High Gas Prices: Blame EXXON
Gas Station Shutdowns: Blame EXXON
People stealing gas from pumps: Blame EXXON
Outrageous CEO Pay Packages: Blame EXXON
War in the Middle East: Blame EXXON
Oil Speculators driving up the price of oil on the NYMEX: Blame EXXON

The EXXON Corporation (Symbol: XOM), one of the largest corporations in the world has been the perennial whipping boy since Hurricane Katrina hit (Which coincidentally is the same time oil prices started to rise) including Congress and at times Wall Street, yes Wall Street.
This past week EXXON reported quarterly earnings. For the 2nd quarter of ‘08, EXXON generated over $100 billion in revenue of which $11.68 billion was in profits, or $90,000/minute (WOW!!!!!!!!!!!). This is currently the largest ever corporate profit generated in U.S. history.
However I expect within the next month or so gloves will come off again and EXXON will be the target. Your fellow Congressman (When they return from vacation) will conduct another hearing on oil prices and request the presence in D.C. of CEO’s from the major oil companies. WHY, to justify their respective profits in relation to oil prices. This will have been the 3rd/4th time(or more..) Congress has done such. But you and I both know this is only a dog & pony show.
NEXT, there will be another call for a windfall profits tax. This will come from the Congressional DINOSAURS. Anything to create an impression to the American public that they are somehow trying to control oil prices (Which is something no politician can do with oil, or any other publicly traded commodity).
WALL STREET more than anyone really surprised me this week. On the date EXXON reporting earnings, the STREET had a sell-off of EXXON shares. I believe XOM dropped by $4 + dollars. This is in retrospect to the high earnings. I believe the STREET estimated more. Does not make sense to me, but I like you is still trying to analyze the STREET and how it thinks.
I would definitely purchase EXXON as a long term investment. Look at them as an investment and not some “pariah” as people portray them to be. They generate a large amount of cash flow and have consistent earnings.
ALSO, remember that EXXON is an “Oil Company” and not an alternative fuel company. So do not wait or expect them to invest in alternative energy because they are not in that business. They do not price gouge (Over 5 congressional hearings to investigate, no one has been charged with a crime).
Go EXXON!!!!!!!!!!!!!!!