ExxonMobil, a $340 billion company yesterday reported a profit of $39 b for 2006, and it has the press and the left (but we repeat ourselves) in a tizzy. To them we say, “Get over it.” The truth is that from 2001 – 2005 ExxonMobil’s tax bill exceeded their US earnings by more than $22 billion.
This is a huge company, and a profitable one. By the way, they only control 2% of the world’s energy. When you’re a company this big, a 10% profit equals a huge amount of money. God bless ’em, it’s what capitalism is all about. In the process they create jobs and livelihoods for over 80,000 employees and their families. Those workers — and the union pension funds that own ExxonMobil stock — should be very happy.
So ExxonMobil made a profit. May it be ever thus.
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