Monday, January 30, 2006

Turning Black Gold Into Real Gold

The Exxon Mobil Corporation's profit numbers are in and they're staggering. The world's biggest oil company posted profits of $36.13 billion for 2005—that's the largest annual reported net income in U.S. history. Wondering who had the second largest income ever? That would be Exxon Mobil in 2004.

Nothing like a little sweetener for your Texas Tea, huh? Not that it's a surprise, but the mega-corporation "benefited from high oil and gas prices and demand for refined products." So much for the doom-and-gloom predictions for American energy concerns in the wake of Hurricane Katrina.

When the going gets tough, the tough pass the pain along to the consumer, but at least Wall St. is happy. Think about that next time you have to write out a crippling check for your heating bill this winter.
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