This kills me.
Exxon Mobil, just one of several oil companies, continues to break profit records. Not just profits within the oil business, but all businesses. No company has ever earned as much profit as Exxon Mobil. Mind you, the rest of the oil competitors (and it is a competition) continue to profit annually in the billions themselves. The oil man does not go without.
In 2005, Exxon exploded the earnings record, reaching the highest profit ever earned by a company. Ever.
It was a fluke, some may say. Nope.
The trend continued.
And still continues.
In 2006, Exxon reported a $39.5 Billion profit. Shell reported that year a $25.44 Billion profit. A side note would be that Citigroup earned over $25 Billion that year also. (New York Times) A safe assumption would be that a strong correalation resides there. Dare I assume that millions of people had to turn to credit in order to afford the rising cost of gasoline? I think that’s a safe assumption.
It doesn’t end there. The profits continued for the likes of Exxon in 2007 where the company profited at a rate of $1,287 a second. That’s $4.6 Million an hour! AN HOUR!!!!! That’s a total annual profit weighing in at $40.6 Billion. (Washington Post)
So let’s look at this bigger picture. The cost of oil rises, or so they tell us, so the price of gasoline rises with it. This makes sense. If it costs the vendor more to buy their resources, they must increase the sale price to turn a profit. But something’s wrong with this picture. Their profits rise at record rates each year. As they drive up our price of gas, their profits soar! And we, the American people, are slowing being driven to poverty.
How can there not be a direct correalation to the price of gas and their profit? Why are we paying more for an essential need like gasoline just to turn a bigger profit for these companies?
Someone or some people are allowing the profits of a few to lead to the poverty of the many. As many speculate that gasoline prices could reach as high as $8 a gallon this year, I find it a safe assumption that Exxon will report yet another record breaking profit for 2008.
This should not be happening.
Recent Comments