Exxon Mobil profit = $1,486 per second

By now you’ve probably heard about the astounding profit that Exxon Mobil is reporting for this past quarter: $11.7 billion. And yes, that is an American record. (Woo hoo for Exxon Mobil and their new American record, just in time for teh Olympics!)

The Guardian breaks that figure down for us: Exxon Mobil is making $1,486 per second. Per second! So as you read “per second,” they’ve made another $1,486. And again. And again.

But, ABC provides by far the most disgusting figure in all this, as reported here by ThinkProgress:

Exxon Mobil today broke its own record for the highest-ever profit by a U.S. company, with net income this quarter rising to $11.68 billion. While Exxon officials regularly tout the company’s investment in alternative energy, ABC reported today that Exxon spends only 1 percent of profits on alternative energy sources.

“They’re probably spending more on the advertising than they are on the research,” noted an oil analyst contacted by ABC. BP invested the most out of the big five oil companies, at 2.9 percent.

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6 comments

  1. But then on the drive home I heard that Exxon stocks fell after their profits were released. The shareholders were expecting … more!!!

  2. with profits like that, i guess they have little incentive to invest in renewable energy. if we consumed less oil, that might change!

  3. Perhaps my tag “obscene profits” is what got me locked out by Blogger. That’s pretty sick, actually.

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