Exxon guns for all-time profit record

Source: CNN Money

Surging crude prices could help the oil giant post the biggest bottom line ever for a U.S. firm; refining margins, rising costs could get in the way.

NEW YORK (CNNMoney.com) -- Exxon Mobil, the world's largest publicly traded oil company, is within striking distance of setting an all-time profit record - again.

Analysts are expecting the company to post solid quarterly and full-year earnings next Thursday - and if the results top forecasts, Exxon (XOM, Fortune 500) could end up reporting the highest profit ever for a U.S. company.

With oil prices having recently crossed the $100 a barrel threshold, it comes as no surprise that Exxon is a whisker away from setting a new milestone.

"Exxon is likely to have record quarterly earnings," said Fadel Gheit, a senior energy analyst at Oppenheimer. "For every $1 in the price of oil, Exxon makes $125 million for the quarter."

Read more: http://money.cnn.com/2008/01/23/news/companies/exxon_profits/index.htm?postversion=2008012310

---

If someone could explain to me why we have to give them tax breaks to keep the price of gas low, I'd greatly appreciate it.

those two will directly impact grocery, merchandise and travel prices for consumers in an even bigger way than heating costs or gas prices for your car.

Two Texas oil men in the White House; record prices, record profits, and a recession. Thankfully, our supine Congress isn't too interested in investigating any of this, or even enforcing its own subpoenas. Clearly, nobody minds.

feed those cockroaches any more than I must.

Just like oil, the money always floats to the top.

"Just like oil, the money always floats to the top."

Feel free to use it liberally. :)

:thumbsup:

and shit rolls downhill. ;)

who are poor."

"...yet we take no responsibility for any of it."

For the last four years Exxon has had a NET PROFIT (that is Profit after ALL expenses are paid) of OVER one hundred million dollars per DAY....Per frigging DAY. It is unfathomable....

I know one person that would put an end to this blood sucking b.s.!

Record oil profits years on end while gas is $3.50 and milk is $4.50 a gallon.

But fear not! Bush's republican cronies are doing quite well!

I can understand why this guy votes republican but why do working class people vote for these slobs?

It seems the Soviet Union had a better political system than we do.
It was not a democracy, but at least they cared about the population over extended periods of time.
Our government only cares for the uber-rich and lets them do anything they want.

This is obscene and we just let them do it.