Big Oil

[fflo]

Exxon's vile (record-setting) profits last year:

$ 36,100,000,000.00

That's almost $300,000 per minute of 40-hr-a-week work, all year long, no time off. And in the last quarter, when they really raked it in (post-Katrina), the $10,700,000,000 they profited (this is profit, not gross revenue, folks) comes to $5716 a second.

That's, like, the entire annual payroll of MR in, what, 8 or 9 minutes?

I'm just trying to get some sense of the big dollar signs we're talkin' here.

Comments

Bullshit Big Oil

[kohkae.livejournal.com]

Have you heard their defense for their profits? "We don't set the price of oil. The world markets do." But they sure as hell set the price of their gasoline and other petroleum products. If crude oil is so high, how are they still managing to profit so handsomely?

Re: Bullshit Big Oil

[fflo.livejournal.com]

You know, it may be entirely coincidental (yeah, right!), but look who's in the White House.

muttermuttermutter-harumph

Re: Bullshit Big Oil

[aabassplayer.livejournal.com]

I think the real truth is that they set the price of gas as a percentage of world market cost (resulting in automatically adjusting profits)....which, in effect, they can be truthful that the world market is setting the price. :-P