Breaking: Exxon just released LARGEST PROFIT EVER IN RECORDED HISTORY

[Atman]

Second quarter profits of $11.7 BILLION, just reported on MSNBC.

.

[Junkdrawer]

1. That'll buy a WHOLE lot of influence...

Although, IMHO, they already own our government lock, stock, and barrel.

[glowing]

2. That's nice.. imagine if that was a state sponsored business.. and all that

revenue was coming back to the people.. we'd have state of the art everything.. It would be amazing if we actually collected the proceeds from big oil...

[Junkdrawer]

4. Big Oil owns the state, so oil is a state sponsored business...kinda...n/t

[WilyWondr]

11. Big Oil owns the state, so the state is an oil sponsored business

IMO, Big Oil just uses the state as it's HR department.

[Initech]

18. So that's why Shit-For-Brains is still kept in office.

[WilyWondr]

12. A public entity would not have these profits

You have to realize that there is no way a state owned entity would be bringing in profits like that. When the price of gas started going up, for no reason, this price gauging would have been stopped in it's tracks

We would have $2(or less) gas before we allowed a state owned entity to rack up profits like this.

[annabanana]

16. Of course not. But then we might have strong bridges... up to date schools..

universal healthcare. . .a first rate public transportation system... all kinds of stuff.

[rurallib]

3. If they want offshore drilling why don't they buy their own country?

er - I guess they have.

[SammyWinstonJack]

5. That's what happens when two oil men take control and no one stops them.

[texasleo]

6. um, they did.

[moondust]

7. Why?

Demand is down. Cost of raw materials (crude) is way up. How does that add up to record profits?

[NewJeffCT]

8. their profit margins have been creeping up this decade

They were around an 8% profit margin 4-5 years ago, and that has steadly climbed to 9%, then to 10%, then to 11%... and, I'm guessing it's closer to 12% now.

They probably also hedged the market well in regards to the declining dollar vs the Euro and other currencies.

[Junkdrawer]

9. Exxon owns a lot of oil fields...$100+/bbl profits add up quickly. n/t

[RB TexLa]

10. 8.5% is the largest profit ever? Hardly. Their profit went down. Revenue up 40% profit only up14%

They didn't meet expectations.

[DaDeacon]

15. My My , That just wont cut it

Yeah that 11 Billion just won't cut it. ......Percentages are a little misleading when you are really talking about Billions of dollars, just saying.

[ladjf]

13. Nationalize.

[Maestro]

14. Damn! Exxon still needs those tax breaks!

:sarcasm:

[dogindia]

17. so who's raising the gas prices?

[MadrasT]

19. Kick! and R

:kick:

[The Backlash Cometh]

20. MISSION ACCOMPLISHED!

[Supersedeas]

21. but don't you know that drill off the coast would solve the Energy crisis

[Blue_In_AK]

22. And yet they don't want to pay interest

on the $500,000 damages award that the Supreme Court gifted them with in the EXXON VALDEZ case. Punitives go from $5 billion to $500,000 but they're too cheap to pay interest to the fishermen whose lives they've ruined.

An entrepreneur in Kasilof, Alaska, has been selling T-shirts that say EXXON SUCKS. He can't seem to keep a supply on hand, they're selling so fast.

http://www.adn.com/exxonvaldez/story/478107.html

KENAI -- A store in Kasilof has started hawking T-shirts in response to a recent U.S. Supreme Court ruling favoring Exxon Mobil Corp. in the Valdez oil spill case.

Kasilof Mercantile says the shirts that read "Exxon Sucks" are popular among its fishermen clientele.

Co-owner Rocky Laster told the Kenai Peninsula Clarion that the shirts are "flying off the racks."

Hundreds of shirts have already been shipped to numerous locations around the Kenai Peninsula and Anchorage.

Laster says the store is making an exception to its rule of staying out of such controversies.

He says the U.S. Supreme Court's decision late last month to slash the punitive damages owed by Exxon in the massive 1989 spill was "just wrong."

He says many in the area are part of the settlement.

"There's not much they can do against a giant corporation like Exxon, but this is a way for the little guy to at least give them a jab," Laster said.

The shirts were designed by Pat Keenan and Judd Snyder of Manana Print, a silk-screen design shop in Homer (Alaska).

Both men are ex-crabbers who formerly fished in the Bering Sea, and they said they made the design within hours of learning of the U.S. Supreme Court's decision.

[entanglement]

23. That's a QUARTERLY profit of $11.7 billion (the annual figure is likely $45 billion or thereabouts)

[roamer65]

24. It is time for SOCIALISM.

Time to dump the fascist, crony capitalist system.