More embarrassing profits
Once again it was time for Big Oil's run for the money. And as last week's profit figures for the first three months of 1980 rolled in, even oilmen were again startled by their size. Though retail gasoline sales have been slow all year as high prices pushed many drivers off the road, the oil company earnings have never been better.
Exxon Corp., the nation's largest industrial enterprise (1979 annual sales: $79.1 billion), reported eye-popping profits of $1.93 billion, a 102% jump over the same quarter of 1979. Mobil, which since January has been under steady attack by the White...
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