Stop Oil Company Price Gouging

[dweller]

by Congressman Bernie Sanders

Record-breaking fuel costs across the country are forcing millions of Americans to wonder how they will have enough money to heat
their homes this winter or fill up their gas tanks to get to work in the morning. The Bush Administration is quick to claim that they
are working to lower skyrocketing fuel prices but staggering profits by Big Oil have long made it clear that these price increases are
the direct result of oil company greed, market manipulation, and an Administration content to let Big Oil pillage consumers at the
pump.

The recent announcement that Exxon Mobil has earned the largest quarterly profit in the history of our nation makes it clear just
how this bad oil company price gouging has become. Reports show that Exxon Mobil brought in a 3rd quarter profit of nearly $10
billion. This is the largest corporate quarterly profit ever, and more than $4 billion dollars more than the company brought in during
the 3rd quarter of last year.

To put this in perspective, this means that Exxon Mobil hauled in more profits in three months than corporate behemoths Coca-Cola
Co., Intel Corp. and Time Warner Inc. earn in an entire year.

And Exxon Mobil is not alone. ConocoPhillips Co. 3rd quarter profits increased by 89% from last year's level. Royal Dutch Shell's
profits increased by 68%; and Marathon Oil's profits more than tripled. In fact, all of the major oil companies experienced
record-breaking profits, bringing in an estimated $28 billion more in profits this year as compared to 2004.

http://www.commondreams.org/views05/1029-31.htm

dp

[ChairmanAgnostic]

1. I respectfully disagree

as painful as gas and oil prices are, pure economics must be considered. That is, if we wish to become energy independent, if we wish to stop getting involved in the sandstorms and desert wars of the middle east, and if we wish to make our own future ours, not some major oil company's then, the best thing that can happen is to have these huge profits at times of need for the country. Unless the cost remains high, we are not changing our ways or our technology. And that is truly short-sighted and dangerous.

There will be a countermove- a widespread, strong, and organized effort to push our pols into making the right choices, ones that do not provide massive tax breaks for oil, after secret meetings with a snake, and result in unbelievable profits.

[baltlib]

2. yup 10 billion is a lot of profit for 3 months

but the crazy part is it is only 10 % of there revenue, most of corp america makes 30 % profit. if we bought 10 % less gas they would make 1 % less profit :crazy: . if you want to see some crazy profits look at yahoo, microsoft and a few more. they make more per employee than any oil company.

gas prices are coming down... why maybe due to the temp drop in emmision standards or becuase they are under the spot light