Exxon made $15 billion in profit for Q3, so reports the AP (and all news sources) today. Q3: You know, that’s when we all were enjoying taking road trips with friends, or to the reunion, or to the cabin up north—while paying north of $4 a gallon.
Ain’t that America? When the little people (albeit often in their big vehicles) want to have some fun, the Big People find a way to make it hurt. $15 billion. That’s just nuts.
But that’s not the way Exxon works. They are very used to making profits; one could almost say they’re addicted to it, like drivers are addicted to gas. Check out this AP factoid:
“If one-time gains like bankruptcy settlements and spinoffs are stripped away from other companies, Exxon Mobil owns the record for the top 10 most-profitable quarters for a U.S. company, as well as the largest annual profit.”
Yes, it’s true. In the previous quarter (Q2), Exxon made (only) $11.68 billion, the second-largest profit ever. For those of us watching our pennies and trying to save for a vacation, a BreakAway, or retirement, we have three reaction-options: Buy the stock; refuse to hold the stock (on moral grounds); Go for a ride (maybe on your bike) and don’t think too much about it.
I like the third option. Shift gears, let capitalism do its wild, funky thang, and ride on.