July 31, 2008: ExxonMobil (Exxon) posted a second quarter net profit of $11.68 billion, the largest quarterly profit in U.S. history. In the fourth quarter of 2007, the company posted a profit of $11.66 billion, which is now the second highest posted earnings for a publicly traded company in the country.CNNMoney.com: Exxon sets U.S. mark for quarterly profit (July 31, 2008)
Why are gasoline prices so high?(2 Answers)
A:
I've read that this is the time of year when refineries will shut down in cycles for maintenance. But I think in the end it's greed ...
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No answers yet.
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Fast Facts
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Net profit
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Exxon made $10 billion from the sale of crude oil in the second quarter of 2008, up 70% as compared to last yearCNNMoney.com: Exxon sets U.S. mark for quarterly profit (July 31, 2008)
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The company's refining business was down nearly 50% as compared to last year due to higher oil pricesCNNMoney.com: Exxon sets U.S. mark for quarterly profit (July 31, 2008)
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