Thursday, July 31, 2008

Exxon Mobil profit = $1,486 per second

By now you've probably heard about the astounding profit that Exxon Mobil is reporting for this past quarter: $11.7 billion. And yes, that is an American record. (Woo hoo for Exxon Mobil and their new American record, just in time for teh Olympics!)

The Guardian breaks that figure down for us: Exxon Mobil is making $1,486 per second. Per second! So as you read "per second," they've made another $1,486. And again. And again.

But, ABC provides by far the most disgusting figure in all this, as reported here by ThinkProgress:
Exxon Mobil today broke its own record for the highest-ever profit by a U.S. company, with net income this quarter rising to $11.68 billion. While Exxon officials regularly tout the company’s investment in alternative energy, ABC reported today that Exxon spends only 1 percent of profits on alternative energy sources.

“They’re probably spending more on the advertising than they are on the research,” noted an oil analyst contacted by ABC. BP invested the most out of the big five oil companies, at 2.9 percent.

14 comments:

DCup said...

I'm so, um, happy for Exxon and their shareholders.

Sue J said...

But then on the drive home I heard that Exxon stocks fell after their profits were released. The shareholders were expecting ... more!!!

DCup said...

That sound you just heard was my head exploding.

Sue J said...

oh crap. I think I just lost a reader!

donald said...

with profits like that, i guess they have little incentive to invest in renewable energy. if we consumed less oil, that might change!

Sue J said...

Perhaps my tag "obscene profits" is what got me locked out by Blogger. That's pretty sick, actually.

DCup said...

Sue - You got locked out too? Blogger must have been having a meltdown.

Sue J said...

DCup, I got an email this a.m. from blogger saying that this blog has been "flagged" as a possible "Spam blog"

I have no idea why on earth a filter would have flagged this blog. But it does seem awfully odd that so many liberal bloggers are suddenly being locked up by blogger....

DCup said...

That is really weird. I wonder it if's happening to other people. I admit, most of the blogs I read are liberal, so I can't even tell if it's a coincidence.

I want to say I'll google it, but will that help? Who knows!

Anyway, what a pain in the ass for you and the others that have been locked out.

Sue J said...

I've been thinking about moving over to WordPress, and I think this is going to be the push I needed! Stay tuned!

afeatheradrift said...

I saw the same report on ABC's GMA about EXXon. I'm appalled as always at their greed. And it is that, make no mistake about it. They spend more on telling us that they are good guys than they do on actually trying to find new sources of oil on land they already have leases on. It's dispicable.

Oh, Wordpress is fantastic. there support is top notch. You can an answer for a problem within a hour most of the time. And very very few problems at all. When something goes wrong on the site, which is seldom, they post on your dashboard so you don't have to wonder. Great great platform. Much better than blogger in my estimation.

quakerdave said...

Like Sean Insanity says, "Drill here, drill now, and make Exxon even more obscenely rich, so they can keep on payin' my bills."

It ain't about energy policy. It's about greed.

And yeah, for the most part, Wordpress beats Blogger. I have some text formatting issues with WP sometimes, but it's generally less buggy. IMHO.

Mahesh said...

yep

Sue J said...

Mahesh, welcome!