A Great Day For The Economy: Exxon-Mobil Posts Record Profit
I challenge anyone to tell me why this is a bad thing:
HOUSTON — Exxon Mobil Corp. on Friday posted the largest annual profit by a U.S. company _ $40.6 billion _ as the world’s largest publicly traded oil company benefited from historic crude prices at year’s end.
Exxon also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, besting its own mark of $10.71 billion in the fourth quarter of 2005.
The previous record for annual profit was $39.5 billion, which Exxon Mobil reported for 2006.
To sum it up — businesses exist to make profits, Exxon Mobil has made a tremendous profit.
Why is that a bad thing ? And I know there’s plenty of people out there who will say that it is.
