ExxonMobil Makes Godlike Profits, but Mortal Challenges Remain

ExxonMobil, the globe-straddling fossil-fuel colossus, reported record-setting profits this week. By record-setting, we mean no Texas company has ever reported a bigger quarterly profit from its business operations. We didn’t adjust for inflation, but even if we had, it would rank in the top three.If there was any whooping and fist-pumping within the executive suite—a.k.a. the God Pod—at Exxon’s headquarters in Irving, that wasn’t evident when CEO Darren Woods spoke to investors. He called the results merely “very strong,” which is kind of like calling the Mississippi River “very large” or Texas politics “very conservative.” Technically true, but it fails to capture the immensity.Thanks to soaring oil prices and enormous refining margins, Exxon raked in $17.9 billion in profits and $115.7 billion in revenue for…

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