ExxonMobil scores enormous profit on record gas prices
Chevron earned $11.4 billion excluding special items, up 74% from the first quarter and 247% from a year ago.
Including one-time items, both earned hundreds of millions more: ExxonMobil’s net income reached $17.9 billion, while Chevron brought in $11.6 billion.
ExxonMobil’s net income came to $2,245.62 every second of every day of the 92-day long quarter. On that basis, Chevron earned $1,462.11 per second.
Since it takes about two minutes to pump 20 gallons of gas, that means between them the two oil giants earned more than $400,000 between them in the time it took you to fill your tank.
Reuters reported that this was a record profit for both companies — though neither mentioned that in their statement, as companies typically do when their earnings reach all-time highs.