Exxon Still Raking It In $$$$$$$$$$$$

by Kert Davies

May 1, 2008

 

Ahhhh, another good news for Exxon-bad news for the rest of us day…

The economy in shambles, food prices skyrocketing, gas prices at all time highs and going higher…at least Exxon is smiling.

Exxon’s quarterly earnings report today turned out another record breaker – with $10.89 Billion, which works out to over $120 million a day and over $5 million an hour.

and what is Exxon spending all this loot on?

they tell us, don’t worry they are exploring for more oil to sell to us, to make more record profits… what me worry?

oh, and they have been buying back their own stock at a record clip…they repurchased $8 billion in shares in the 1st quarter of 2008.

The quarterly profits announcement brought out the predictable calls for "windfall profits tax".  Even Barack Obama took a shot at Exxon’s profits in a recent TV Ad

But then it turned up that Obama, Clinton and McCain have all gotten money from Exxon employees during the ’08 election cycle, and ironically, Obama has seen the most!

Obama $23,550

Clinton $15,700

McCain $8,450

Exxon is right behind Koch Industries lead in total campaign cash doled out this cycle according to OpenSecrets.org

 

If you want to see if your Congressperson has recieved Exxon cash go here

So far 85% has gone to Republicans…go figure. 

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