Americans will no doubt take heart from the record profits just posted by that bulwark of the U.S. economy, Exxon Mobil.
Although fourth quarter profits were just a measly $7.8 billion (compared to $11.7 billion in the fourth quarter of 2007), 2008 was still a record year. Exxon Mobil posted the highest annual profit ever recorded by a U.S. company (handily breaking its own record, as all the very best world champions do):
Exxon Mobil Corp. on Friday reported a profit of $45.2 billion for 2008, breaking its own record for a U.S. company, even as its fourth-quarter earnings fell 33 percent from a year ago.
The previous record for annual profit was $40.6 billion, which the world’s largest publicly traded oil company set in 2007.