Since I’ve talked about it before, a number of times, here’s the latest:
Guess what company showed a record profit for 2008, despite the economy, despite the bank crash in the forth quarter, despite the decline in gas prices in the second half (and especially the fourth quarter). Go on, guess.
Yes, that’s right! It’s Exxon Mobil, and it wasn’t a very hard question.
Despite collapsing oil prices in recent months, Exxon Mobil, the world’s largest publicly traded oil company, still managed to set a record for last year as the most profitable American corporation ever.
Exxon earned $45.2 billion in 2008, beating the record it set in 2007 for most profitable corporation, at $40.6 billion. That came despite a fourth quarter in which income fell 33 percent, owing to the steepest drop ever in oil prices, as the economy went into a tailspin.
I just feel ill. I should create a new category, “UnmitigatedGreed”.