enthalpy

enthalpy

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The truth shall set you free, but first it's going to piss you off

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Friday, January 30, 2009

Posted 1/30/2009 05:54:00 PM by Douglas

Turns out, this recession is a real bitch.

HOUSTON – Exxon Mobil Corp. on Friday reported a profit of $45.2 billion for 2008, breaking its own record for a U.S. company, even as its fourth-quarter earnings fell 33 percent from a year ago.

The previous record for annual profit was $40.6 billion, which the world's largest publicly traded oil company set in 2007.

The extraordinary full-year profit wasn't a surprise given crude's triple-digit price for much of 2008, peaking near an unheard of $150 a barrel in July. Since then, however, prices have fallen roughly 70 percent amid a deepening global economic crisis.

Only 45 Billion? They may have to start shoppin' at Payless.

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