I don't know about you but I am absolutely OUTRAGED at the latest news involving the profits made by the big oil companies! I feel like I'm the lone voice out here. I thought I was part of a generation---the baby boomer generation---who used to fight for the injustices of the world. We protested against Vietnam and stood up for civil rights but now it appears we are being bamboozled by big corporations and we've turned a blind eye and deaf ear.
Could it be because baby boomers are the ones who are responsible for these injustices? Exxon Mobil Chairman Rex Tillerson is, in fact, a baby boomer, and he's getting rich off of the backs of poor baby boomers like me.
Well, I am happy to report that I haven't patronized Exxon since 1989 when The Exxon Valdez oil spill occurred in Prince William Sound, Alaska. It is considered one of the most devastating man-made environmental disasters ever to occur at sea. All because someone was drunk on the job---that's the story I heard.
So, here we have today, millions of Americans who must be in a drunken stupor to allow oil companies like Exxon to get away with stealing our hard earned money.
Exxon Mobil Corp. broke its own record for the highest quarterly profit for a U.S. company on Thursday, joining other major oil companies in posting stronger earnings on the back of sky-high oil prices.
Exxon's second-quarter net income rose 14 per cent to $11.68 billion.
HERE ARE A FEW FACTS ABOUT THE COMPANY'S RECORD HAUL:
- Exxon earned more than $128 million a day, or nearly $1,500 every second during the quarter. The company said that was after it paid $4,100 a second in taxes and $14,700 a second in expenses to run the business.
- Exxon's quarterly earnings were slightly larger than the annual gross domestic product of Afghanistan, which was $11.63 billion in 2007, according to the World Bank.
- With Exxon's quarterly profit, one could potentially buy Gap Inc., Ford or Starbucks, which have market capitalizations of $11.67 billion, $10.76 billion and $10.69 billion, respectively, according to Reuters data.
- $11.68 billion could buy roughly 179,692 new Cadillac Escalades, or 15.57 billion individual Snickers chocolate bars.
It could also wipe out hunger around the world and take care of the entire baby boomer generation for the rest of our lives.