HOUSTON - Exxon Mobil Corp. posted the largest annual profit by a U.S. company – $40.6 billion in 2007 – as the world's largest publicly traded oil company benefited from historic crude prices at year's end.

Exxon also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, besting its own mark of $10.71 billion in the fourth quarter of 2005.


Given the scale of these profits, it will be interesting to see who will pay for the proposed $2 billion carbon capture and storage plan for Canada: the hard-working taxpayer or the oil companies?


{plan} http://www.energy.gov.ab.ca/Org/pdfs/Fossil_energy_e.pdf

I read somewhere recently that Exxon gets relatively little of its income from its own gas stations, that its main customers are actually other oil companies. Is there a way to find out *which* other oil companies, and in what proportion?

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You’d think that with all that cash they’d give Fred Singer and Pat Michaels some real money… but then they’s have to do real research, and the poor chaps just don’t know how!

I’m glad that Gelbspan took the trouble to confirm Exxon is still a profitable business concern, since this same story was featured last week here:


However, I’m not really sure what the point of this repetition is? Is James Hoggan & Associates Inc. being paid by Exxon to talk up their stock? Or is the implied message that since Exxon is a successful business, they are evil because PROFITS=SATAN?

It’s hard to tell, because Gelbspan and his fellow employees don’t really say. Surely the fact that Exxon is profitable is common knowledge? One thing is for sure, they are definitely adhereing to James Hoggan & Assc. Inc. PR firm official policy –

“So, when communicating new information: repeat, repeat, repeat […] Your “new” truth may also require many repetitions.”


Therefore, we can expect James Hoggan & Associates Inc. to remind us that Exxon remains profitable on a weekly basis, for the forseeable future.