Exxon earnings soar on record oil prices
By Michael McGehee at Feb 01, 2008 |
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In the news today:
"NEW YORK (Reuters) - Exxon Mobil Corp (NYSE:XOM - News) said on Friday record oil prices boosted its fourth-quarter earnings to $11.66 billion, the highest ever operating profit by a U.S. company."
How more obvious can it be that oil prices are the result of extortion to increase profit earnings and not in response to costs of production or inflation?
If profits increase as costs increases then that means increased costs serve no other purpose than to further line their pockets.
Ya basta!



Re: Exxon earnings soar on record oil prices
By Davis, Connie at Feb 26, 2008 17:44 PM
I disagree with Mr. Christie\'s comment sort of... I agree the common population should actively try to use less oil... make less frivilous trips to the store, carpool, ride a bike/walk to work if possible and get rid of the gas guzzling SUV, etc... I could\'ve justified his statement that gas SHOULD be more expensive as a disincentive to use oil ...if I knew that extra money we are paying for gas were going into a national bank account strictly used for funding of more public transit, or research into alternative energy sources. But as Mr. McGehee aptly points out, that extra money serves no other purpose than to further corporate profits.
Most my neighbors where I live don\'t make over $28,000 a year. Most can\'t afford to buy a Hybrid vehicle, and more importantly, most have to drive over 15 miles to get to work. It\'s not like they\'re voluntarily buying this gas for their pleasure, (like, say... cigarrettes) they need the gas to get to work. No work... no money... no money to pay bills...
The vague nature of Mr. Christie\'s statement could lead one to beleive he is for raising the gas prices higher, regardless of who gains from it ...as a disincentive much like the increasing cost of cigarrettes are a deterrent to get people to quit smoking or never start ... respectfully, C.D.
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By Frchristie, Frederic at Feb 05, 2008 13:57 PM
True, but oil costs SHOULD go up to act as a disincentive for purchasing and using oil.
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