Exxon Again Has Record Profits; One Question Left to Ask

For Immediate Release

Contact:
Nick Berning, 202-222-0748

WASHINGTON, D.C.Friends of the Earth Domestic Programs Director Erich Pica responded to todays announcement that ExxonMobil earned a record $45.2 billion profit last year:

Theres just one question left to ask. Given such obscene profits, why in the world are taxpayers forced to subsidize Big Oil to the tune of tens of billions of dollars? Message to Congress: the giveaways to Big Oil must end.

Friends of the Earth released an analysis last summer finding that oil companies stand to reap $33 billion in taxpayer-funded giveaways over five years. That analysis can be found here: /pdf/FoE_Oil_Giveaway_Analysis_2008.pdf.

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Friends of the Earth (www.foe.org) is the U.S. voice of the worlds largest grassroots environmental network, with member groups in 77 countries. Since 1969, Friends of the Earth has fought to create a more healthy, just world.