Thursday, April 27, 2006

Exxon posts another huge quarterly profit. . . .


By Deepa Babington

NEW YORK (Reuters) - Exxon Mobil Corp. (XOM.N: Quote, Profile, Research), the world's largest publicly traded oil company, posted its biggest first-quarter profit ever on Thursday, but higher taxes dragged the results below Wall Street forecasts.

The Texas behemoth reported a profit of $8.4 billion, on the heels of record earnings of $10.7 billion in the previous quarter. The news is expected to fuel growing consumer resentment in the United States over Big Oil's long-running profit bonanza.

Stung by soaring gasoline prices, U.S. lawmakers and consumer advocates have stepped up calls for special taxes on oil company profits and the repeal of tax breaks the companies enjoy.

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2 comments:

Anonymous said...

yes, let's reinact the Carter era policies and see the $ spent on investment and new technologies dry up again. Smart, real smart.

puddle said...

Puhleeze, lol! You *really* believe that. Bunky?