Exxon Mobil breaks profits record

Today Exxon Mobil reported that it beat its own record for the highest profits ever recorded by a company. In 2007 it earned $1,300 a second. Its net income has risen 3 percent to $40 billion dollars and its sales have exceeded the gross domestic product of 120 countries.

Exxon has benefited enormously from soaring crude oil prices. Today's New York Times quoted Senator Charles Schumer (D-NY) as saying, “Congratulations to Exxon Mobil and Chevron — for reminding Americans why they cringe every time they pull into a gas station.”