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Oil Profit $ = Obscene


graph1.jpgThe Washington Post on February 2nd, 2008 wrote a story that Mobil Exxon, the largest oil company, made over 40 Billion Dollars profit in 2007 and the second largest company, Chevron, made over 5 Billion Dollars in profit for 2007.

Exxon reported that 11.7 Billion of their profit came in the 4th quarter of the year.

While most of Americans try to survive, plus adjust to “pump price shock”, it seems that there is a segment of America where “recession” is not a reality.

As I fight and struggle paying almost $150 dollars at the pump a month I have only one word for the oil companies and their profit, OBSCENE!

2 Comments leave one →
  1. 02/04/2008 9:10 am

    Be glad its only $150.00. My wife and I are spending about $500 a month in gasoline.

    But why punish these companies for being successful . . . all of us have the opportunity to become as successful as they are. No one is keeping you from creatively earning more money if that’s what you want. The only real limitations we have are those that we impose upon ourselves.

    For example, I have chosen to spend my creative energies working as a Pastor. There’s not a ton of money in it, but it’s what I’ve chosen. My goal is to work hard and be successful in my calling and profession.

    Perhaps the government should take those profits in windfall taxes (which they already do to a lot of it) and redistribute to people. That would work for a while, but eventually the oil companies lose their incentive to be successful and what do you get? Something that looks the old Soviet Union as it fell apart?

    I don’t like the profits and its tempting to think that the government should regulate, but regulation can also put us on a path that might not have such a happy end.

  2. poorworkingstiff permalink
    06/15/2008 8:53 pm

    Do you know how much in taxes Exxon paid during that same year where they made a profit of $40.6 billion? Try over $102 billion.

    Yes. We are being absolutely raped at the pump — and most of it is going to taxes.

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