ECONOMY : Oil profits off the charts
Yesterday oil companies released their third quarter profits, and they were large. ExxonMobil earned a net income of $9.92 billion, which is the most any U.S. company has earned in a three-month period… ever. Royal Dutch Shell raked in a little over $9 billion itself, while BP earned $6.5 billion, ConocoPhillips $3.8 billion and ChevronTexaco $3.9 billion. Any hardships caused by Hurricanes Katrina and Rita were offset by the record high price of crude oil, hitting $70/barrel at one point in the third quarter. USA Today reports that while consumer backlash is expected for such high profits during a time when most motorists are being pinched at the pump, the oil companies are stressing that their industry is cyclical and it wasn’t that long ago in 2001 when the combined quarterly profits of these companies totaled less than $10 billion. Aww… poor babies.
In Autoblog 28Oct2005
Yesterday oil companies released their third quarter profits, and they were large. ExxonMobil earned a net income of $9.92 billion, which is the most any U.S. company has earned in a three-month period… ever. Royal Dutch Shell raked in a little over $9 billion itself, while BP earned $6.5 billion, ConocoPhillips $3.8 billion and ChevronTexaco $3.9 billion. Any hardships caused by Hurricanes Katrina and Rita were offset by the record high price of crude oil, hitting $70/barrel at one point in the third quarter. USA Today reports that while consumer backlash is expected for such high profits during a time when most motorists are being pinched at the pump, the oil companies are stressing that their industry is cyclical and it wasn’t that long ago in 2001 when the combined quarterly profits of these companies totaled less than $10 billion. Aww… poor babies.
In Autoblog 28Oct2005
posted by Harish Bhatt at 13:46
1 Comments:
É a velha história: enquanto os ricos estão cada vez mais ricos, os pobres... E o maior problema é k ninguém gosta, mas também pouco ou nada se faz para mudar. Muito pelo contrário. Só se pensa em chegar à riqueza, seja lá a custo de quê e/ou de quem. Mundo hipócrita este!!!!
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