Would you like to make $1500 per second?
The Washington Post is reporting on Exxon Mobil’s second quarter earnings for 2008.
Exxon, that great behemoth of carbon fuel producers earned $11.68 billion (yes, BILLION) which factors out to about $1,500 per second over the last three months.
I have no problem with a business making profits. I own stocks so I like to see business make money. But when these oil-cartel-flunkies are decrying they have no control over the price of oil, then how can they produce such record profits? If their own costs have truly gone up, and they have raised their prices to protect their profits, then you would expect them to continue along a profit line, but this is blatant abuse of the American consumer.
This second quarter profit is “the biggest quarterly profit ever by any U.S. corporation” [emphasis added] according to the reporter. At a time when our country is suffering, people are losing their jobs due to company cuts, homeowners are losing their homes to foreclosure and hard-working citizens can’t afford to put gas in their cars, I call it criminal that a company like Exxon could produce a record profit like this one.
Where are our politicians/protectors now? (On vacation starting tomorrow…) We need to call them to task to regulate these abuses. There are some initiatives out there, but as usual, partisan lines are getting in the way. It’ll be a great day when our representatives actually look out for us, and not their party platforms. I don’t care what side of the aisle you’re on, when Americans and our economy are suffering, we need to come together.
