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NEW YORK (AP) - Exxon Mobil's quarterly profit rose 41 percent because the company sold oil and natural gas at higher prices, making up for lower production.
The world's largest publicly traded oil company, which owns and operates oil and gas fields from Texas to Qatar, said prices rose sharply in the third quarter. Its refineries also charged more for gasoline and other fuels that they make from oil.
NEW YORK (AP) - Exxon Mobil's quarterly profit rose 41 percent because the company sold oil and natural gas at higher prices, making up for lower production.
The world's largest publicly traded oil company, which owns and operates oil and gas fields from Texas to Qatar, said prices rose sharply in the third quarter. Its refineries also charged more for gasoline and other fuels that they make from oil.
NEW YORK (AP) - Exxon Mobil's quarterly profit rose 41 percent because the company sold oil and natural gas at higher prices, making up for lower production.
The world's largest publicly traded oil company, which owns and operates oil and gas fields from Texas to Qatar, said prices rose sharply in the third quarter. Its refineries also charged more for gasoline and other fuels that they make from oil.
Awesome, I have a retirement account that has a mutual fund with some Exxon stock in it, and I have a friend that works for them as a researcher, glad to see them doing well so they can keep people employed and help those folks that are disciplined enough to sock away some retirement money.
Boy they sure do need the special tax advantages given to them.
The subsidies are for for bad wells to insure smaller operations do not get run over by behemoths like Exxon who can easily absorb the costs.
If it's broken down over gallons of production it works out to fractions of a penny per gallon. You could compare this to the estimated 50 cents ethanol was getting which the consumer is still going to pay because Exxon will be moving these costs to the pump now that the subsidy is no more.
American oil field workers are well paid with plenty of benefits even without a union. More profits means more exploration, more R&D, more wells, and more people working.
The subsidies are for for bad wells to insure smaller operations do not get run over by behemoths like Exxon who can easily absorb the costs.
If it's broken down over gallons of production it works out to fractions of a penny per gallon. You could compare this to the estimated 50 cents ethanol was getting which the consumer is still going to pay because Exxon will be moving these costs to the pump now that the subsidy is no more.
But nooooooo...."special tax breaks" = bad. No matter what you fancy pants energy guys say.
If you think a company, who's third quarter profit was $10.3 billion, needs tax breaks you might be a Republican.
Fail.
Yes Exxon benefits but so do many smaller companies. It wouldn't surprise me to find out Exxon would privately want it to go away, as you point out they don't need it. The real beneficiaries are there competition.
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