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Big oil makes big bucks ?....Â*or right on momma !......??
http://www.foxnews.com/story/0,2933,205872,00.html
NEW YORK (Reuters) - Exxon Mobil Corp. (XOM), the world's largest public oil company, Thursday reported quarterly profit surged 35 percent to top $10 billion, driven by yet another quarter of sharply higher oil prices.
In a surprise move, the company boosted also its capital spending program forecast to $20 billion this year, citing additional exploration and production opportunities.
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This article gives me gas
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It shouldn't give you gas. The millions of people who own Exxon stock (most mutual funds do) are benefiting. In addition, Exxon is spending 20 billion in improvements. That is a lot of jobs - many which will likely be in the US and Canada.
The local, state and federal governments took a heck of a lot more than the Exxon profit in the same time period. They make less than ten cents a gallon. In NC I pay over 65 cents a gallon in taxes. That doesn't count corporate income taxes either.
$10.36 billion
...??
