Exxon Mobil’s bottom line is the latest victim of plunging oil prices. The nation’s largest oil company reported a 58% drop in fourth quarter profits, and a 50% drop in profits for the full year, as oil pricestumbled 35% last year.
Last year’s fall in gas and oil prices was great for consumers, saving the average U.S. driver $540 last year. But it left Exxon Mobil with earnings of $2.8 billion for the quarter and $16.2 billion for the full year. That’s fraction of the near record annual profit of $44.9 billion it earned as recently as 2012.
