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Tuesday, May 03rd

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You are here News Energy Exxon has record profit again on soaring oil prices

Exxon has record profit again on soaring oil prices

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Exxon Mobil Corp said on Thursday soaring oil prices pushed its second-quarter earnings up 14 percent, again breaking its own record for the highest-ever profit by a U.S. company.

Net income in the quarter rose to $11.68 billion, or $2.22 a share, from $10.26 billion, or $1.83 a share, last year.

TVNL Comment: They had lowered production based on much less demand and still posted record profits Do you understand what this means? Do you know the laws of supply and demand? This is simple and plain extortion made possible by Dick Cheney's energy policies.

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