Boo-Hoo!! Oil Company Profits Are Down…
Matt | On 01, Feb 2010
Two major oil companies, Exxon and Chevron, have released their “sad” Q4 2009 earnings statements today.
Brace yourselves people … their profits are DOWN 37 and 23 percent, respectively. In English, this means that Exxon had $6.05 BILLION and Chevron had $3.1 BILLION in profit for the last part of 2009. Again, I never said they had a loss. No sir / No ma’am! It means that they didn’t clean out our bank accounts as good as they would have liked to!
To their credit, both companies did experience a loss in the sectors that actually refine and produce gasoline we use in our vehicles. Hell, I can’t tell though. Gas prices are at least $2.60 – $2.80/gallon where I live (i.e., getting near sky high). I can feel them getting higher for the summer, just you wait.
The regular Joe Blows like us just don’t have the funds to buy gas like we used to. But, obviously these oil companies are HUSTLING in some other type of lucrative work to have $3 – $6 billion in extra cash just laying around for three months of work.
The car companies need to be reading this and putting overtime into the electric and hybrid car segments! You all can look at me sideways if you want to. At night, I want to charge my iPod, cell phone, and the Buick all in one fell swoop!! Damn these oil companies!