As Profits Soar, Oil Industry Unapologetic

[spindrifter]

By MICHAEL LIEDTKE and BRAD FOSS
The Associated Press
Friday, April 28, 2006

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The country's three largest petroleum companies _ Exxon Mobil Corp., Chevron Corp. and ConocoPhillips _ posted combined first-quarter income of almost $16 billion, an increase of 17 percent from the year before.

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Crude-oil futures are trading near $72 a barrel. U.S. gasoline prices are above $3 a gallon in many places, and even have climbed above $4 in southern California. Yet demand continues to rise.

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For their part, the oil companies have been emphasizing that they make far less money on each dollar of sales than many other industries that aren't being excoriated for their capitalism.

Taken together, Exxon, Chevron and ConocoPhillips made a profit of $8.19 on every $100 in sales. In contrast, Internet bellwethers Google Inc., Yahoo Inc. and eBay Inc. collectively turned a $19.20 profit on every $100 of their combined revenue.

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http://www.washingtonpost.com/wp-dyn/content/article/2006/04/28/AR2006042801425.html?nav=hcmodule

[NEOBuckeye]

1. You Oil execs had best enjoy it now

When the people take back our government, those earnings will be severely taxed to rebuild this country from the terrible mess you've made.

[bluestateguy]

4. I'm thinking more along the lines of endless Justice Dept. investigations

Tying these corpos up in knots. One investigation after another, as well as congressional hearings, subpeonas, hearings, depositions, etc.

[Erika]

2. CNN reported 90% of oil political donations were to the GOP

They don't have to apologize. They bought the president and vice president and they are all one. Screwing our country royally and supported by non-thinking bushbots.

[Another Bill C.]

3. Collectively, we're asking for a good reaming.

With 25 – 50 mile commutes and heating/cooling homes bigger than 2000 sq. ft., we're figuratively crying out to the oil companies, "screw me! screw me!" They're just doing what we ask.