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NoSocialism.com · #31 (**permalink**) 05-02-2008, 04:50 AM

Quote:

Originally Posted by Garth

Exxon's Record Profits

Gas prices are at the highest that they have ever been, and Exxon Mobil just reported a $10.9 billion dollars in profits for the first quarter. The second largest quarterly profits by any American company - ever; beaten only by Exxon Mobil's last quarterly profit of over $11 billion.

I understand that much of the price we pay for oil goes to refining and drilling costs, but is $10.9 billion really necessary. You think they could limit their profits to only $5 billion and drop the price of gas a few cents? It just looks a little fishy to me.

I own Exxon Mobil Stock and if I found out that the directors did anything to make LESS money I could sue them, so YES they have a LEGAL obligation to make as much money as possible.

Reagan knew how to lower prices, and it was by lowering regulations and making it easier for EVERYONE ELSE to get into the business. Let me ask you a question. Why do you think that all these big Oil companies keep giving these candidates Millions of Dollars to get re-elected? It's because of the fact that they LOVE all the regulations. It keeps new guys from coming into the business and spoiling their free lunch.

Exxon-Mobile is doing what their supposed to be doing, delivering maximum return to their investors, but Congress isn't doing what it's supposed to be doing, which is to make sure that our free market works as intended. Instead they've stacked the deck in favor of Big Oil.