Sen. Clinton criticizes Exxon Mobil selloff

Fortune
May 4, 2008

Editor’s note: Exxon owners, the Rockefeller family, were disappointed with former chairman, CEO, and neocon Lee Raymond, who was not onboard with the fake climate change agenda.

Exxon Mobil’s (XOM) latest numbers continue to draw scrutiny. Exxon posted a 17% rise in first-quarter earnings, to $10.9 billion, or $2.03 a share, as the company benefited from the rise in energy prices. But shares fell 3% in afternoon trading, as the numbers missed Wall Street’s expectations and investors worried about an unusual production decline. Sen. Hillary Rodham Clinton indicated in an afternoon statement from her presidential campaign office that she’s enraged by the implication of Thursday’s selloff – that Exxon isn’t making enough money.

“There is something seriously wrong with our economy when Exxon’s record $11 billion in quarterly profits are seen as a disappointment by Wall Street,” Clinton said. She went on to use the company’s latest gains to reiterate her call for a gas tax holiday — a proposal has been criticized by economists who say it won’t result in lower prices for consumers. “I believe we should impose a windfall profits tax on big oil companies and use that money to suspend the gas tax and give families relief at the pump,” Clinton said.

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This article was posted: Sunday, May 4, 2008 at 12:59 pm

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