Exxon Posts $10 Billion Quarterly Profit

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Reuters: 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.

(And see here for an interactive chart of 40 Exxon-funded public policy groups that seek to undermine the scientific consensus that humans are causing the earth to overheat.)

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Truth #1: The chaos is the point.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

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