Thursday, August 14, 2008

Transcript: Rex Tillerson, ExxonMobil CEO

ABCNEWS Charlie Gibson's Full Interview with Rex Tillerson

Facts from Interview that you might not know:
CHARLES GIBSON: We in the media have made a lot of the profits that ExxonMobil has made, particularly in the last couple of quarters -- more than $10 billion in profits first quarter this year; more than $11.5 billion in the second quarter of the year. When people, I don't know, complain about that to you or say how dare you? Those profits are obscene. What's your best -- in brief form -- what's your best justification?

REX TILLERSON: Well, I think it has to do with an ability to understand just the size of our business. Everything we do, the numbers are very large. I saw someone characterize our profits the other day in terms of $1,400 in profit per second. Well, they also need to understand we paid $4,000 a second in taxes, and we spent $15,000 a second in cost. We spend $1 billion a day just running our business. So this is a business where large numbers are just characteristic of it.

Very interesting interview.

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