, the women organized a protest against Exxon and its polluting practices by baring their breasts en masse causing the government to take notice.
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conniepage: I'm not a republican. I'm Independant-not that it matters.
For those of you who think the oil companies need to be taxed consider this.
In 2006 the consolidated Oil Industry had net income of 131,480 ( in millions). They paid 71.3% tax on this in total income tax, excise taxes and property/windfall profits tax. Their net income was something like 8.5%. They paid more in tax than they made. Their income tax rate alone was 26.5%.If y ou are looking for culprits in this gas price runup look to the governments. Teh federal gas tax is $.18 per gallon. The federal exercise tax per gallon is $.184. Just Virginia, as an example, has a state gas tax of @.1961 per gallon and a 5% sales tax. This is $.5616 per gallon. If you are in the Peoples Republik of Maryland the state gas tax is even higher, something like $.24 per gallon. Folks, the government is gouging us.
