Thursday, October 30, 2008

The cost of oil. . .

How did it feel last month when gas prices had topped $4 per gallon? In my small 6 cyl. pick-up truck, which is a minimum requirement for working my farm, it cost me over $10 just to drive to town and back. I know how it made me feel. . . I was wondering how long I could continue. As gas prices crept up, I went out and got work outside the farm. Now, one would have thought that being a benevolent international and U.S. based corporation, Exxon/Mobile would have contributed to the well being of our country by cutting back some of their profits so that the working people of America could get around. . . .

Exxon Mobil posts biggest US quarterly profit ever

HOUSTON – Exxon Mobil Corp., the world's largest publicly traded oil company, reported income Thursday that shattered its own record for the biggest profit from operations by a U.S. corporation, earning $14.83 billion in the third quarter.

Bolstered by this summer's record crude prices, the Irving, Texas-based company said net income jumped nearly 58 percent to $2.86 a share in the July-September period. That compares with $9.41 billion, or $1.70 a share, a year ago.

The previous record for U.S. corporate profit was set in the last quarter, when Exxon Mobil earned $11.68 billion.


Down in Venezuela, the gov't runs the oil industry. They have cheap gas and all the profits go toward social programs. I'm not suggesting that we nationalize the oil industry and become a dictatorship like Venezuela. . . we've seen where that might get us the past 8 years. Our dictator might just be another oil company lackey like MoronMonkeyBoy Bush the Chimp. But ya know, maybe we do need to regulate these greedy motherfuckers. They're sucking up the wealth of our nation at a startling rate. The poor are getting poorer, the middle class is barely surviving and the working class is becoming poor. You can't sell a decent $75,000 house in our capital city, I know, I've had one sitting for over a year, yet they continue to build $500,000 houses up on the hills.
And the proles will go to the polls and vote against their best interests once again, but the outcome this time may be different.
How do Exxon/Mobile's record profits make you feel.

Damn, I wasn't going to post anything political till 11/04. . . that lasted 24 hours.

5 comments:

themom said...

OH no, I think that some regulation needs to apply to this industry - after posting a nauseating profit like that, when people had to lose jobs because they no longer could afford gas to get to work. This is wrong.

Ed The Sports Fan said...

lol...just someone tell me the reason why gas prices are so low now? what other economic reason is there other than...oh wait, there's an election coming up. There's someone leaving office soon...i dunno man, smells kinda fishy to me.

-Ed.
www.edthesportsfan.com

SagaciousHillbilly said...

Hey Ed, Happens every year there are republican seats in contention. The price of gas falls. This year they aint gonna be able to get it low enough.
And really, the price of oil per bbl has plummeted the past couple months which accounts for some of the drop in gas price.

Inanna said...

Nauseating! And all I've heard is a bunch of bullshit about Obama wanting to "spread the wealth around." WTF? People! The oil companies have RAPED US! Those are your hard-earned dollars! And this is okay with you? They don't need any regulation? They don't need to pay more taxes?

What the "F" ever.

SagaciousHillbilly said...

What she said!!! That's what I like. . . disgusted and pissed off indignation! Damn right these corpo-fascist pieces of shit are enough to make you sick!