While the vacuum hose attached to our wallets appears to have let up a little – in so much as exchanging a shattered leg for a shattered hand could be considered an improvement – drivers continue to feel the pinch at the pump. So it could be considered something of a slap in the face - but no great surprise, mind - to learn that fuel giant Exxon Mobil has recorded not only a profit, but a record profit for 2008.
The world’s largest publicly traded oil company has posted a profit of AU$71 billion – a whopping $9b over its 2007 profit. The company’s 2008 profits come largely on the strength of the second and third quarters of the year, when fuel prices in Australia were frequently over $1.50 per litre – with similar prices around the world. The last quarter of the year saw earnings drop by 27 percent; small comfort to the rest of us.
The world’s second-largest oil mob, Chevron, posted a similar profit for 2008, coming in with an easy AU$67.5 billion.
[ Source: AP / Google News]
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this is ridiculous, here we are struggling to old our own 2 feet and losing jobs through the world and these companies making record profits at our expense.
the prices of fuel we pay today is not justified and pity no government is strong enough to stand up to the Cartel.
no wonder there is wars over oil… blow up the whole damn thing and stick to electric that should send them a message.
yeah, as long as the mafia (opec, big oil companies and their global crime syndicates) have control over the oil, there’s no chance of fuel being APPROPRIATELY priced.
It really stinks.
What’s the deal with prices, anyway? They dropped down to almost $1/litre, but now they’re back around $1.20?!?
just following on from my previous post, just wondering if TMR would be able to investigate the price of petrol and price of diesel. i notice the petrol goes up and down through out the week and price difference from cheap tuesday to most expensive day Thursday/Friday is huge comparing to 3-4 years ago.
my question is Petrol seems to move alot but DIESEL seems to stay the same…there is hardly any movement at all… specially now in my area Diesel is going for $1.20 and Petrol going for $1.25/l
Why is that?
Yo bruzzer, we hears you. Stay tuned my man, got an analysis coming up that will make you burn.
The Insider