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Something to keep in mind about the long-continued regular increase in Oil Company profits.

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ThomWV Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-14-11 05:34 PM
Original message
Something to keep in mind about the long-continued regular increase in Oil Company profits.
When Exxon or Chevron or GE announces yet another quarter of year on year record profits, when one company earns more in a quarter than any other company in the history of mankind you should keep one thing in mind. Their profits came at our expense. Set aside for a moment that they pay little or no taxes on those profits, set aside for a moment that some of them actually receive tax rebates after "earning" astounding profits; just keep in mind that even in these last lean years, when our fuel demands have gone flat as we travel less that our energy overlords have managed to take a bit more out of our wallets this quarter than last and last more than the one before and before and before.

So I do not rejoice at the news of increased Corporate profits, in fact more often I sit in awe of them, those companies that manage to take that much money out of our pockets and not go to prison for how they did it.
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Curmudgeoness Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-14-11 05:39 PM
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1. I am with you, ThomWV.
We all know that the profits are coming out of our hides, we see it every time we go to get fuel. And we want them in prison when they tell us that the prices are due to shortages, higher costs, prices on crude rising. Like we are too stupid to add and subtract.
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Tuesday Afternoon Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-14-11 05:50 PM
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2. K to the R
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safeinOhio Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-14-11 06:43 PM
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3. So, where are all of those jobs?
Exxon hiring? GE?

yup, but not in the good ole USA.
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Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-14-11 06:53 PM
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4. I also think of the corners they're cutting, especially overseas
and the way those companies are being looted by upper management while stiffing their workers and stockholders.

Everything you said is true. This is just more of it.
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