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Tuesday, January 31, 2006 

Exxon Mobil posts highest profits for any US company ever

Considering the events and gas prices of last year, does it come as any surprize that Exxon Mobil posted a profit of 36 billion US Dollars in 2005 - the largest ever for any US company ever in history! Just by the virtue of being in the business of oil, these companies control the US economy quite a bit. (For instance, many strategists fear the risks to the American economy because the Venezuelan government owns Chevron). And now, these companies, like Exxon, are making tons of money and have the financial muscle to wriggle their way through with their own agenda.

I feel that 2006 will be no different. Exxon will probably end up making more profit again this year. Gas had gotten cheaper just before Christmas '05 (in the high $1.90s) and is rising back up again (its in the 2.20s in Utah these days). I personally am glad my fuel usage has gone down after moving to Utah (where we have a great public transport system in Salt Lake City at least) from Ohio (where you practically have to drive to get anywhere). And I am more so also because I drive a fuel efficient vehicle which usually nets me 4o/30 mpg in highway/city driving usually. However, it really is time to consider alternative fuels and fuel efficient vehicles as a nation.I hope we make more advances in research soon. And I personally hope that SUV and truck usage and sales go down! (Sorry GM). I personally cant wait until I make more money so I can buy a Prius or some other hybrid. That dream is still 5 or 6 years away. Who knows what technology we will have by then ;).

About me

  • I'm Indyman
  • From Seattle, WA, United States
  • I am a Risk Management Consultant at KPMG. Before this, I was an Investment Associate at University Venture Fund in Salt Lake City, UT. My personal interests are in venture capital, private equity, technology, real estate, entrepreneurship, investing, stocks, india, patriotism, mumbai, hanoi, vietnam and life in the united states.
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