DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Exxon Mobil 1st-qtr earnings

**hrthwhr** · 02-05-2008, 11:14 AM

meh, a great deal of the profit is due to the dollar being so weak. If our currency was at the strength it was in 2000, a barrel of oil would be in the $60-$65 range, thus cutting thier profits almost in half. There are a lot of things you can blame on Big Oil, but the weakness of the dollar is not one of them. Actually, big oil (oil is for the most part bought with dollars) is one of the reasons the dollar hasn't fallen farther, faster.

02-05-2008, 11:14 AM	#14
hrthwhr Join Date Oct 2005 Posts 368 Senior Member	meh, a great deal of the profit is due to the dollar being so weak. If our currency was at the strength it was in 2000, a barrel of oil would be in the $60-$65 range, thus cutting thier profits almost in half. There are a lot of things you can blame on Big Oil, but the weakness of the dollar is not one of them. Actually, big oil (oil is for the most part bought with dollars) is one of the reasons the dollar hasn't fallen farther, faster.
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