Let's talk about Energy, George
January 30, 2006 10:48 AM Subscribe
So, you're gonna talk about energy?
Wonder if the President will mention the record profits
his buddies in big oil have been earning. Exxon Mobil who made a record $25.3bn (€19.4bn) profit in 2004
, earned a company record $9.9bn (€8.2bn) in the fourth quarter of 2005. In the same quarter, Condoleeza Rice's former employer Chevron, who once named an oil tanker for their former vice president, earned a record $4.14bn (€4.43bn)
. The third-largest US oil company, ConocoPhillips, has reported a fourth quarter profit of $3.68bn (€3.05bn), a 50% leap from the same time a year ago.
The industry claims
that oil companies earn 7.3 cents on a gallon, but "Exxon's profit for the year... a staggering $36.13 billion is bigger than the economies of 125 of the 184 countries ranked by the World Bank. Profit rose 42 percent from 2004."
You gonna talk about that, George?