Wednesday, 6 February 2008

Money available to save the planet – Thank you Exxon Mobile for (potentially) saving the planet

With high oil and energy prices and there are obviously those making a lot of money. Beside those who I focus most on (oil income [GCC, Russian and Norwegian oil fund] and power companies that make a lot of money] it is obviously the big multinational oil companies…

Anyone talking about the lack of money for a transitional to a low carbon/resource efficient economy should take a look at the money available. February saw Exxon release their numbers for 2007 and with more than US$1000 profit every second from one (1) company during 2007 it is strange that people can say that we cannot afford to build the infrastructure that can save the planet …

From The New York Times:
“The company [Exxon Mobile] reported Friday that it beat its own record for the highest profits ever recorded by any company, with net income rising 3 percent to $40.6 billion, thanks to surging oil prices. The company’s sales, more than $404 billion, exceeded the gross domestic product of 120 countries.

Exxon Mobil earned more than $1,287 of profit for every second of 2007.”