ExxonMobil Posts Record Profit, Continues to Receive Tax Breaks:


ExxonMobil posted the single largest quarterly and annual profit raking in over $10 billion in the fourth quarter of last year while the annual total topped $36 billion, according to the New York Times.  The annual revenue for the oil and gas behemoth was $371 billion, nearly $100 billion more than the entire revenue for the oil producing nation Saudi Arabia.  ExxonMobil is not proudly displaying these record numbers as public opinion towards oil and gas companies has turned sour after a year of high prices at the pump.  Recently a tax increase of $5 billion has been proposed for the oil and gas industry although it is strongly opposed by President Bush, the industry‚Äôs number one recipient of campaign funds over the past decade.  Congressional Republicans fear a backlash from voters after placing $2 billion of tax cuts for the oil and gas industry into the 2005 energy bill.