ExxonMobil, suffering like the rest of its Big Oil peers from lower oil and natural gas prices, reported plunging earnings this morning. Net income for the second quarter came in at $3.95 billion, a 62% drop over the same quarter last year. At 81 cents a share, Exxon's results undershot analyst expectations. Yet shareholders received their usual largesse from Exxon: $7 billion in dividends and stock buybacks even while the company suffered a 4% decline in oil and gas production to a current 3.7 million barrels a day.....Complete Story
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