Exxon Mobile is Back on Top

By: Peter Fribert

The 500 richest companies, according to Fortune 500 magazine, were released and to no surprise Exxon Mobile was ranked at the top. Fourth quarter sales in 2008 clearly showed that falling oil prices Exxon Mobile is still able to make a very large profit. Exxon Mobil is perfectly capable of making billions of dollars even with oil at $50 a barrel or less. This now begs people to ask if Congress would pass a bill that would crush oil profits for companies such as Exxon Mobile, such as a cap-and-trade law according to the article. Should Exxon Mobile be able to use its $31 billion profit and buy out slumping oil companies that have declining stocks and attract more oil and gas reserves? Most people believe that Exxon Mobile should start looking into the Middle East but I say we shouldn't look there because we did once and were not very successful at it. Lets stick to the idea of Exxon Mobile taking our money and look into doing the smart decisions which are purchasing slumping oil companies and bringing in reserves.