Exxon breaks profit record...and still gets a break with Valdez spill

[kaiser soze]

http://www.breitbart.com/news/2007/02/01/D8N0VRD80.html

HOUSTON (AP) -- Oil giant Exxon Mobil Corp. on Thursday posted the largest annual profit by a U.S. company _ $39.5 billion _ even as earnings for the last quarter of 2006 declined 4 percent.

The 2006 profit topped Exxon Mobil's own previous record of $36.13 billion set in 2005.

Revenue at the world's largest publicly traded oil company rose to $377.64 billion for the year, surpassing the record $370.68 billion Exxon posted in 2005.

Record profits, price gauging, and lowered cost of clean up for Prince William Sound shows how much Exxon gives a shit about much of anything other than the almighty $$

Talk about fat cats (http://www.rawstory.com/images/new/exxonmobilceo.jpg), this one is a big fat pig

While profits hop for Exxon, their financial responsibilities to the clean up of Prince William Sound were cut.

http://www.rawstory.com/news/2006/Judge_gives_ExxonMobil_break_on_Valdez_1222.html

A federal judge has given petroleum giant ExxonMobil a break on its payout for the Valdez spill, according to a breaking report from the Associated Press.

The news agency is currently reporting that a federal appeals court has halved the $5 billion awarded by a jury to Alaskans and other parties to deal with the consequences of the spill.
Just another example how corporations continue to snub their noses at the public

[sam i am]

Yes, it's hard to justify when the world demand for oil keeps rising exponentially.

Especially in light that they are the largest company in the world, bar none.

That lawsuit cut in payments, however, is inexcusable and the judge who ordered it deserves his own little private corner of Hell for it.

[kaiser soze]

ah yes, and I'm sure $377 BILLION is a decent and logical profit when gas/oil prices just never seem to drop much anymore :rolleyes:

Demand for oil is not rising exponentially, some individuals/families/ businesses are consuming more because their vehicles/heating/power needs require more, but exponentially I don't think so.

[Ali]

Just another example how corporations continue to snub their noses at the publicEspecially when they contribute such a lot of $$$$$$$ to the ruling political party.