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While you pay $3.80 for gas, Exxon earns nearly $11 billion in first quarter

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NEW YORK (AP) - Exxon says it earned nearly $11 billion in the first quarter, a performance that will likely land it in the center of the national debate over high gasoline prices.

The world's largest publicly traded company on Thursday reported net income of $10.65 billion, or $2.14 per share, in the first three months of the year. That compares with $6.3 billion, or 1.33 per share. Revenue increased 26 percent to $114 billion.

Analysts had expected earnings of $2.04 per share on sales of $112.6 billion, according to FactSet.

The quarter was Exxon Mobil Corp.'s best since earning a record-setting $14.83 billion in 2008's third quarter. It comes at a time when some drivers are paying $4 or more for gas and President Obama is threatening the oil industry's multi-billion tax subsidies.

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Oh Happy Day!

Oil Stocks Rise!

Capitalism is A-OK with me!

Why, even most 401K's have mutual funds which invest in oil. Haven't seen the rewards or haven't been paying attention to your money?

If you look, you may just be one of those dirty rotten rich people, by today's standards...

Maybe Obama won't punish Exxon for you...but instead, just maybe he will come to his senses, and ask them to drill throughout AMERICA and ANWAR and create wealth thru jobs and lessened foreign dependance!!!

Oh, yeah right.... You have to be a friend to Job Creators to be able to create Jobs. Oh, what on EARTH was I thinking? IF there are NO JOBS, there is more dependance on the Government, the way Obama wants it to be.

Not at all interested in "spreading the wealth" with you for Obama. Texas Tea is all for me. Git you Some!!!

Joe the Plumbers Friend (11/2012)

: )

Go Exxon..Go Exxon..Go Exxon..It's your birthday...

Where's Nancy

OK where is Nancy now? When we had high gas prices in the past she would always get on TV and say " This is what happens when you have a President that is in the oil business"

She's nowhere to be seen now LOL

The profit earned on a gallon of gas...

is a helluva lot less than the State of North Carolina makes on the tax they charge per gallon.

Great job of trying to once again imply the oil companies are to blame for the high cost of gasoline. Yes, it's real easy to blame them when you ought to be looking at the oil traders and speculators...as well as factoring in supply and demand force at work.

If you don't like the price you pay here...move to the UK, where it's over $6/gallon.

Americans...when will the majority move from a State of Entitlement to a State of Empowerment.

Sounds logical

"If you don't like the price you pay here...move to the UK, where it's over $6/gallon."

If someone doesn't like the price they pay here, why would they move to the UK where it is more expensive? Why wouldn't they move to a country with lower prices?

Again, It's the Economy! ;.)

Highfriend,

It's about this Country's economic condition and pending Socialism.

The post was done to make a valid point, showing you what can and has happen in countries where the economy is stagnant, the government entitlements are riddled in red tape, and their "programs" mired in bureaucracy and just plain... not American!

If you don't like 4.00 a gallon, compare that to other Countries systems that adopted socialist policies, which tax it's citizenry at about 50 cents on the dollar, and give them a HORRIBLE QUALITY OF LIFE.

If we don't wise-up, we may as well just stay home and Drink like they do in Russia. But they don't stay home... see, long ago... they lost thier homes,so they sit on the curbs and drink vodka, all day, everyday. It's an epidemic. They send their scholars over here to talk to us to determine what to do to fix it.

We tell them, It is too late for you, but not for U.S.

BTW, in the interest of fairness....

How about posting how much Exxon Mobil paid in taxes last year?

Let me explain this to you....

(Jeez Scott, talk about posting something just to stir the pot...)

* The price of oil is going up
* Exxon Mobil owns rights to billions of barrels of oil
* Exxon Mobil is in business to make money for their shareholders
* They HAVE the oil, you NEED the oil.
* They make the money, you spend the money

Now, this will amaze you! When corn prices rise, corn farmers make more money. If you own gold, gold prices rise and you sell it, you make money. If you bought your house for $120k and market demand allows you to sell it for $250k, you make money.

Does that confuse anyone? Any questions?

Let's Keep This off the radar

If Obama, the Socialists & her Majesty catch on, they'll kill the golden goose or geese. They will want to redistribute to all those life long entitlement recipients