Exxon makes $75,000 per MINUTE...
If you don't feel like reading the whole article...this is all you shoudl need...
"The largest quarterly profit ever was Exxon Mobil's $10.71 billion profit in the fourth quarter of 2005.
They may beat that next quarter, said Howard Silverblatt Standard & Poor's Senior Index Analyst. "Then in all likelihood they will be at that $40 billion mark for the year."
That would put the company on track for the highest annual profit ever by a U.S. company. ExxonMobil holds that record with a 2005 profit of $36.1 billion.
The Irving-based oil giant watched profits grow in each part of its business."
While I think they are a bunch of crooks, it should be pointed out that this company is one of the few who makes profit at each step in the process.
They make money in the location of the fields.
They make money in the drillilng in those fields.
They make money in the transportation of the raw product.
They make money in the refining of the product.
They make money in the distribution of the finished product.
and they make money in the final sale of the product.
Still, I am unhappy with them.
It's important to put the numbers into perspective though too. While $10 billion in a quarter is certainly a lot, it is only approximately a 10% profit margin for them. Look up their annual and quarterly reports, it's all in there.
I do think that due to the sheer volume of business they do they could have a smaller profit margin, but 10% really isn't all that huge. It's not like they are making 50% profit or something. :2cents:
I wonder how much money congress wastes a minute....
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