Exxon profits while we scrape for gas money.

February 3rd, 2007 | Posted in News | Comments Off on Exxon profits while we scrape for gas money.

When does profit become profiteering? One answer is when greed drives
prices way up to take excessive advantage of a shortage, perceived or
real, and pass on a lot more than increased costs to the consumer.

You see, ours is a culture that has become Dependant on oil and the
things such as gasoline that are made from it. Therefore oil companies
know that they have us over a barrel (pun not really intended), and have
been charging us as much as they can, increasing that price every time
they find some excuse to do so.

Sooner or later, I’m absolutely certain that this is going to blow up in
their faces.

Mobil ’06 profit: $39.5B

HOUSTON — Exxon Mobil Corp. topped its own record for the biggest
annual profit by a U.S. company last year, racking up earnings that
amounted to $4.5 million an hour for the world’s largest publicly
traded oil company.

The oil giant reported the record net income — $39.5 billion —
despite a 4 percent drop in earnings in the final three months of
2006, as prices for oil and natural gas fell from extraordinary levels
earlier in the year.

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