On the brink of collapse!!....., well, not really.
This article foresees doom for the sliding profits of the oil companies. Well, the profits are falling, but no one is talking about the potential collapse of the big names in global oil. Exxon posted a 33% fourth quarter earning shortage as compared to last year's Q4 earnings. It sounds rough, but I'm sure no one had been fired because the company only made $7.8 Billion in "Revenue-Cost". It is a volatile market for profits in the oil market right now, but when the question is "windfall profits or semi-windfall?", I would say it is safe to live in Texas for the time-being.
Posted by Unknown at 1/30/2009 04:34:00 PM