Exxon Makes $104 Million In Profit Per Day So Far In 2012...
Exxon Makes $104 Million In Profit Per Day So Far In 2012, While Americans Are Stuck With A Higher Gas Bill
By Rebecca Leber
Last year, ExxonMobil, one of the worlds most profitable companies, earned $1,300 in profits per second. As consumers paid record-high springtime gas prices, Exxon posted first quarter profits of $9.45 billion.
This is down slightly from the first quarter of 2011, when Exxon posted $10.65 billion in profits. Exxon benefited from the high price of oil, but analysts expected slightly lower profits due in part to the cheap price of natural gas, which the company is heavily invested in.
A by-the-numbers look shows how Exxons executives and Big Oils allies are rewarded generously for the companys billions, while Americans are stuck with rising gas bills:
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Exxon not only used 60 percent of its Q1 profits to buy back its stocks, enriching executives and largest shareholders, but it funnels money through political groups like American Legislative Exchange Council (ALEC) and American Petroleum Institute, to influence legislation in its favor.
http://thinkprogress.org/climate/2012/04/26/471469/exxon-takes-104-million-profits-per-day-so-far-in-2012-while-americans-are-stuck-with-a-higher-gas-bill/
March 29: