Gas Prices Down, Oil Companies Still Make Money

We’ve kind of giggled at recent conspiracy theories revolving around falling gas prices. Were they an attempt to help out the GOP in next month’s elections? An OPEC attack on E85? The thought that the oil companies would artificially lower gas prices to achieve their goals may or may not be true, but one thing is for sure: they’re still making oodles of money. Today, ExxonMobile reported record profits for the third quarter totaling $10.5 billion. That’s higher than last year’s $9.9 billion net income in the same quarter. This should douse any Internet rumors of Big Oil controlling the world, for awhile.   

[ExxonMobil Profit Gushes Higher, USA Today]