Crisis? What Crisis? Exxon Mobil Posts Largest Profit in U.S. History

Saturday, January 31, 2009
There Will Be Blood

The year 2008 may have been a bad one for most Americans, with layoffs and foreclosures and bank failures rippling through the economy, but for Exxon Mobil, the world’s largest publicly traded oil company, there was reason for joy. Exxon posted an annual profit of $45.2 billion, the largest profit ever achieved by any American corporation. The oil giant responded to the awkwardness of announcing this bonanza at a time when the country is facing deep economic problems by emphasizing that its fourth quarter profit was down sharply…to a mere $7.8 billion. Rival Chevron didn’t do badly either, with earnings of $24 billion for 2008.

Exxon Posts Record 2008 Profit Despite Slip in 4th Quarter (by Jad Mouawad and Clifford Krauss, New York Times)
Exxon Mobil Sets Record with $45.2 Billion Profit (by John Porretto, Associated Press)


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