Just heard on the radio tha Exxon posted a $11.7 Billion quarterly profit. The largest quarterly profit ever earned by a private corporation. I'm hoping they are accumulating these profits to invest and develop alternative energy sources.
In today's paper; 'Henry Hubble, Exxon Mobil's vice pres for investor relations, said the record profits "highlight the quality of our integrated business model and disciplined investment approach."
What a load of crap.
The article goes on to say that there is "growing investor apprehension" because finding and producing oil is becoming increasingly difficult for Exxon, AND Exxon only "produces 3 percent of the world's oil, finding new depostis of hydrocarbons is getting harder and harder."
"Saudi Arabia and Venesuela control about 80 percent of known global oil reserves."
No wonder they are trying to sock away the cash now. All the more reason to get away from fossil fuels.
Whoever exalts himself will be humbled, whoever humbles himself will be exalted - Matthew 23:12
