July 31, 2008 at 14:00 PM EDT
Dolla Bills, Y’all: Record Profits Benefit Oil ETFs
It probably was no mystery where the money for all the oil was going as rising prices drained pocketbooks and benefited exchange traded funds (ETFs). If you were wondering, though, Exxon Mobil (XOM) has solved the mystery by reporting a second-quarter profit of $11.7 billion, the biggest profit from operations ever by a U.S. corporation, reports [...]
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