Tag Archives: taxpayer subsidies

Exxon and the art of whining (or how to make $11B with taxpayer help)

Economy.jpgIt takes an incredibly warped sense of corporate entitlement for a company to believe it
 deserves taxpayer subsidies when it reports a quarterly profit of nearly $11 billion.

But that’s what we saw on Thursday when Exxon Mobil Corp. released its first quarter report. The giant oil company said it earned $10.7 billion, its largest quarterly profit since the 2008 third quarter when gasoline prices were even higher than they are now.

Along with the financial report, Ken Cohen, Exxon’s vice president for public affairs, published a lengthy statement on the company’s Perspectives blog defending Exxon’s soaring profits and blasting politicians for daring to protect taxpayers’ interests.

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