Exxon has reported its profits for the second quarter. I wait with baited breath (not) on how the neo-socialists howl to the heavens on the “unfairness” of it all and how Exxon and all oil companies need “investment on alternative energy.” Notwithstanding the open ended phrase that “investment on alternative energy” really is, check out how much in taxes Exxon paid along with those profits. Also, check out
post on how Exxon actually pays more taxes than the bottom 50 percent of taxpayers.
From CNN money
: Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.
That profit works out to $1,485.55 a second.
That barely beat the previous corporate record of $11.66 billion, also set by Exxon in the fourth quarter of 2007.
"The fundamentals of our business remain strong," Henry Hubble, Exxon's vice president of investor relations, said on a conference call. "We continue to capture the benefit of strong industry conditions."
Also, check out posts on blogs of note on Oil drilling and opposition to it.
Democrats oppose Oil Company Private Property Rights
The Bobo Files:
Obama announces his Energy Plan
Exxon posts record $32.36 Tax payment