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Friday, February 1, 2008
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Legal rape at the pump
posted by
Dookie The Webmaster
8:34 AM
Exxon Mobil Posts Record Profits
Exxon Mobil Corp. on Friday posted the largest annual profit by a U.S. company - $40.6 billion - as the world's largest publicly traded oil company benefited from historic crude prices at year's end.
Exxon also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, besting its own mark of $10.71 billion in the fourth quarter of 2005.
The previous record for annual profit was $39.5 billion, which Exxon Mobil reported for 2006.
What recession?
Dookie's version of Exxon stock since Bush took office:
February 28th, 2003: $34.02 (Pre-Iraq War)
Yesterday: $86.40
Highest ever: $95.27 (October 17, 2007)
Chart
Permalink
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2 comments
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You buy their product what do you expect their profits to do? Go down? Boycotts are such a hassle though, huh?
posted by
at 3:44 AM |
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Ever notice that oil prices go up and up all through the year, but in August, they mysteriously go DOWN for a few weeks, and then start to climb back up once again? That's because the government ignores the inflation index for most of the year but pays the most attention at the way things are in the 4th quarter (August) to determine the following year's cost-of-living-adjustment (COLA).
This is why year after year, people on Social Security and Disability get shafted up the ass with a pathetic 1-digit increase while inflation in general has skyrocketed. It's like one step forward, but three steps back for the poor.
And this shows me that the government AND the oil companies really DO have control over the markets, and they CAN adjust them at whim. Don't let anyone tell you otherwise!
posted by
at 6:58 PM |
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