Bushonomics

Exxon Mobil Corp. on Thursday said earnings rose six per cent to $US10.5 billion, the second-largest quarterly operating profit ever by a US company:

"It seems like almost every quarter Exxon Mobil and the other big oil companies are shattering all previous profit records," Rep. Edward Markey, a Massachusetts Democrat, said in a statement.

"These companies are doing so not because they're creating any new product or being innovative, but because they control the supply of foreign oil that feeds America's addiction."

Meanwhile, US home prices fell last month by the largest amount in 35 years and owners are being warned to brace for further declines.