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Exxon Mobil Posts Record Profit

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Posted on Feb 1, 2007

The oil company notched an annual profit of $39.5 billion, the largest ever by a U.S. company. You can leave your Ph.D. at home when connecting the dots between this and the Iraq war.


AP:

Oil giant Exxon Mobil Corp. on Thursday posted the largest annual profit by a U.S. company—$39.5 billion—even as earnings for the last quarter of 2006 declined 4 percent.

The 2006 profit topped the previous record, also by Exxon Mobil, of $36.13 billion set in 2005. The record earnings amounted to roughly $4.5 million an hour for the world’s largest publicly traded oil company, which produces about 3 percent of the world’s oil.

It also equals the approximate gross domestic product—a measure of all goods and services produced within a country in a given year—of countries like Ecuador, Luxembourg and Croatia.

Also eyepopping was Exxon Mobil’s revenue, which rose to $377.64 billion for the year, surpassing the record $370.68 billion it posted in 2005.

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By Sean OReilly, February 2, 2007 at 5:46 am Link to this comment
(Unregistered commenter)

You site this as if the connection were obvious but there is no obvious connection between this and the Iraq war. I’m not saying you are wrong but you have to have a bit more documentation that this.

This is akin to all the gibberish about global warming. Despite all the “evidence” we still know very little about long term weather patterns. So my point is that everybody doesn’t just know that because the oil companies are making money that it is definitively linked to the Iraq war. I’d like to know specifically how it is linked.

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By Christopher Robin, February 1, 2007 at 8:12 pm Link to this comment
(Unregistered commenter)

Sen. Stevens from Alaska must be dancing a jig.

We have our old house at 60 degrees. Close up the living room were in, and supplement with a space heater. For many years before 68 was the slightly chilly norm.
In the evenings I step out the door and smell wood smoke.

I shouldn’t complain, we could afford to pay and heat the house to a comfortable level. But I’ll be damn to give one cent more to these S.o.b.‘s

I know there are many families, in our state that aren’t doing without by choice. But rather, they just don’t have the possible means to fill that oil tank. And fear freezing the water pipes trying to keep the heat just high enough not to do damage.

They sneer when oil is offered from the dictator in Argentina. If I was in their shoes? could I be so proud as not to accept the aid? If I had to make the choice to make the mortgage payment and heat the home for the family?

Pride be damned.

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