Monday, August 4, 2008

Big Oil Pumps Big Profits

Big Oil ExxonMobil Shell ChevronBig Oil giants Exxon Mobil, Chevron Corp, and Royal Dutch Shell reported record-breaking earnings last week.

Chevron said its second-quarter profit rose 11 percent to a record $5.98 billion. Revenue rose significantly to $82.9 billion from $56.1 billion a year ago.

Shell's profit climbed 33 percent to $11.6 billion on earnings of $7.83 billion.

And ExxonMobil said net income rose 14 percent to $11.7 billion on earnings of $138 billion in the second quarter.

Exxon Mobil stood apart even from this crowd, recording the largest ever quarterly operating profit for a U.S. company.

We, of course, should feel sorry for them all. After all, it's hard work pumping up higher profits during tough economic times for American businesses.

Source: ExxonMobil, Chevron, Royal Dutch Shell

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