Monday, November 03, 2008

Exxon has record profit after R&D and new technology investment

As reported by AutoBlogGREEN:

Another quarter passes, another record profit is set by Exxon Mobil. It's a bit of a broken record by now... literally. If you have a weak stomach, perhaps you should quit reading here. For the rest of us, here are the gory details: Total net profit comes in at a staggering $14.83 billion, besting its previous record (which was just set last quarter) of 11.68 billion. That income equals $1,865.69 per second, in case you cared. Total revenue taken in was $137.7 billion, which equates to a lot of gas, though it produced 8 percent less oil that it had the previous quarter.

Perennial number-two oil company, Royal Dutch Shell, also did rather well for itself last quarter, raking in $8.45 billion in profits. British Petroleum, for its part, managed to make some $10.5 billion over the same period of time. These record profits have managed to catch some major attention, including that of British Prime Minister Gordon Brown, who suggested that the oil giants perhaps share the wealth a bit. Yeah, that sounds likely.


Another comparison:

Exxon's profits this year = all of Apple's profits for the past 15 years! Yes 15! Apple is the wealthiest technology company with 24 billion in the bank.


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