Thursday, October 27, 2005

Exxon Mobil, Shell Post Record Profits

OK - you know that I am not some anti-corporation, anti-market neocommunists. However, the fact that oil companies are posting record profits - Exxon alone made $100 billion in the last quarter - while average Americans are stuggling to pay higher gas prices and the country as a whole is digging out of the hurricane season seems askew. I think the oil companies are morally obligated to reduce gas prices to aid the US economy. I don't think this ought to come from government pressure, but should come from the outrage of average consumers over the profit postings of these companies.

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