Exxon has just reported the highest profits in history. Today CNN Money estimates that the company earned $1485.55 a second from April through June of 2008. That’s clear profit, not gross income.
At this rate Exxon alone could pay the US President’s annual salary in roughly two and a quarter minutes. Two four-year terms could be bought in under 20 minutes.
In slightly over four days Exxon could match the campaign budgets of both Barack Obama and John McCain.
Even so, the same CNN report states that Exxon fell short of Wall Street’s expectations.
The obscenity of all this news is numbing.
More appalling yet is that, if Exxon could maintain this rate of profitability and contributed every cent of profit towards the US federal debt, we’d still be in debt twenty years from now, thanks to the Bush administration, who in 2001 inherited a surplus OVER TWENTY TIMES the amount of Exxon’s second quarter profits.
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Follow the URLs to check my math: