NOT THE ONLY ONE BUT....

APExxon Mobil turns biggest US quarterly profitThursday July 31, 5:37 pm ET By John Porretto, AP Business Writer

Oil gusher: Exxon Mobil turns record profit but faces backlash from Washington and investors

HOUSTON (AP) -- Exxon Mobil reported the fattest operating profit in U.S. corporate history Thursday but took a beating anyway -- from politicians railing against Big Oil, drivers bleeding cash at the pump and investors who expected more.

The world's largest publicly traded oil company turned a profit of $11.7 billion for the second quarter, lifted mostly by meteoric crude prices. Its earnings were up 14 percent from a year ago.
Total sales: $138 billion -- roughly the gross domestic product of Hungary.

Henry Hubble, Exxon Mobil's vice president for investor relations, said the record profits "highlight the quality of our integrated business model and disciplined investment approach."
For the most part, the plaudits ended there.
Despite their heft, Exxon's profits were a disappointment on Wall Street, and the company's stock slumped nearly 5 percent. Almost the entire energy industry was walloped by investors Thursday.

European rival Royal Dutch Shell posted its own record profit across the Atlantic, with earnings of $11.6 billion. Its American depository receipts tumbled nearly 4 percent in afternoon trading.
Growing investor apprehension can be found at the heart of what the oil industry does -- finding and producing oil and natural gas.

Exxon Mobil's overall output fell 8 percent in the second quarter from a year ago -- a significant blow for a company that generates more than two-thirds of its earnings from oil and gas production.

For Exxon Mobil, which produces 3 percent of the world's oil, finding new deposits of hydrocarbons is getting harder and harder. State-run oil companies like those in Saudi Arabia and Venezuela control about 80 percent of known global oil reserves. It's difficult if not impossible for Exxon and its competitors to get any part of that oil.

"It all comes down to production," said Brian Youngberg, an analyst with financial services firm Edward Jones. "This is the second straight quarter production came in below expectations. Investors are going to be questioning when they can turn that around."


Exxon Mobil was not alone in the industry in posting massive profits over the past week....

BUT
THEY WERE THE ONLY ONE WHO WAS GIVEN A MULTI BILLION DOLLAR BREAK BY THE UNITED STATES SUPREME COURT.

THE PEOPLE IN ALASKA THAT JUST GOT SHAFTED BY THE UNITED STATES SUPREME COURT MUST LOOK AT THESE PROFIT NUMBERS AND SIMPLY START CRYING.

IT MIGHT BE ONE OF THE GREATEST INJUSTICES EVER PERPETRATED ON THE AMERICAN PUBLIC.....

AND I HEARD VERY LITTLE MOANING AND GROANING ABOUT THE ISSUE.

PLEASE REFER TO 2008 UNITED STATES SUPREME COURT DECISIONS TO LEARN ABOUT THE REDUCTION TO THE VICTIMS OF EXXON/VALDEZ OIL SPILL.

I KEEP SAYING THIS OVER AND OVER AND OVER.......

"WHERE IS THE CHECKS AND BALANCES PART OF THE GOVERNMENT WHEN IT COMES TO DECISIONS BY THE SUPREME COURT?"

If I was a fisherman in Alaska involved in the Exxon/Valdez lawsuit reduction...I might look across the strait and see if Russia had any openings.

I'm serious as a heart attack......

REDUCING EXXON/MOBILE'S LIABILITY IN THE EXXON/VALDEZ FIASCO MIGHT BE ONE OF THE GREATEST FEATS EVER ACCOMPLISHED BY CORPORATE AMERICA.

HOW CORPORATE AMERICA GOT TO THE SUPREME COURT CAN SLIGHTLY BE EXPLAINED IN THE NEW JOHN GRISHAM BOOK..."THE APPEAL"

I realize he writes fiction but truth has truly become stranger than fiction.

Read the book and then look to the Supreme Court and realize once and for all that the individual has no chance against corporate America.....but I'm sure you already knew that....

I've got to go now and fill out my application for Wal-Mart.

Michael Timothy McAlevey