EXXON MOBIL Record Profits–AGAIN!

Yup the surge worked — record oil profits yet again. Those poor oil companies need more incentives for exploration–they’ve done SO MUCH with what they’ve had.

It is HAIL DUBYUS’s 5th anniversary. Given the continued marginalization by a certain HUGE search engine which will remain nameless, I’m not doing a cake this year. But we are persevering…

What Happens at the Gas Station, Stays at the Gas Station

Common glitch at pump adds to gas costs, also cheats station
(AP) BP and Shell post big profits in era of record oil prices
(ShareCast) Exxon Mobil “disappoints” with $10.9bn profit
Yes, folks, remember the Iraq war? The one that was supposed to pay for itself with oil revenues and guarantee the American people cheap oil for the next generation? Well, we’re going to hit $4 per gallon this summer–despite the fact that gasoline demand is DOWN–and the oil companies are still making obscene profits while housing, industry and banking are tanking. And to add insult to injury, they’ve got their fingers on the pump because of defective valves and people are being charged extra per fill-up. And is anybody doing anything about that? Hell, no, it’s illegal but there’s no regulation! Welcome to the country of the corporations, by the corporations and FOR the corporations. As long as they’re petroleum. Which shall not perish from this earth–until the oil runs out.

Tough Questions …

(WashPost) Familiar Back and Forth With Oil Executives
(AP) Congress Presses Oil Chiefs on Profits

Ahhh, that old familiar sound. Ka-ching, ka-ching! Do I hear 4 bucks a gallon? how about 5? The top executives of the Big Five–and when I say Big, I mean HUMONGOUS–were in Congress to explain how they managed to get record profits and STILL be subsidized by the Federal government. To a man, it wasn’t their fault. Their huge profits were in line with other industries. HUH? Say WHAT? Bear Sterns just went belly-up, banks are crashing in Europe, the bottom has fallen out of the housing market, and they say obscene profits are “in line”? Well, I guess the head of the line, 100 yards downfield of the second in line is still in line. It all depends on what a line is. Oh, they got hard hit by tough questions like, “How come you’re not investing in alternate energy research?” Well, there’s a good answer for that. THEY DON’T HAVE TO. Congressman, you act as if an oil company is supposed to behave responsibly. Corporations have no responsibility to act responsibly. Their only responsibility is to make the biggest profits they can get. And guess what. WE have made it easy for them to do that…