Posted by: Scott Groves | January 31, 2012

Let the cries begin – Exxon is profitable

Exxon today posted 4th quarter profits of $9.2 billion on $121.6 billion of revenue.   That equates to roughly 7.57% of profit (based on revenue) which seems pretty reasonable for any company but will somehow be villainized by the left.

Like clock-work the complaints will flow from MSNBC commentators, environmentalists and other liberal groups about the evils of Exxon, the big-bad oil company.  Keep in mind that Exxon employs close to 100,000 people and as a company pumps about half a trillion dollars into the world economy annually.

Soon demands will come from the mass-media and blogosphere begging Congress to enact a special oil tax.  Rachel Maddow will spend her nightly show tilting her head slightly to the right,  gazing into the camera and giving her best look of disgust while she rails against those millionaire and billionaire oil tycoons who continue to destroy our country, the world economy and our environment.

Yes, $9.2 billion is in fact a lot of money… but consider it as a percentage of total revenue and expense.  7.57% is not a huge profit margin for any company – especially one which is constantly accused of price-fixing and supply chain manipulation by left wing nut-cases.

Compared to the most beloved company in America, Apple, Exxon is under-performing.  In Q4 2011 – Apple posted $28.27 billion in total revenue and quarterly net profit of $6.62 billion, equaling 23% in profit.

Where are the cries from Maddow and the liberal left demanding a special tax on Apple products in order to help save the country?  Where are the demands from the Occupy Wallstreet crowd that the Cupertino elite redistribute some of their wealth to the rest of the country?  Why isn’t the board of directors at Apple being called to testify in front of Congress as to why their IPHONE and IPAD products aren’t offered at a more reasonable price.

And most importantly… why are liberals so easily tricked into to thinking a 3-piece suit equals evil, while a black turtle-neck equals sainthood?

I would even wager to bet that in the 21st century, E-waste from consumers who have to replace their computer, IPOD and IPHONE every 6 months might become an even bigger environmental concern than fracking.

Just a few thoughts from a man who is typing away on his Mac as he listens to his IPOD.


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