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Exxon Mobil Corp. shattered its own record as the world's most profitable publicly traded corporation, as rising oil prices helped the company bring in better-than-ever income and revenue for the fourth quarter and 2007.
Irving, Texas-based Exxon's net income rose 3% to $40.6 billion in 2007, surpassing its 2006 record of $39.5 billion.
"Congratulations to Exxon Mobil and Chevron -- for reminding Americans why they cringe every time they pull into a gas station and for reminding Washington why it needs to act swiftly to break our dependence on foreign oil and rollback unnecessary tax incentives for oil companies," Sen. Charles E. Schumer (D-N.Y.) said in a statement.