Exxon Mobil Profit Surges 56% in 3rd Quarter!

[flpoljunkie]

http://www.freep.com/money/business/exxon29e_20041029.htm

Exxon Mobil profit surges


BY JEFFREY TOMICH
BLOOMBERG

October 29, 2004

Exxon Mobil Corp., the most profitable U.S. company this year and last, said third-quarter net income rose 56 percent as oil prices surged and chemicals earnings quadrupled.

Net income climbed to $5.68 billion, or 88 cents a share, from $3.65 billion, or 55 cents, a year earlier, the Irving, Texas-based company said in a statement. Sales rose 28 percent to $76.4 billion, the most ever for a U.S. company.

Exxon Mobil, BP Plc and other producers are reaping record profits as demand gains in China and elsewhere around the world combine with supply concerns to send crude-oil futures above $52 a barrel for the first time in 21 years of New York trading. Increases in demand and prices spurred a jump in Exxon Mobil's chemicals profit to a record $1.01 billion.

[aquart]

1. Ain't profiteering sweet? Never mind if it bankrupts a nation.

Some resources are too precious to be in private hands.

[Shopaholic]

2. Need to get this one out there in the media. . . .

it could help us. You know how much those Yuppies love their SUV's.

[durablend]

3. They'll just ignore it...

Or come up with their "but gasoline/oil is below the inflation adjusted price of 25 years ago" excuse.

[LiberalAndProud]

4. Rape!

Rescuing this post from page 7. I have no words to express my consternation that corporateamerica can rape and pillage with impunity.