Independent Christian Voice


PROFITEERS: Exxon Mobile posts 75% surge in quarterly profit

From Reuters:
Exxon Mobil Corp., the world's largest publicly traded oil company, on Thursday said quarterly profit surged 75 percent to nearly $10 billion, raking in a bonanza from record oil prices. The profit was the highest in the company's history, surpassing the record it set in the 2004 fourth quarter. Revenue jumped 32 percent to just over $100 billion. Two powerful hurricanes ripped through the Gulf of Mexico in the third quarter, disrupting energy operations in the region and sending oil prices and refining margins sharply higher. Exxon Mobil said net income rose to $9.9 billion, or $1.58 a share, in the third quarter from $5.68 billion, or 88 cents a share, a year earlier. > more
So, how to divert attention from all this profiteering news? The Washington Post explains:
To deflect the damage, the energy industry is relying on an ad campaign that was escalating even before hurricanes Katrina and Rita blitzed Gulf Coast petroleum refineries. The print and television ads are designed to educate consumers and lawmakers with a "we're all in this together" tone.
We're all in this together? Only if "we" means oil executives, their political minions (i.e. the GOP) and oil company shareholders. They are lining their pockets while the average American is scaping their pockets to pay for rising energy costs. Our country has faced catastrophic disaster after disaster, and in their wake some companies are racking up massive profits. Aren't their laws against profiteering? Those laws don't apply when it involves all the president's friends.


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