…if you’re an oil company. They’ve enjoyed record profits this quarter:
Profits at oil companies this quarter continued to reflect oil prices that almost doubled in the second quarter from the year earlier.
Exxon Mobil on Thursday reported that second-quarter profit rose 14 percent, to $11.68 billion, the highest-ever profit by an American company. Exxon broke its own record.
The profit of $2.22 a share compared with $10.26 billion, or $1.83 a share, in the quarter a year ago.