Exxon Mobil posts $40.6 billion annual profit, breaks record for largest annual profit by a U.S. company Options

[dauss]

http://www.msnbc.msn.com/id/22949325/

HOUSTON - Exxon Mobil Corp. on Friday posted the largest annual profit by a U.S. company — $40.6 billion — as the world's largest publicly traded oil company benefited from historic crude prices at year's end.

Exxon also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, besting its own mark of $10.71 billion in the fourth quarter of 2005.

The previous record for annual profit was $39.5 billion, which Exxon Mobil reported for 2006.

The eye-popping results weren't a surprise given record prices for a barrel of oil at the end of 2007. For much of the fourth quarter, they hovered around $90 a barrel, more than 50 percent higher than a year ago.

Crude prices reached an all-time trading high of $100.09 on Jan. 3 but have fallen about 10 percent since.

The record profit for the October-December period amounted to $2.13 a share versus $1.76 a share in 2006. Year-ago net income was $10.25 billion.

Also extraordinary was Exxon Mobil's revenue, which rose 30 percent in the fourth quarter to $116.6 billion from $90 billion a year ago.

For the year, sales rose to $404.5 billion — the most ever for the Irving, Texas-based company — from the $377.64 billion it posted in 2006.

In a statement, Exxon Mobil Chairman Rex Tillerson said the company continued to meet the world's energy needs through its "globally diverse resource base."

"Our long-term investment program, in projects often far from major consuming nations, continued to provide resources essential to the increasingly interdependent global energy supply network," Tillerson said.

Exxon Mobil produces about 3 percent of the world's oil.

[Testm0nkey]

toyota is working on plans to release a fully plug in version of the prius. the later releases of the 09' may already have the lithium ion/plug in capability.

i have no doubt fully electric vehicles will be released to the mainstream public in my lifetime and be popular

besides already having electric cars. and burning coal is not the only way to produce electricity

[dauss]

toyota is working on plans to release a fully plug in version of the prius. the later releases of the 09' may already have the lithium ion/plug in capability.

i have no doubt fully electric vehicles will be released to the mainstream public in my lifetime and be popular

besides already having electric cars. and burning coal is not the only way to produce electricity

I like the concept of the Chevy Volt. Plug in, all electric for like 40 miles or something, then after the juice runs out, the gasoline engine kicks in. They say a large majority drive 40 miles or less round trip to work. I don't know how much more the electricty bill be after 20 full recharges to the car.

Obviously impala would be like "OMGXORZ, nickel is poisoning teh erth!"