Nov 01 2008
US major oil companies are yet again showing record profits for the 3rd quarter of 2008
In the news last night was the story of Exxon Mobile and their record profits for the second quarter of this year.Well I thought I would investigate that story to see if there may be more to it.
Well not only has Exxon Mobile claimed and showed record profits but so has all of the other major oil companies. Now this is after all of the bills have been paid as well as the big over hauls that they did after Hurricane Katrina and Gustav. These are their profits after they have been charging people over $5 a gallon in some places.
Exxon Mobile posted their earnings for the third quarter on October 30, 2008. They show a profit of 13,380 million dollars which is a 42% increase from the third quarter of last year. If you don’t believe me take a look at the release yourself by clicking here.
Rex W. Tillerson the chairman of Exxon Mobile said, ” Exxon Mobile’s strong results in the third quarter of 2008 demonstrate the continued success of our disciplined business approach.”
Chevron is also reporting record earnings of 7.9 billion for the third quarter of 2008 which is much higher than the 3.7 billion from their third quarter earnings of 2007. See there report by clicking here.
Conoco Philips is just like the rest, they are reporting 5,188 million dollar earnings for the third quarter of 2008 which once again is way above what their earnings where in the third quarter of 2007 which was 3,673 million dollars. Read their report by clicking here.
BP is reporting 10,029 million dollar profits for the third quarter of 2008. There profit in 2007 for the third quarter was 4,043 million dollars. This is an increase of 148%. Read there report by clicking here.
Well my quote is, “Once again all major oil companies have price gouged it’s buyer’s simply for the purpose of making more money on the backs of the hard working American public, while doing more damage to the economy as a whole. Because of the extremely high gas prices over the last several months, people decided to stay home thus buying less which caused many businesses to loss money.”
Way to go all you big oil companies for helping our economy go into the toilet! We can’t just blame the banks and housing industry anymore. Big thumps down for the mess you all helped to create.
Not only that, they have messed the Environment up also..that has made the situation even more crappy.