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Thursday, April 28, 2005

“Exxon Mobil Corp., the world's largest publicly traded oil company, said Thursday that first-quarter earnings soared 44 percent from last year, due mainly to strong crude and natural gas prices.” Source ABCNews

So I did a little Googling… So I find the United States Government Energy Information Site. They just happen to have a page that tells the story of the price of gas. The site says the average price of gas for the USA is 2.23.6 with a 42.4% increase over last year.

This tells me that the geniuses at Exxon Mobil didn’t really do much only a 1.6% rise in profitability. The other 42.4% was just sticking it to the consumer. Is any one in our government going to get some guts and do something? Sure the President asked for the Saudis to produce more oil. Is that so that we can lower prices or so we can create more profit for our Oil Companies? Don’t misunderstand me I am all for a free market to determined the price but come on… if we don’t do something about this I see more problems for the economic health of the USA. Recently released data says that the economy is faltering.

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