Give me more

By Ron Beasley

Exxon posts record $11.68 billion profit

NEW YORK (CNNMoney.com) -- Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.

That profit works out to $1,485.55 a second.

That barely beat the previous corporate record of $11.66 billion, also set by Exxon in the fourth quarter of 2007.

But that's not enough.  They want more.  While the oil companies still have a friendly administration they want to add ANWAR and land of the east and west costs to their savings accounts. 

The high oil prices have had a positive impact - an increased push to look for alternatives.  Human nature is such that industry and individuals will not change until the are forced to either because of price or non availability.  Viable alternative are rapidly becoming available for all forms of surface transportation and the move in that direction should be non stop.  There may well become a time when it is necessary to drill off shore but there is no reason to give the oil companies those leases now.  Giving the oil companies those leases at bargain basement prices now will not help anyone but the oil compainies.