Faith-based News for Extra-TerrestrialsEXXON MAKES EVERY SECOND WHAT YOU MAKE IN A WEEK
CNN:
Profits at Exxon Mobil surged 36 percent to a near record $10.4 billion in the second quarter as surging oil prices helped the world's largest publicly traded company soundly beat Wall Street forecasts.The company's profit - which amounts to a cool $1,318 a second - is the second biggest ever reported by a U.S. company, behind only the $10.7 billion Exxon itself earned in the fourth quarter of 2005... [*].
The avg US family of 4 makes about 70K per year or about what EXXON makes per minute. Not only that US income dropped 2.3% in the last year measured [*]. At this rate, EXXON profits will double every two years and the US family will have to sell its average house to support its average car.
Ths sad thing is that the media is letting them get away with the notion that high prices are not due to gouging but "market forces". If that were true, then why are profits rising at record levels? I'm sure it is because of the spiralling rate of innovation at the company, aren't you?