Category Archives: Exxon

Exxon sets record for 2nd quarter profits.

I should say another record. From CNN:

Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.

That profit works out to $1,485.55 a second.

That barely beat the previous corporate record of $11.66 billion, also set by Exxon in the fourth quarter of 2007.

“The fundamentals of our business remain strong,” Henry Hubble, Exxon’s vice president of investor relations, said on a conference call. “We continue to capture the benefit of strong industry conditions.”

Strong industry conditions my ass. They refuse to refine enough crude to keep the price down. They are the bastards of industry.

SCOTUS lowers Exxon’s spill damages

Fuckers…It happened 19 years ago and the rat bastards haven’t paid any of the damages, but they have taken it all the way through the courts. Now, SCOTUS has taken the case and lowered the $2.5 billion punitive damages award. Punitive damages are designed to punish a wrongdoer, while compensatory damages compensate a wronged party for the loss they suffered. From CNN:

The high court concluded that punitive damages should roughly match actual damages from the environmental disaster, which were about $507 million. Lower courts were asked to reassess the jury verdict, extending the years-long litigation in the case.

The ‘liberals’ on the court agreed with part of the ruling.Not only did the Valdez destroy thousands upon thousands of mammals, it also destroyed much of their habitat and the fishing that locals depended upon for their livelihood.

But its all about the bottom line for Exxon..not for owning up to anything..just spending millions in Lawyers Fees in order to lower the hit to their fucking bottom line.