Jan 30 2006
Exxon just handed the Republicans their Sister Soldjah moment. Exxon is reporting mind boggling record profits in a year where we the people have had to deal with mind boggling record gas prices.
IRVING, Texas – Exxon Mobil Corp. posted record profits for any U.S. company on Monday â€” $10.71 billion for the fourth quarter and $36.13 billion for the year â€” as the world’s biggest publicly traded oil company benefited from high oil and gas prices and demand for refined products. The results exceeded Wall Street expectations and Exxon shares rose nearly 3 percent on premarket trading.
BS fears and speculation allowed price gouging on a massive scale. We tolerated the price hikes because there were supposed to be possible problems and the extra money was supposed to help deal with a world wide price increas.
Well, it seems we were mislead.
$36B means every man, woman and child could get $128 dollars if distributed. I am not saying this should be distributed. What I am saying is this is 4 tanks of gas which I paid directly to one company. Now I am a family of six so you can say we paid for 24 tanks of gas to this company. That is half my gas for one care (assuming one tank a week). Is that too much profit? Yep. And these oil companies played this game knowing full well there was no price pressure on them we were covering.
Time to pull these price gougers in front of Congress. Time for Reps to fight for the little guy and gal. Because, there are times when business goes to far. If price gouging was illegal for those places ravaged by Katrina due to the national emergency, then that would include Exxon.