MotherJones.com | MoJo Blog - Social Issues and Political Commentary: Exxon Posts $10 Billion Quarterly Profit

Shares of Exxon-Mobil have jumped to an all-time high on word that the company posted a quarterly profit of more than $10 billion (a 36 percent jump), thanks largely to high oil prices. Tyson Slocum, Public Citizen’s energy guy, told the Institute for Public Accuracy:
“We’re getting so little bang for our buck. In Europe, they do pay more
for gas, but much of it is made up of taxes that subsidize mass
transit, so they’re getting something very tangible for their money. We
don’t get anything like that for the prices we’re paying. We need to
tax these windfall profits that companies like Exxon are posting and
make investments into getting off our oil addiction.”

Expect Exxon, rather, to spend some of this bounty on its strenuous PR effort to deny the reality of global warming, as documented by Chris Mooney in Mother Jones.