So last week, Exxon Mobil reported it's quarterly profits at 11.7 billion. That is 11.7 billion in PROFITS in three months. They broke the record for quarterly profits of any U.S. company ever. They broke the world record. The top 6 big oil companies reported a joint earning of just over 50 billion in quarterly profits. Gas prices have stabilized and even dropped a little. But I think there is and has been some serious price gouging going on, and I think it is time the government stepped in. Actually, I'm curious as to why they haven't already. The only reason I can think is that the top officials are getting money off all this also. I read in an article that both McCain and Obama recieved big money from oil companies for their campaigns. 8 years ago when Bush took office, gas was less than $2.00 a gallon. Can you imagine paying that now? I think Americans have stood by and watched gas prices rise because we think we're somehow being patriotic. If we don't have loved ones in the military, the truth is we are untouched by the war in Iraq. It doesn't affect our personal lives the way it does Iraqis. So we feel duty bound to pay the high cost of continually rising gas prices and not complain too loudly about it. But the truth is, with Exxon Mobil reporting that much profits, we are not paying for a war at the pump, we are making a few oil men rich. I mean, it all seems a little crooked to me. And the economy is floundering because of it. The cost of living is increasing exponentially. Local police and fire forces have had to make severe staff cuts becasue they can't meet their budgets. I can't totally blame the housing crisis on big oil, or the fact that unemployment is up and every day I hear of companies going out of business and millions of americans losing their jobs, but I'm sure it contributes. And I want something done about it. No more excuses.
Disclaimer: I'm not as well researched on this subject as I'm sure I should be if I'm going to rant like this. But I had to get it off my chest. I hope I haven't offended anyone.
2 comments:
I am so there with you. I almost wrote a blog entry on it myself when I heard about the oil company profits. Seriously though - why is nothing being done?
I agree! I just wonder when it's going to change. I'm pretty disgusted too at the PR commercials exon-mobile has been showing. we can pay all that for gas and they'll give back to the community so it's ok?! I'm not buying that!
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