Big Oil's Profits Swell

Exxon Mobil reported today its best quarterly profit in history, posting a 14 percent increase in second-quarter net income. Shell, Europe's largest oil company, reported a 33 percent increase. Senator Bernie Sanders, said, "Today there is some good news and some bad news. The bad news is that oil is at $123 a barrel and working people are paying $4 for a gallon of gas, and this coming winter residents of the Northeast could be paying over $5 for a gallon of heating oil. But there is some goo

Exxon Mobil reported today its best quarterly profit in history, posting a 14 percent increase in second-quarter net income. Shell, Europe's largest oil company, reported a 33 percent increase. Senator Bernie Sanders, said, "Today there is some good news and some bad news. The bad news is that oil is at $123 a barrel and working people are paying $4 for a gallon of gas, and this coming winter residents of the Northeast could be paying over $5 for a gallon of heating oil. But there is some good news. Today, the CEOs of Exxon Mobil, Shell, BP and ConocoPhillips are celebrating. They're feeling pretty good. And, they have good reason to feel that way."

To read the senator's entire comments, click here.