Record Profit For Exxon Mobil

Thursday, October 30, 2008, PM | Leave Comment

ExxonMobil earned $14.83 billion in the third quarter of 2008. That compares with $9.41 billion, or $1.70 a share, a year ago. One thing I never understood. Maybe it’s all political. The presidential candidates talk about dependence on foreign oil and how they want to minimize and eventually totally eliminate it.

But who is benefiting from it. Isn’t ExxonMobil an American-based company. The reason, I hear, is because all summer long, gas prices were shattering records all over America. That’s why they made so much money.

I wonder who sets the price. Is it OPEC and others? If the producers are setting up the price, who is benefiting from it. Of course, the producers. But who else?

Who else?
And who is paying for all this? Besides the American public. Who else is paying for it? Does it matter who else is paying for it besides the American public.

But who else?
People who are in power are rich enough they can afford anything. People who are rich have power they can afford anything. It’s the public that are at a disadvantage or if you pardon my French, they are being screwed and screwed hard.

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