Exxon Mobil profit, sales reach record
Dallas ? Exxon Mobil Corp. rewrote the corporate record books Thursday as the oil company’s third-quarter earnings soared to almost $10 billion and it became the first public company ever with quarterly sales topping $100 billion.
Anglo-Dutch competitor Royal Dutch Shell PLC wasn’t far behind, posting a profit of $9 billion for the quarter.
Those results led Democrats in Congress to demand a new windfall profits tax.
But Energy Secretary Samuel Bodman said President Bush opposes such a move and is instead considering a wide range of proposals to help cushion consumers, including the creation of an emergency reserve of gasoline and other refined products.
Thursday’s outsized earnings are a result of surging oil and natural gas prices that pushed pump prices to record territory after Hurricane Katrina.