Mommy, Why are Gas Prices so High?
...ExxonMobil's profits are likely to soar above $10 billion this quarter on the back of the fuel crisis.
That's $110 million a day, and more net income than any company has ever made in a quarter. It's also a stunning 69 percent increase over the same period a year ago and a 34 percent jump from the $7.6 billion Exxon made just last quarter.
Go figure.
That's $110 million a day, and more net income than any company has ever made in a quarter. It's also a stunning 69 percent increase over the same period a year ago and a 34 percent jump from the $7.6 billion Exxon made just last quarter.
Go figure.
posted by cookie christine @ 9/08/2005
6 Comments:
At September 09, 2005,
oldwhitelady said…
PROFITS!! PROFITS!! PROFITS!! Can you believe how much those bastards are making off the people. These high gas prices are taking food away from some families. IT PISSES ME OFF! I am so disgusted!
At September 09, 2005,
Johnny Virgil said…
Just for fun, let's look at it a different way.
What do you pay for a gallon of milk? Now think about the process to get that milk to a place where you can buy it. It starts off as milk, out of a cow. It goes to a processing plant to get pasturized and put in containers. Then it's shipped to your grocery store. Now think about what you pay for a gallon of gas. It starts off as crude oil thousands of miles away. It has to be refined into light crude, then sailed thousands of miles over the ocean to a refinery in the States, where it refined again into different grades of gasoline, and treated in all sorts of different ways to meet the regulatory requirements of the individual states it's being shipped to. Then this gasoline is shipped in large trucks all over the US. The price per gallon doesn't seem so outrageous to me, considering what it takes to create a gallon of gas. Think about what Europe has been paying for the last 20 years. You're just upset because someone is making money, I think. I'm more upset at all the idiots driving Hummer IIs back and forth to the grocery store. Maybe if gas prices stay high, it'll force people (and the government) to actually do something about the amount of gas they burn like maybe get a car that gets 40 miles to a gallon instead of 12. Just my two cents.
At September 09, 2005,
cookie christine said…
but as you can see, the money that you and I pay for gas, rather than going to cover shipping expenses or pay the folks that work their asses off to get the petroleum products to us, is going to line the pockets of ExxonMobil stockholders.
Another example of the rich getting richer and poor getting poorer.
At September 09, 2005,
Johnny Virgil said…
perhaps. But we've determined that socialism and communism don't work. What else is there?
At September 09, 2005,
Johnny Virgil said…
Point taken, Rod. Perhaps I should have said "History has shown.."
Just because it never worked before doesn't mean a different implementation can't work in the future, I guess. I just don't see it happening any time soon.
At September 10, 2005,
Sylvana said…
Profit is what you get AFTER you pay for the businesses expenses, JV.
My question is, why did our government just give these filthy rich bastards so much of our money in that "energy bill"??
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