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Gold9472
04-27-2006, 12:04 PM
Exxon Mobil profit rises on soaring prices

http://today.reuters.com/news/articlenews.aspx?type=businessNews&storyid=2006-04-27T124209Z_01_WAA000191_RTRUKOC_0_US-ENERGY-EXXON-EARNS.xml&rpc=23

Thu Apr 27, 2006 8:42am ET

NEW YORK (Reuters) - Exxon Mobil Corp., the world's largest publicly traded oil company, on Thursday reported quarterly profit surged, driven by rising oil prices.

Net income in the first quarter was $8.4 billion, or $1.37 a share, up from $7.86 billion, or $1.22 a share, a year earlier.

Revenue jumped to $88.98 billion from $82.05 billion.

Crude oil prices have risen steadily from about $20 a barrel in 2002 to over $75 last week, handing oil and gas companies a long-running profit bonanza.

But the fat profits have also angered U.S. drivers grappling with rising gasoline prices and provoked sharp criticism of Big Oil from lawmakers and consumer advocates.

EminemsRevenge
04-27-2006, 12:19 PM
In an industry that has been around for a hundred years...methinks that it is the consumer's fault that there isn't a 100mpg car on the market yet.