Ladies and gentlemen...we have a winnah! A new world record!
The Exxon Mobil Corporation and other energy companies reported record profits in the third quarter today on surging prices of oil and gasoline both before and after the hurricanes struck the Gulf Coast.
The world's largest publicly traded oil company, Exxon Mobil said profits jumped 75 percent, to $9.92 billion ($1.58 a share), from $5.68 billion (88 cents) a year ago. Revenue jumped 31.9 percent to $100.7 billion from $76.38 billion.
Royal Dutch Shell reported a similar 68 percent jump in profits, to $9.03 billion ($1.35 a share), from $5.37 billion (80 cents). Revenue rose 6 percent, to $94.7 billion, from $89 billion.
Some of the increase in profits was attributable to rising oil prices this summer even before Hurricanes Katrina and Rita struck the Gulf Coast. After the hurricanes, though, the price of gasoline, diesel, jet fuel and other refined oil products soared because of shutdowns at refineries in Texas, Louisiana and Mississippi.
Y'all think about that your next trip to the gas station, or the grocery store, when everything you buy now costs more..... 100 billion dollars. Just think about it.