Exxon Quarterly Profit Exceeds Annual GDP of UAE, Kuwait
That's right. According to the CIA, Exxon makes more in one quarter than the nations of the UAE or Kuwait make in the entire year.
Exxon's revenue for the three-month period was still greater than the annual gross domestic product of some major oil producing nations, including the United Arab Emirates ($74.67 billion) and Kuwait ($55.31 billion), according to statistics maintained by the Central Intelligence Agency.But, they have the nerve to blame OPEC for rising gas prices.
[Exxon] the world's largest oil company, reported Thursday the fifth highest quarterly profit for any public company in history, posting gains from higher oil prices that were likely to stoke the furor over outsized oil company earnings.AAAWWWWW! They didn't make as much as they expected to. My heart bleeds for them - and I mean that quite literally - straight from my wallet.
Despite the 7 percent gain in earnings to more than $8 billion in the first quarter, Exxon Mobil said its earnings came in below its record fourth-quarter because all three of its business - exploration and production; refining; chemicals - didn't perform as well.
The earnings report comes amid consumer outcry in the U.S. about soaring gasoline prices. The average retail price of gasoline in the U.S. is now $2.91 a gallon, or 68 cents higher than a year ago.And we're supposed to believe that this is a coincidence?
It also comes as Washington lawmakers are looking to appease consumers with various proposals to make big oil companies pay more taxes or provide consumers with some other relief.Now, you know what they do with all their profits. America, the bastion of freedom has turned into a cesspool of corruption where lawmakers don't look for REAL solutions - they 'look to appease consumers.' Throw them a bone and rub their bellies, they'll feel better after a coke and smile!
In January, Exxon posted the highest quarterly profits of any public company in history: $10.71 billion for the fourth quarter of 2005 and $36.13 billion for the full year.So, EXXON is number 1 and number 5! Maybe they're also numbers 2, 3, and 4!
Earth to America! This is a wakeup call.
Big Oil has been robbing us blind for over a century. It's time to put a stop to this travesty.
The paltry measures they're proposing are not enough. We need meaningful energy reform in this country or these bastards are going to continue bleeding us dry at the pumps and in our homes.