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Arrrrgh . . . How will they survive?
Exxon 3Q profit falls by nearly half amid low oil prices
DALLAS (AP) — Exxon Mobil Corp. posted its worst third quarter in 12 years due to low oil prices but still earned $4.24 billion, beating Wall Street expectations.
Exxon's earnings from exploration and production continued to slide, especially in the United States. However, profit doubled in the refining end of its business on stronger margins, and the chemicals segment was steady.
I'm going to guess they'll survive by continually increasing refining charges without increasing refining capacity nor upgrading facilities, selling refined products outside the U.S. where they can charge higher prices, and heavily lobbying congress for more tax breaks to help them through these tough times.
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Yeah, my heart bleeds for any energy company. Not! It's about time they take a hit instead of the consumer. I'm laughing all the way to the gas pump these days.
Last edited by flowergirl (10/30/2015 12:18 pm)