Exxon and Shell Earnings Shatter Records at $11.6 Billion Each in 2Q 2008
July 31, 2008 by Susan Gunelius
Filed under Marketing
Americans can barely afford to fill up their gas tanks to get to work everyday, and Exxon and Shell are loving it!
Exxon reported earnings for the second quarter of 2008 at $11.68 billion, up 14% from second quarter 2007 earnings (although this was lower than analysts predicted and shareholders wanted – I don’t feel sorry for them).
Shell reported earnings for the second quarter of 2008 at $11.6 billion, up 33% from second quarter 2007 earnings.
I don’t like it, and as a consumer, it makes me dislike the Exxon and Shell brands even more than I did before. Your thoughts…
Image: Flickr
I say good for them. They don’t set the market. There are many factors that go into the price of oil/gas including future trading.
Since when is a companies fantastic performance a bad thing? May we all have such fortune! Yea I hate to pay at the pump as much as anyone else, but that just forces me to be more profitable to compesate. If we start seeing big oil fold without an alternative in place, that’s when I’ll worry.
As much as I am disappointed by this I know that nothing will change unless individuals take it upon themselves to change the market place. When people found out plastic bottles (like Nalgene) were causing illness they stopped buying them and the industry changed immediately. Now is the time for people to do the same thing to the gasoline industry.
Yet one more example of consumers needing to understand their power and use that power for change. These changes don’t need to be large to have an impact on the industry or economy.