I don’t know how stupid you think everyone is.. but…
The Chiefs of the big 5 oil companies defended their record breaking profits this year in front of the congress today. When I say record breaking, I mean more than any company in any industry EVER.
Together, these 5 oil companies earned more than $25 BILLION in profits in the 3rd Quarter as the price per barrel rose to $70 after the disruptions caused by Katrina and Rita. At a time when we were seeing record destruction and devistation in our cities, some were seeing a great opportunity to cash in.
The explanation by one of the oil chiefs was that “earnings goes up and down year to year”.
According to the chief of ConocoPhillips, whose profits rose 89% from the same period last year, states that he does not consider that margin (+89%) a windfall.
WHAT the FUCKING HELL? You don’t think 89% is that big of an increase within a year?!! This is NOT a normal cycle of profits. How are you people keeping a straight face and not breaking into laughter when you say this crap?
The ExxonMobil Chairman was quoted as saying “It’s the profits that makes the company run and make the economy run”. Well, you got one part right.
How exactly do you think the high cost of gas and heating bills in the winter will help the economy is beyond me. Perhaps you’re just talking about yourself. I’m sure you’ll get a nice big bonus out of this, and maybe you’ll buy a couple of new houses where people will be hired to work on your lawn and clean your house. See new jobs for everyone!
Bravo for helping to keep the economy going.
For some reason, the Republicans denied Democrats’ request to have these chief’s testify under oath. I can’t even think of a mildly good reason why this testimony doesn’t need to be under oath. What the hell? Someone PLEASE explain to me the logic behind this.
What? The oil chiefs may not be truthful if they're under oath or something. Oh wait, no, that's the whole fucking point of being under oath. Does the Republicans not want the oil chiefs to have to tell the truth?
I’m glad there are Republicans that are questioning the oil companies and these record breaking profits. Make no mistake. $25 BILLION profits in 3 months time is a lot. A shit load if you will. The bigger test will be if there’s anything done about this.
According to many accounts, this hearing will result in a lot of rhetoric, and maybe some threats, but likely result in very little action.
Of course, looking to this administration for any help with oil companies would be a good laugh.
There comes to a point when even Republicans cannot stand by as big corporations continue to take advantage of the citizens of this country. Of course, being that many of these Republicans are in the back pockets of the oil companies, it may be long time before this ass raping stops.