Exxon Rakes in Record $10 Billion Quarterly Earnings While Cheering OPEC

…The Exxon earnings are not only obscene they are an outrage in that these are not profits that are earned in a competitive marketplace but simply by tailgating OPEC’s manipulation. Exxon barely lifted a finger to earn its additional billions other than go along with prices that were the result of collusion by a cartel, and hardly a reflection of a free and unfettered international marketplace. The oil industry apologists are already lining up. To quote one of the spokesmen for the chief peak oil prankster, and cheerleader for ever higher oil prices, Matt Simmons, “A lot of these larger companies are challenged to grow production. That’s one of the reasons that oil prices aren’t necessarily expensive at $90 a barrel…” Much like Willy Sutton saying he has to hold up another bank because he needs a new getaway car.



At least one candidate was moved to opine on Exxon’s earnings. Barack Obama said Exxon’s profits were a sign that the U.S. economy is “out of balance”. With that observation he will have in all probability kissed the moneyed oil lobbying kitty goodbye.

With distortions such as these lifted from the pocketbooks of all Americans where are the tough questions and answers asked of the candidates as to how we as a nation are truly going to come to grips with this issue before we transfer all our wealth to the oil companies and our good friends in Saudi Arabia.

Huffington Post