Tuesday, April 22, 2008

$40 Billion+ Profits For Exxon-Mobil! Oh Boy!

As I filled up my partner’s Prius this week, I watched the numbers on the pump go higher and higher and I felt proud. Proud that I could help America, or at least one of America’s companies become number one.

As I paid for the $3.55 per gallon gas, I was almost moved to tears as I realized I was playing my part in helping to make America, or at least one of America’s companies great.

It makes an American proud when his country is recognized, or at least one of America’s companies is recognized as number one in the world! And as I drove away I shivered in pride knowing that Exxon-Mobil ranked the #1 company in profitability in the world for the fifth year in a row!

OK, so beyond that little exercise in irony the story of Exxon-Mobil’s record profits for yet a fifth year reminds me just how much corporate greed affects every American. High gas prices have made those record profits for Exxon and speculators in the oil futures market have driven prices up precipitously. Everyone is making a fast and big buck on the gas crunch except the American consumers. We, the consumers, don’t even get the price of fuel figured in the government’s economic statistics about us. Too volatile, they say.

Volatile enough for Exxon to make over $40 billion in 2007. Wonder when any of that record profit will trickle down to the average American and help him or her fill up their tank?

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