Kip Powick Posted January 31, 2011 Share Posted January 31, 2011 NEW YORK, N.Y.—Exxon says net income grew 53 per cent in the fourth quarter as oil prices rose and the company increased production.The largest publicly traded oil company on Monday reported earnings of $9.25 billion (dollar figures U.S.), or $1.85 per share, the highest since its record profit of $14.8 billion in the third quarter of 2008. In the year-ago quarter, Exxon earned $6.05 billion, or $1.27 per share.Revenue increased 17 per cent to $105 billion.Analyst had expected earnings of $1.62 per share on revenue of $99.1 billion, according to FactSet.For the full year, Exxon Mobil Corp. said it earned $30.5 billion, or $6.22 per share, compared with $19.3 billion, or $3.98 per share, in 2009. Annual revenue increased 32 per cent to $383 billion.And now the Press and "business experts" are predicting that due to the unrest in Eygpt, oil could once again exceed $100.00/barrel........the oil companies must just love international strife Link to comment Share on other sites More sharing options...
boestar Posted January 31, 2011 Share Posted January 31, 2011 Speculation is the only reason for high oil costs. Period. There is no "real" reason for the increases in the oil price other that speculators manipulating the market so they too can make millions from oil.The laws are changing but not fast enough. We have all become "USED TO " $1 + gas. Link to comment Share on other sites More sharing options...
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