It's almost expected now that each quarter Exxon Mobil will produce a new record profit. Last quarter, though, as the largest publicly traded oil company in the world saw its profits decline by 27 percent, that didn't happen. Don't feel too bad for the company, though, as even in a down market, the oil giant still took in $84.7 billion, which was enough to set a new record for profit over the entire year of 2008 at $45.2 billion. Record high fuel prices from the second and third quarters of last
First, let's get the hard data out of the way: Exxon's $11.68 billion of profit last quarter was the highest ever recorded by any company, topping it's own previous record from the last quarter of '07. For those who like to keep track of such things, that is nearly $90,000 a minute; $1,500 every second. That's a lot of dough, for sure, but it is actually not as high as some investors were expecting, causing a bit of a sell-off this morning following the earnings announcement. It seems that some
With gas prices as high as they are, it might seem hard to believe that some gas companies aren't profitable, but apparently Exxon Mobil isn't doing as well as they might wish. The company just announced that it will be selling off its gas stations for financial reasons. We suspect that the industry keeps itself shrouded in mystery to protect its profit at times, but Exxon Mobil, Chevron and ConocoPhillips, to name a few, have all stated that certain nebulous factors in the supply, demand and re
General Motors has fallen once again on the Fortune 500 list of America's top-grossers. The General had once stood strong atop the rankings, having fallen from the top spot in 2001 at which time Wal-Mart took over. For the last few years, Exxon-Mobil and the big box retailer have battled for the first two positions on the list with GM claiming third place. This year, soaring demands for energy have allowed Chevron to nudge past GM on its way to a third place finish. General Motors, at number fou
While the amount of energy the world demands every year is tremendous, the cost of finding and purchasing that energy is just as staggering. According to this article, ExxonMobil plans to spend between $25 and $35 billion every year for the foreseeable future in search of more oil. Even as established oil reserves dry up, the company is finding more oil through their new operations than they have been losing from closing their old ones. With $40.6 billion dollars in profits last year, the compan
Late last week, ExxonMobil announced that it, along with Japanese company Tonen Chemical, had developed a new plastic film technology for automotive lithium-ion batteries. And, since ExxonMobil was going to be at EVS23, I set up an interview with people who could tell AutoblogGreen readers more about this product. Thanks to a missed flight, I was not able to meet with ExxonMobil representatives at our appointment on Sunday but did connect with James Harris (pictured), the senior vice president o
To be sure, we need U.S. and ExxonMobil oil production - I use about four gallons a week myself - and I credit the geologists and petroleum engineers of the world for getting it to us. After all, we need it to keep ourselves moving while we transition to the vehicles you read about here on ABG and their non-petroleum energy sources - biofuels, hydrogen, renewable electricity, plus the alternate lifestyles global warming will require - more biking, walking, telecommuting, etc. The point is we can
When we write about Exxon Mobil here on AutoblogGreen, we mostly do it to point out just how much money they make. In 2006, after all, the company did make $1,252 every second. Sometimes we write about their shady ethanol studies or other ways the giant oil company is trying to buy off scientists. What I'm saying is that it's not too often that we say somewhat nice things about Exxon Mobil.