Exxon Mobil posts $40.6 billion annual profit--Oil giant breaks record for largest annual profit

Oil giant breaks record for largest annual profit by a U.S. company

HOUSTON - Exxon Mobil Corp. on Friday posted the largest annual profit by a U.S. company — $40.6 billion — as the world’s biggest publicly traded oil company benefited from historic crude prices at year’s end.

Exxon also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, beating its own mark of $10.71 billion in the fourth quarter of 2005.

The previous record for annual profit was $39.5 billion, which Exxon Mobil made in 2006.The eye-popping results weren’t a surprise given record prices for a barrel of oil at the end of 2007. For much of the fourth quarter, they hovered around $90 a barrel, more than 50 percent higher than a year ago.

Crude prices reached an all-time trading high of $100.09 on Jan. 3 but have fallen about 10 percent since.

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http://www.msnbc.msn.com/id/22949325/

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:eyes: Talk about infuriating...:argh: getting rich off the backs of the struggling...sickening...

That's what happens when you control every phase from drilling to distribution.

Net Profit After all expenses in the pocket money One Hundred Million Dollars every single Friggin' Day for four straight years. Think what your local community could do with a hundred million dollars...Exxon puts this in their pocket every day...I'm sure the other major Oil Companies are smiling broadly as well. I think the Government should give them some major tax breaks for incentive purpose don't you guys?

Obfuckingscene! :puke:

And THAT'S comparing PROFITS to GDP! When the revenues of $404.5 billion are compared, only 16 nations had a larger GDP in 2005!! ONLY SIXTEEN COUNTRIES!

:puke: :puke: :puke:

the government coffers and telling the CEO/CFO's to fuck off.

Hawkeye-X

If you really want to fix the problem of funding the government, yank the corporate subsidies and remove the tax credits that they use.

for the past few years, it's always been "record-smashing quarterly profits", or "most profitable year on record"....how much more can they make? how much more money is even in the world?