Exxon Mobil Corp. reported its lowest quarterly profit since 2003
Paula Zuba
Jul. 30, 2009

Tough time with lower energy demand signals the confirmation of economic depression in the making. Exxon Mobil Corp. reported its lowest quarterly profit since 2003.

Oil price in recent days have rebounded. But that does not provide the real picture. The results reflect dismal conditions in the energy sector, which has posted weak results as months of lower energy prices dragged on earnings after a boom in prices a year earlier.

Many analysts, though, expected major oil companies to do better in the second quarter than in the first quarter as oil prices rebounded significantly.

The overall weak energy demand is singificant. It just shows the dismal condition of the economy.

Exxon Mobil Corp. reported its lowest quarterly profit since 2003
Paula Zuba
Tough time with lower energy demand signals the confirmation of economic depression in the making.
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Data may show Consumer confidence fell to 48.5 in July, from 49.3 the prior month
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New house sales in the US jumped by 11 per cent in June – why is lumber price so weak then?
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The price divergence between new home prices and the lumber price shows the fact that demand is artificially created by unrealistic price reductions. That is not sustainable on the long term.
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