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Don’t be fooled by oil industry woes
Thursday, August 07, 2008 | 1 comment(s)
Is anyone else amazed that the gas prices dropped days before the announcement of the biggest quarterly profit ever for Exxon. At $11 billion they still have the gall to expect us to feel sorry for the stockholders not receiving the profits they expected. I do not know how stupid they think we are.
Just because they have sold more stocks, therefore the division of the $11 billion is by more than expected, it is still $11 billion profit. This goes with the consecutive $10 billion quarters over the past year. They still get by with gouging the public with inflated prices and will continue to do so, because there are no regulations or competition to prevent it.
They say they need it for future research and development, millions of which are used to buy off patents to improve mileage on gasoline engines and oil exploration. Those costs are still before the bottom line.
We don’t have to worry about terrorism destroying this country, we have oil companies doing a fair job right now. You can tie gas prices to almost every dollar spent in the family budget and it is dragging down the spending power of everyone. It is destroying the lower income families and the old level of middle class is dropping into the poverty levels. There are a few hundred people in this country feeding off of the despair of millions. I am hoping for someone to step up and do what is right for this country and make the oil companies take responsibility for their actions.
If anyone else feels this way contact our state and federal representatives. It is an election year so now is the time to get them to do something.
Just because they have sold more stocks, therefore the division of the $11 billion is by more than expected, it is still $11 billion profit. This goes with the consecutive $10 billion quarters over the past year. They still get by with gouging the public with inflated prices and will continue to do so, because there are no regulations or competition to prevent it.
They say they need it for future research and development, millions of which are used to buy off patents to improve mileage on gasoline engines and oil exploration. Those costs are still before the bottom line.
We don’t have to worry about terrorism destroying this country, we have oil companies doing a fair job right now. You can tie gas prices to almost every dollar spent in the family budget and it is dragging down the spending power of everyone. It is destroying the lower income families and the old level of middle class is dropping into the poverty levels. There are a few hundred people in this country feeding off of the despair of millions. I am hoping for someone to step up and do what is right for this country and make the oil companies take responsibility for their actions.
If anyone else feels this way contact our state and federal representatives. It is an election year so now is the time to get them to do something.
Tim Groce
Coos Bay
Coos Bay
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