Monday, March 15, 2010
Exxon Mobil posts largest annual profit ever, U.S. economy sees largest decline in 26 years
As the U.S. economy continued its steep fall into a deeper recession, many major oil companies – in particular Exxon Mobil – enjoyed a steep ascent into record-setting profits.
The U.S. gross domestic product (GDP), which measures economic activity, fell at a yearly rate of 3.8% in the fourth quarter of 2008 (adjusted for inflation).
That’s the [...]
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