Tuesday, January 31, 2006

Exxon Mobile Corp Posted Record Profits

Exxon Mobile Corp. posted record profits for any U.S. company on Monday -- $10.71 billion for the fourth quarter and $36.13 billion for the year. ExxonMobil Corp as the world's biggest publicly traded oil company benefited from high oil and natural-gas prices and solid demand for refined products. John D. Rockefeller's would be proud not only by founding the worlds most valuable company but now the worlds most profitable company.

Exxon Mobile headquarters are in Irving Texas .

My views on the Oil industry was formed in the 90’s by the book The Seven Sisters: The Great Oil Companies and The World They Shaped. All information from magazines and the internet has been foundation on what I learnt from that book. I think that book is still relevant today.

So my take is that Oil Companies are that they are the most powerful institutions in the world and have large influence in the running of countries and policies.

Interesting that leaders of Enron court case is starting today

Exxon Mobile increase in Profits have to be expected though as usually Politicians help companies from their own constuencies as Exxon Mobil is in Texas Bush’s Home ground. Enron missed the action by only one or two years. I think helping your own companies should become an issue when assisting those companies starts to significantly effect the rest of the public eg Petrol Prices


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