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How can ExxonMobil post record breaking 2nd Quarter profits?

Asked by Indy318 (1012points) July 31st, 2008 from iPhone

$11.68 billion is how much ExxonMobil, now the worlds largest oil company, made in its 2Q (for keeping track at home, that’s $1,500 per second). This makes you ask- are oil companies gouging us at the pump? With the struggling US economy falling into deep recession, an oil corp. is the last place one would look for historial profits. I couldn’t care less that oil execs. are signing $100 million retirement packages but when gas is over $4 a gal. it sure as hell better not be because of inflated prices. Almost every division in the economy ultimately relys on gas and oil. Everything has increased in cost due to rising gas prices, which puts the consumer at great disadvantage. I ask the collective, how is it that energy Corp. are able to prosper while the consumer is forced to adapt to an economic recession?

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