Exxon Dethrones Wal-Mart on Fortune 500

from Breitbart

Skyrocketing energy prices propelled Exxon Mobil Corp. to the top of the 2006 Fortune 500 list, and consigned Wal-Mart Stores Inc. to the No. 2 spot on the magazine's annual ranking of the nation's largest publicly traded companies.

Fortune compiled its list based on companies' 2005 revenues. Exxon Mobil raked in $340 billion in revenue, a 25.5 percent increase over and had $36.1 billion in profits, the most by any U.S. company in history.

Wal-Mart had $315.654 billion in revenue, a 9.5 percent increase from last year. Because of its pervasive U.S. presence, the world's largest retailer has struggled to sustain profit growth in the high teens as it had in previous years.