You're Kidding, Right?
Hey, imagine that:
Exxon Mobil Corp. posted a quarterly profit of $9.9 billion Thursday, the largest in U.S. corporate history, as it raked in a bonanza from soaring oil and gas prices.
Record profits for Big Oil at a time when consumers are paying sky-high prices for gasoline have brought calls for a windfall profits tax or other penalties on oil companies.
Exxon isn't alone:
Royal Dutch Shell reported a similar 68 percent jump in profits, to $9.03 billion ($1.35 a share), from $5.37 billion (80 cents). Revenue rose 6 percent, to $94.7 billion, from $89 billion...
Also today, Marathon Oil reported that its third-quarter earnings more than doubled, to $770 million ($2.09 a share), from $222 million (64 cents). Revenue jumped 40 percent, to $17.2 billion, from $12.3 billion.
Let's see...rising prices, rising profits...and you have to wait for the stuff. Reminds me of a song.
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