Oil Company Profits Headed For Record Highs

  Oil company profits are expected to hit record highs in the first quarter of the year, topping their former best year of 2008.   Profits at Exxon Mobile, are expected to jump 50% with ConocoPhillips, up by 33%.

How are things going for you?

Our current state of affairs, including the three or four wars we’re in, while bad for the nation, appear to be very good for big oil.  Think about it the next time you go in to get fleeced at your local gas station.  Think about it again when you go to the polls in 2012.  Well, actually, by then it’ll be too late.  People need to start raising hell right now, letting their elected leaders know they’ll be out on their fannies if they don’t do something about big oil and the other major industries that are gouging our economic eyes out, while destroying the American middle and upper-middle class.

Our politicians have been bought off by big oil.  Their focus is on what’s best for the oil companies, not what’s best for the the vast majority of Americans, who don’t hold millions of dollars in stock with Exxon-Mobil, Chevron, Shell or ConocoPhillips.

It took a huge push by the public and a massive march on Washington, to get America’s leaders to abide by the will of the people to take action on civil rights.  It took another huge push, and several marches on D.C., to get the country out of Vietnam.

It may be time to start marching again.  Time to let our elected leaders know they’ll be gone in 2012, if they don’t refocus their priorities, putting not the oil companies, not the wars overseas, not the insurance and pharmaceutical industries, not big agribusiness, but the majority of the American people at the top of the list.

It’s what they’re supposed to be doing.  It’s their job.  Oh, and there are lots of people blowing smoke out there.  Lots of PR pros, hired by the big companies to convince us little people that we really aren’t smart enough to understand what’s going on.  Don’t buy into it.  We’re being hosed.

2 thoughts on “Oil Company Profits Headed For Record Highs”

  1. Hi Ron. Not sure if you have been following the political scene up here, but we are in the midst of a national election campaign, with the actual election next Monday May 2. For 5+ years we have had a minority Conservative government (very right wing), with elections in 2004, 2006 and 2008. Harper, the PM, is desperate for a majority and has pledged yet another tax cut for majors corporations, like banks and oil companies who are making record profits, as per comments in your blog, while completely ignoring democratic process. He also wants to buy 60 or so F35 jets, telling us they will only cost $75 million per, while your defence department syas they will be at least double that, once they are fully developed. And he wants to build mega prisons all over the country to support his “tough on crime” agenda. We hear that approach is now widely considered non effective in the US. Harper would be welcomed with open arms by the tea party, as one of their own. The Liberal party, which is pretty much middle of the road (fiscal stewards while progressive on social issues) and the New Democrats (prett left, but less so than your Democrates, together cannot seem to unseat Harper. Meanwhile, health care is getting almost no attention, and it needs to be improved in many areas, as the current model is not sustainable. Anyway, things are likely to heat up over the next week as E day nears.

    Tim P from Ontario

  2. Harper got his majority in Canada. Sinking feelings for sure – here is how I feel.

    Economically the liberals in Canada had a 15billion dollar surplus when the conservatives took over. Now Canada has a 55billion dollar deficit bc of tax breaks to the rich. Difference of 70 billion, throw in all the conservative social cuts and the difference is probably 80 billion or more. In the States 80 billion is probably chicken feed, but in Canada its the worst deficit ever. Has anyone told North Americans that we are in a world market now, that the trickle down effect does not work anymore?? It is not like it was in the 60s when you gave a tax break to a company and they used it to build another company in a town or state or province close by. Now they take that money and invest it in Asia, Middle East, or where ever they can.

    Also, Harper took credit for Canada’s recession. It was the socialist policies that were put in place before the Conservatives that saved us against the housing crisis. In the States the banks are barely regulated and monitored like Canada’s banks. Leave Harper in power long enough, with a majority, he’ll get rid of those laws monitoing our banks and we will be left vulnerable to a housing crisis like the Americans.

    His immigration policy will lead to a huge increase in illegal immigration in Canada. It has been estimated that 50% of illegal immigration is from Work Visas expiring and the immigrant not leaving, and Harper has multiplied the number of them. Canada tells the immirants to go back to their own country and work for $2.00 a day and so the immigrant finds any means nessessary to stay. Cheap work for corporations, great. The former liberal method was bring over one immigrant with his family and let him work the job for 30 years. Now it is being replaced with 10-15 guys on a 2-3yr rotation and we are suppose to believe they are going to go back to their own country. Not likely, they just get dumped on or system by companies who simply replace them. Just ask the Americans how well their work Visa programs worked out for them.

    He is also going to increase spending on finishing Gearge W. Bush’s wars. He does not just want to help out with the U.N. Harper wants to take over the war in Libya altogther. Buying airplanes that will be obsolete in a few years because he needs to bomb – now. Instead of investing that money in too troups buying them college degrees.

    What was Canada thinking???

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