Exxon is passing the costs right into their company cash coffers as they prepare to surpass the mighty Microsoft as the most cash-laden US company.
The oil companies are constantly turning their pockets inside-out in order to appear sympathetic with consumers, all the while proclaiming that they do not make money from the increased prices and merely pass the costs on.
If that’s true, why is Exxon about to surpass Microsoft, the most cash-rich non-financial company for the past many years or possibly longer? It’s no secret that Microsoft basically prints money with software and has used questionable market tactics to gain their position at the top of the greed pile, so seeing Exxon rise so quickly recently should raise your eyebrows (and possibly turn your stomach at the sheer level of unadulterated greed).
Although a $3 billion cash gap remains between Exxon and Microsoft, Exxon is producing cash at a faster pace; its cash holdings could eclipse Microsoft’s within a couple of months. In the first quarter, Exxon’s total cash rose by $3.3 billion, while Microsoft saw total cash increase just $261 million.
So, the next time you see those poor oil companies talking about just how hard they work to keep things affordable, especially after they pay a CEO $400 MILLION to RETIRE, remember poor Microsoft and think how they must feel.