CONSUMER GROUPS ARE CRITICAL OF EXXONS RECORD PROFITS-Andrew Stelzer07/27/06
Sky-high oil prices are helping Exxon Mobil to post another near-record profit.
Exxon Mobil says it earned more than ten-point-three (b) billion dollars in the second quarter. That's the second-largest quarterly profit ever posted by a publicly traded U-S company. It fared even better with the numbers covering the fourth quarter of last year, when it notched the record of ten-point-seven (b) billion dollars in earnings. Revenues for the quarter came to 99 (b) billion dollars. <p><p>
A coalition of environmental and consumer groups are using the announcement of the oil companies record profits, to ramp up their boycott and negative publicity campaign against Exxon. The campaign is called exxpose Exxon, and campaign director Shawnee Hoover says its working. Hoover said that more than half a million people have been boycotting Exxon and calling members of congress asking them to crack down on the oil companies exorbanent profits, and their avoidance of their own contribution to global warming.
ACT-Hoover â€œPublic funding..people arenâ€™t investing, and global warming is major..This campaign isnâ€™t asking them to do anything the other companies arenâ€™t.
Hoover says that Exxon could invest one month of their profits into alternative energies and make a tremendous difference around the world. Kurt Davies, research director at Greenpeace says Exxons resistance to embracing and developing cleaner technologies is damaging the entire planet.
ACT-Kurt Davies â€œWe have a giant in the middle of the road sitting in the away..they have to move out of the way..â€?
ACT-Davies â€œExxon is dumping millions into advertising for this..they pay scientists, they pay lobbyists..they even contradicted Bush saying we can be energy independentâ€?
The expose Exxon campaign includes the union of concerned scientists, US PIRG, the natural resources defense council, and several other groups. Of the conference call with reporters, several of the expose Exxon campaign members referred to how other oil companies are doing a much better job that Exxon in promoting cleaner energy. Pressed by a reporter on whether they are saying other companies are doing a good job David Hamilton is a global warming and energy director for the national Sierra Club, said that would be going too far.
ACT-Hamilton â€œI donâ€™t think BP isnâ€™t an oil company, but they are doing something..and there is a world of difference between them and others..â€?
The current crisis in the mid east has analyst speculating the oil prices will rise once again. But Tyson Slocum with public citizen says Americans should not accept the excuse that prices are out of the oil companiesâ€™ control.
ACT â€œMore than 1/3rd of profits are in the united states..so US citizens are making this happen..so there is a direct connection, and consumers arenâ€™t getting bang for their buck..â€?
For more information on the Exxpose Exxon campaign, log onto www.exxposeexxon.com Please note, the word expose has 2 xâ€™s