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Born at the Crest of the Empire

Monday, January 30, 2006

"The State of the Union is strong..."

OIL companies on both sides of the Atlantic will gush record profits this week, with America’s Exxon Mobil posting the world’s biggest-ever profit, and Shell setting a new record for British companies. ....

BP is expected to continue the trend on February 7 by revealing full-year profits estimated at $21.7 billion. This contrasts with earnings of $16.4 billion in 2004.


posted by mikevotes at 8:56 AM

4 Comments:

  • This infuriates me because I know so many people struggling to pay their heat bills and put gas in their cars. Would it hurt the oil companies to give targeted rebates to low income people?

    By Blogger Kathy, at 12:11 PM  

  • I would like to see them taxed for the us military costs to protect their assets.

    Really, do we have 325,000 troops throughout the mid east so we can sell cantelopes?

    They are enjoying the biggest of all US subsidies.

    Mike

    By Blogger mikevotes, at 2:08 PM  

  • Hey I'm rushing right out to put my 401K into Big Oil...right alongside Halliburton and Big Porn.

    By Anonymous Anonymous, at 3:25 PM  

  • Oil as the porn of the business world. Interesting.

    And, as for oil investing, it's always tricky. There will be lots of money in oil in the future, but as it becomes more valuable, it's harder to hold onto. Nationalization in Venezuela, possibly Bolivia. Indigineous peoples laying claim and sabotaging in Nigeria. Not to mention the politics of Russia or the middle east.

    Not a bad investment for the long haul, but as American power and influence ebbs, tricky.

    By Blogger mikevotes, at 6:21 PM  

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