Wednesday, November 16, 2005

More oil

The price of gas is down for the 5th straight week. President Bush has called an emergency cabinet meeting to find out what the hell went wrong.-Jay Leno

When these oil company executives walked into the Capitol building, all these senators and congressmen were scared and nervous. It's always a little nerve-wracking when the real owners of the place show up.-Jay Leno

The Washington Post:

A White House document shows that executives from big oil companies met with Vice President Cheney's energy task force in 2001 --something long suspected by environmentalists but denied as recently as last week by industry officials testifying before Congress.

In a joint hearing last week of the Senate Energy and Commerce committees, the chief executives of Exxon Mobil Corp., Chevron Corp. and ConocoPhillips said their firms did not participate in the 2001 task force. The president of Shell Oil said his company did not participate "to my knowledge," and the chief of BP America Inc. said he did not know.

Oil companies posted unthinkable profits in the 3rd and 4th quarters of 2005. The largest, ExxonMobil, saw a 75 percent increase in profit from the same time last year, earning a staggering $9.92 billion during the 3rd quarter, the single largest quarterly haul in history. Shell was right behind them, with $9.03 billion (up 68 percent), ConocoPhillips reported an 89 percent increase with $3.8 billion, and BP reported $4.87 billion (up 34 percent).


LVDem said...

I have refused to turn the heat on in my apartment (man is it cold) as a sign of protest. Oil companies and the GOP have run the comfort of my home for too long and i'm not going to stand for it. I have extra blankets and sweaters ready to go.

How many other people are willing to keep their temp at 58 degrees this summer, not only to save some money, but to also cut down on the money going to the oil companies and the GOP.

Carl said...

8.4% net profit is a WINDFALL PROFIT for the oil companies!

Anonymous said...

Carl, wrong. Nice try though.

As Alex pointed out and as I read on Dr. Ricks web site, the estimated PROFIT per gallon was circa 10cents. The governments profit per gallon: 4x that.

Don't just blame the execs.

Uncle Sam was lining his pockets to.