Robert Rapier writes in Forbes abour Exxon Mobil’s profits.
- Exxon, who has made “more money than God,” according to President Biden, has made less money than Apple over the last few years.
- In the past ten quarters Apple has earned $211.7 billion whiled Exxon has earned $11.8 billion.
- Importantly, oil prices are not set by Exxon or any one energy producer, but instead by global markets.
- While Apple’s success should be celebrated, it is clear that the push to blame Exxon and other producers for high gas prices is a political maneuver.
Read the full article here.