It Never Rains But It Pours
by sarabeth at 3:30 pm on April 27th, 2006 in EconomyWaPo:
In an announcement that fueled partisan sniping on Capitol Hill, Exxon Mobil Corp., the world’s largest oil company, said today its first-quarter profits hit $8.4 billion, up 7 percent from a year ago.
Although the net earnings fell below some analysts’ expectations, they still gave the Texas-based oil giant the fifth-highest quarterly profits ever recorded by a publicly traded company.
Three of the other quarterly profits in the top 5 also belong to Exxon—$10.7 billion for the fourth quarter of 2005, $9.9 billion for the third quarter of 2005, and $8.4 billion for the fourth quarter of 2004.
The other one? Royal Dutch Shell’s $9 billion profit for the third quarter of 2005.
Anybody see any kind of pattern here?
Nick in Beantown wrote:
You mean that these are all very profitable companies? Maybe I should get me some shares, then go fill the tank.
Posted 28 Apr 2006 at 7:42 am ¶
tom wrote:
did you see that chevron’s profits rose 49% this past quarter?
http://money.cnn.com/2006/04/28/news/companies/chevron.reut/index.htm?cnn=yes
of course there’s no way these guys could be gouging the public for profit. thats unamerican! NOT.
Posted 28 Apr 2006 at 8:31 am ¶
sarabeth wrote:
All I meant was that the 5 biggest quarterly profits of all time belong to oil companies, and all within the last 6 quarters.
Clearly these Pirates of Petrol have been making money hand over fist for the last year and a half.
Posted 28 Apr 2006 at 11:42 am ¶