4.26.2007

Oil Profits While Consumers Suffer

I hate stock market reporters. I hate that they spew data and numbers without even the slightest nod to the profiteering being undertaken by the oil companies.

Nope, instead they say pathetically stupid things like "Well, your 401K plan is benefitting from the record oil profits" which completely overlooks the fact that crude oil prices haven't really changed all that much in the last year. And yet, Exxon Mobile is returning record profits each quarter.

Why? Because gas costs fucking $3.59 a gallon and they could easily be charging $2.59 a gallon but they'd make much, much less profit and, at the end of the day, big companies couldn't be bothered to give a shit about the people they are screwing over.

Of course there's no inquiry or give a damn from the White House, our Fool-in-Chief is a Texas oilman, he grew up screwing people over for "black gold". He sees profit margins like what Exxon is turning in as a sign that the economy (of his rich exploitive pals) is doing quite well and to hell with the "commoners" who have to cut back on groceries to afford to keep their cars running.

Do you remember the proposition last November? Do you remember that deal that would have made it totally illegal for the oil companies to raise their prices for no reason?

Well, now they have safely secured their ability to squeeze more money out of everyone in California that drives a gas burning car. But then, what should I expect from a state that elects the goddamned Terminator as governor.

If Arnold wanted my support and the support of more Californians then he'd take some action to bring the oil bullies into line. Of course, then they could just roll up shop and go home, which would be difficult. All I know is that I'm envious of Venezuela and their rejection of OPEC's fetid teat.

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