Saturday, January 31, 2009

The economy ~ It's a gas

In this unprecedented economic downturn, even  the oil tycoons are taking their hits. As the price of a barrel of oil took a roller coaster ride to a high of more than $150 per barrel, then crashed to  $39.19 per barrel, fourth quarter profits are down. Before you run to get your box of kleenex to shed tears for the hardship of the industry- check out the 2008 final profit numbers:

• Exxon Mobile experiences a $45.2 billion dollar profit, exceeding their previous world record profit. 

• Shell $31.4 billion profit

• Chevron $24 billion profit

Let's hope they can recover from the downturn. 

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