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Environmental groups Thursday sued the Obama administration over its approval of a Shell plan to drill for oil deep under the Gulf of Mexico. The suit was the opening salvo in what could be a lengthy legal fight over U.S. drilling policy following the resumption of oil and gas exploration after the Deepwater Horizon disaster. It came a day after ExxonMobil announced one of the largest oil discoveries ever in the Gulf…

Exxon agrees to pay out 75 percent of Valdez damages Wed Aug 27, 2008 9:36am EDT SEATTLE (Reuters) - Exxon Mobil agreed to pay out 75 percent of a $507.5 million damages ruling to settle the 1989 Exxon Valdez oil spill off Alaska, the Anchorage Daily News reported on Tuesday. Citing both Exxon and the plaintiff's lawyer, the Anchorage Daily News said the oil giant will release about $383 million for distribution to the nearly 33,000 commercial fishermen and others who sued Exxon after the worst tanker crash in U.S. history.

An excerpt from Rush Limbaugh dot com, paid subscriber's side:Rush speaks: But the interview with Charles Gibson on ABC, and they write this up at the ABC website: "ExxonMobil CEO and chairman Rex Tillerson defended his company's staggering $11.7 billion in profits for the second quarter, saying that the company's earnings reflected the magnitude of its business operation. '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,' Tillerson told ABC News'...

Sparks fly as ExxonMobil profit tops 10 billion dollars Jul 27 12:38 PM US/Eastern Surging oil prices helped drive quarterly profits for US energy giant ExxonMobil to 10.36 billion dollars, the latest in a string of mammoth profit reports that have drawn fire for the industry. The second-quarter profit was up 36 percent from a year ago and approached the company's all-time record profit of 10.71 billion dollars that was believed to be one of the biggest for any company. Stoked by skyrocketing crude-oil prices, ExxonMobil's net profit in the quarter to June came to 1.72 dollars per share. That...

NEW YORK (CNNMoney.com) -- Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter. Eleven Billion might sound like a lot but compared to 700 Billion going to the middle east and the Billions to government in taxes for doing nothing. Its a drop in the global oil bucket.

US govt seeks $92 mln extra for Exxon Valdez spill By Chris Baltimore 55 minutes ago The U.S. government on Thursday said it will pursue $92 million in extra damage claims against Exxon Mobil Corp. for the 1989 Exxon Valdez oil spill in Alaska, the worst in U.S. history. Four U.S. agencies including the Justice Department and the state of Alaska say it will cost that much more to clean up lingering environmental damage from when the Exxon Valdez supertanker ran aground in Alaska's Prince William Sound and spilled about 11 million gallons of crude oil. Irving, Texas-based Exxon Mobil,...

UNITED STATES/Washington, DC Did conservative elements in the White House provoke an Exxon front group to sue EPA to suppress a report on climate change? That's the question that two State Attorney Generals have asked US Attorney General John Ashcroft to investigate, after Greenpeace uncovered a routine email in a Freedom of Information Act request. In the email, Myron Ebell of the Exxon-funded Competitive Enterprise Institute writes to Phil Cooney, a senior official at the White House Council for Environmental Quality. He describes his plans to discredit an EPA study on climate change through a lawsuit. He states the...