I'm surprised noone has really started to discuss this yet, since it basically effects all of us.

Yesterday afternoon, I heard on the news that Exxon Mobil posted record profits for Q4 2005. They accrued $10.7B (yes, that's billion) for the 4th quarter of the year last year and earned a net income of just over $36B (yes, billion again) for the year.

Infuckingcredible. They make $36B off of us because of the outrageous prices that we're paying at the pump. We have no choice. If we want to be able to commute around in our own cars, we will have to continue to pay these ludacris prices, all the while to help keep shareholders increasing their profits. Hopefully we'll see the government step in to try and help control crude oil and gas prices, but I don't see that happening as long as the Bush regime is in power.

CNN news story, MSNBC news story

 

Alot of people thought that the gas prices were high because of the war, but it really isnt the case. The US actually gets most of its oil from the Gulf.

 

Good for them. It has more to do with them selling more gas (including the 75% that they sell overseas) than them charging a high price at the pump. Actually, the're profit margin is still standing at 11% and it's lower than most big businesses. They made the mad loot on volume, not profit. (Kinda like Wal-Mart.)

For a comparison:


And the government will not step in, regaurdless of who's in the Whitehouse. If the government were to artificially fix the price of gasoline or a barrel of oil below the market price, the result would be an increase in demand without the necessary supply to support the demand. So Exxon will sell it's oil and gas to other countries whom could afford it. (i.e. China and India) And then we would have a gas shortage. It's a big machine which needs the all of the pieces to be working to go smoothly.

 

Couldnt have said it better.

 

That's really not that much.

 

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