Exxon Posts $10 Billion Quarterly Profit

Let our journalists help you make sense of the noise: Subscribe to the Mother Jones Daily newsletter and get a recap of news that matters.


Reuters: Shares of Exxon-Mobil have jumped to an all-time high on word that the company posted a quarterly profit of more than $10 billion (a 36 percent jump), thanks largely to high oil prices. Tyson Slocum, Public Citizen’s energy guy, told the Institute for Public Accuracy: “We’re getting so little bang for our buck. In Europe, they do pay more for gas, but much of it is made up of taxes that subsidize mass transit, so they’re getting something very tangible for their money. We don’t get anything like that for the prices we’re paying. We need to tax these windfall profits that companies like Exxon are posting and make investments into getting off our oil addiction.”

Expect Exxon, rather, to spend some of this bounty on its strenuous PR effort to deny the reality of global warming, as documented by Chris Mooney in Mother Jones.

(And see here for an interactive chart of 40 Exxon-funded public policy groups that seek to undermine the scientific consensus that humans are causing the earth to overheat.)

FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

payment methods

FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate