Exxon: Don't Hate Me Because I Have All of Your Money
On one hand, I can't begrudge a business being successful. My libertarian friend would counsel me about the free market and businesses just charging what the market will pay. But there's another part of me that feels like Exxon and the other oil companies have me over a barrel...an oil barrel.
The LA Times focuses on the eye-popping numbers: "More than a billion dollars a day, $45 million an hour, almost $340 for every living American — that's what Exxon Mobil Corp. reported in third-quarter revenue Thursday.
"The Irving, Texas, oil giant said sales totaled $100.7 billion — the most by any company in history — and reported a profit of $9.9 billion, an oil industry record. The financial results drew outrage from politicians and consumer advocates who see historically high U.S. gasoline prices as evidence of profiteering."
Scarily enough, I gotta agree with Republican Gov. Mike Huckabee, who said during his AETN call-in show on the subject: ""There's no reason that they [oil companies] should be profiting at that level when everyone else is suffering the consequences. ... It doesn't make sense that somehow this one sector of the economy is recording their highest record. ... "there's a point at which you cannot continue to just gouge people because you can, because they don't have an option. ... that's not a market. That's an immoral force [the bold emphasis is mine]."
Exxon Sales Top $1 Billion A Day [LA Times]
Exxon's Quarterly Profit Equals $45 Million An Hour [Seattle Times]
We Second the Huckster [Ark Times blog]
The LA Times focuses on the eye-popping numbers: "More than a billion dollars a day, $45 million an hour, almost $340 for every living American — that's what Exxon Mobil Corp. reported in third-quarter revenue Thursday.
"The Irving, Texas, oil giant said sales totaled $100.7 billion — the most by any company in history — and reported a profit of $9.9 billion, an oil industry record. The financial results drew outrage from politicians and consumer advocates who see historically high U.S. gasoline prices as evidence of profiteering."
Scarily enough, I gotta agree with Republican Gov. Mike Huckabee, who said during his AETN call-in show on the subject: ""There's no reason that they [oil companies] should be profiting at that level when everyone else is suffering the consequences. ... It doesn't make sense that somehow this one sector of the economy is recording their highest record. ... "there's a point at which you cannot continue to just gouge people because you can, because they don't have an option. ... that's not a market. That's an immoral force [the bold emphasis is mine]."
Exxon Sales Top $1 Billion A Day [LA Times]
Exxon's Quarterly Profit Equals $45 Million An Hour [Seattle Times]
We Second the Huckster [Ark Times blog]
posted by JP at 8:34 AM
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