30 October 2008

The economic climate sucks for almost everyone...

...but not everyone. 3rd quarter earnings are being announced in the energy sector and if you're Valero Energy (42% year on year), Murphy Oil (+190% year on year), Marathon Oil (+102% year on year) or Occidental Petroleum (+72% year on year) things are pretty good indeed. There there's Royal Dutch Shell, whose profit rose 71% to $10,900,000,000 for the quarter (or about $120,000,000 a day); British Petroleum whose profits rose 148% to $11,500,000,000 for the quarter (about $126,000,000 a day); and of course my old employer Exxon whose profits rose a mere 58% to $14,800,000,000 ($163,000,000 a day) to shatter its own quarterly profits record.

Life is good, eh?

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