Tag: Exxon Mobil
The CEO of Exxon Mobil Corp. says there's no quick replacement for oil, and sharply cutting oil's use to reduce greenhouse gas emissions would make it harder to lift 2 billion people out of poverty.Think about how much oil the world's poor consume. Are they buying cars and driving to work, or are they walking or biking? Would they be helped more by lower gas prices for cars they can't afford anyway, or by making small-scale clean energy more affordable - solar-powered local water filtration systems, home solar stoves, and better battery storage?
"What good is it to save the planet if humanity suffers?" CEO Rex Tillerson said at the oil giant's annual meeting Wednesday.
Now think about who suffers most from global warming-fueled extreme weather disasters. Is it the ultra-wealthy like Rex Tillerson? Or is it that subsistence farmer in Africa who Tillerson's holding up as a human shield to protect his company's mind-bogglingly huge profits?
It's not hard to see why Republicans are reconsidering their positions - an NBC/Wall Street Journal poll found that 74% of voters support eliminating tax breaks to oil companies.
So why are Republicans even thinking about doubling down on billions in subsidies for oil companies? Just in the first quarter of 2011, Exxon Mobil gave Cantor $5,000. (And don't forget that, thanks to the Supreme Court's pro-corporate Citizens United decision, campaign cash is getting harder & harder to track.)
"It couldn't be clearer that these companies are the least deserving of taxpayer money and government handouts," says Navin Nayak of the League of Conservation Voters. "It's past time for Rep. Cantor whose hands are covered in oil to end his support for this obscene corporate welfare and start standing up for the people of Virginia."
Exxon Mobil said Thursday its quarterly profit increased 38 percent as oil prices rose in the first three months of the year.It's about time Exxon Mobil's profits got back on track. After all, it's been a whole 16 months since it posted the biggest profit of the history of the planet. Good to see them back on their feet!
The company reported a profit of $6.3 billion, or $1.33 a share, in the first three months of the year. [...]
Exxon's profit relied heavily on its exploration and production operation. Oil prices surged over the last 12 months, jumping from a low of $33 a barrel in the first quarter of 2009 to more than $80 a barrel this year.