Friday, February 1, 2008

Today's Headlines

Exxon shatters profit records
Oil giant makes corporate history by booking $11.7 billion in quarterly profit; earns $1,300 a second in 2007.

So while I am paying $3.31 a gallon and spending over $50 to fill up my car thinking the cost of oil is up and there is nothing that can be done about it. Oil "giant" Exxon is recording record breaking profits? Is anyone else as pissed off about this as I am?

From the article:
"Exxon's record results, which coincide with smaller rival Chevron's profit jump, are likely to draw fire from consumer rights groups, who contend the oil industry is deliberately restricting supply and profiting on the back of U.S. motorists. They have previously called for a windfall profit tax on oil firms and have proposed breaking up the big oil companies created during the 1990s merger wave."

I am all for the government stepping in here and really putting a stop to this nonsense. I wish I could boycott and stop driving - but I live in the middle of BFE and have to drive 50 miles one way to work. I depend on that gas and it pisses me off as the prices creep higher to read that the oil companies are not just passing along a price increase but making even larger profits off my misfortune.

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