gmsisko1
10-27-2006, 08:42 PM
MORE RECORD OIL PROFITS
Oil giant Exxon Mobil has had another big quarter. Great! Another American company brings home the bacon. Their third quarter profit was announced yesterday...$10.49 billion. That's the second-largest quarterly profit ever....behind Exxon Mobil's 4th quarter total from last year. They are doing quite well. At least that money is not flowing back to the Middle East to some government oil company.
But of course, that's not how the media and the Democrats see it. You see, to them, the oil companies are ripping off the public. They fail to understand supply and demand. To them, the oil companies should "give back" some of their profits. Never mind that they do exactly that...give back the money to shareholders. But what the left fails to grasp is the market...simple supply and demand.
Why is Exxon Mobil so rich? Because they invested in oil exploration and because they refine and sell gasoline. They do this all at market prices. Exxon Mobil doesn't control the price of oil or gasoline, the market (and OPEC) does. But that's not what the media will tell you.
Remember: George W. Bush controls the price of gasoline. He lowered it a bit in time for the elections, but perhaps he needs to do it again.
By: Boortz
Oil giant Exxon Mobil has had another big quarter. Great! Another American company brings home the bacon. Their third quarter profit was announced yesterday...$10.49 billion. That's the second-largest quarterly profit ever....behind Exxon Mobil's 4th quarter total from last year. They are doing quite well. At least that money is not flowing back to the Middle East to some government oil company.
But of course, that's not how the media and the Democrats see it. You see, to them, the oil companies are ripping off the public. They fail to understand supply and demand. To them, the oil companies should "give back" some of their profits. Never mind that they do exactly that...give back the money to shareholders. But what the left fails to grasp is the market...simple supply and demand.
Why is Exxon Mobil so rich? Because they invested in oil exploration and because they refine and sell gasoline. They do this all at market prices. Exxon Mobil doesn't control the price of oil or gasoline, the market (and OPEC) does. But that's not what the media will tell you.
Remember: George W. Bush controls the price of gasoline. He lowered it a bit in time for the elections, but perhaps he needs to do it again.
By: Boortz