Poor Oil Companies
It seems fitting to paraphrase Barbara Bush and say that things seem to be working out pretty well for the poor oil companies:
Oil companies came under new fire yesterday when it emerged that ExxonMobil's profits are likely to soar above $10 billion this quarter on the back of the fuel crisis.
That's $110 million a day, and more net income than any company has ever made in a quarter. It's also a stunning 69 percent increase over the same period a year ago and a 34 percent jump from the $7.6 billion Exxon made just last quarter.
[Brett Arends, "Exxon's $10B fill-up: Cashing in on crunch", Boston Herald, 7 September 2005.]