This morning Exxon Mobile reported a third quarter revenue of $123.3, up 31.5 percent from last year, and a net income of $10.33 billion, up 44 percent from last year's exorbitantly exiguous (sarcasm alert) profit of only $7.35 billion.
Why the sudden good luck? Exxon Mobile has been reaping the benefits of increased prices for oil and natural gas, even as the majority of Americans struggle just to get enough gas in the car to make it to work.
Meanwhile, Senate Republicans continue to defend oil subsidies while advocating for cuts to entitlement programs.
"Big Oil companies are raking in soaring profits and Republican Senate candidates still want to continue shoveling taxpayer money into industry coffers. Republicans have long been in the pockets of their Big Oil campaign contributors, fighting at every turn to protect the industry’s taxpayer funded subsidies, even trying to cut benefits for seniors and dismantle Medicare to pay for tax breaks for big oil." (DSCC Spokesman Matt Canter)
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