Ah, nature. Chirping birds, fresh air and oil gushing into rivers. Credit the latter to a leaking pipeline operated by Exxon Mobil. The company says as many as 1,000 barrels of crude have leaked into Montana’s Yellowstone River, leaving its mark as far as 10 miles away from the pipeline.
A jury in Baltimore County, Maryland, has ordered petroleum giant Exxon Mobil to pay $1.5 billion in damages to residents and businesses of a town affected by a gasoline leak in 2006.
Even though Exxon Mobil alone earned more than $30 billion in profit in 2010 — and has reported a huge 69% increase in profit in the first quarter of 2011 — that company’s CEO was one of several oil biz execs trying to convince the Senate Finance Committee that they still need $21 billion in tax breaks.
This year’s Fortune 500 list is out, and while Walmart’s $421 billion in revenue may have beaten out Exxon Mobil’s paltry $354 billion, the oil giant beat out Big W where it matters most, profits. According to Fortune, the crude colossus made a whopping $30.4 billion in profits last year, nearly double what Walmart made and over $10.5 billion more than the next most profitable company on the list.
With over $408 billion in revenue, Walmart has regained the coveted top spot on the annual Fortune 500 list. The mega retailer had slipped to #2 behind Exxon Mobil on last year’s list after two consecutive #1 years in 2007 and 2008.
At the Gas and Oil Exposition in Calgary this week, Exxon Mobil executive Florian Osenberg told a rapt audience that the ongoing climate change crisis is no big deal because the dead people can provide “more feedstock.”