ExxonMobil, the largest publicly-traded oil company, has almost doubled their profits since 2004, reported abc.com.
They are currently raking in $9.9 billion this quarter in profit and Royal Dutch Shell isn't far behind with $9.03 billion profit.
For ExxonMobil this past quarter was the second most profitable in its history, according to the New York Times, and it still managed to be a disappointment for its investors.
Ridiculous? I'll say. We've all complained about the rising gas prices, but this evidence solidifies the fact that drivers in the U.S. are getting scammed.
The price of gas in Columbus has reached $3.79 per gallon. A meal at McDonald's costs less than that. What do you do with your $5, buy little more than a gallon of gas or eat?
It is sad to think that these corporations have this much power over what Americans do with their money.
Companies like ExxonMobil and BP use every excuse available to jack up the prices. For example, the price of crude oil went up after Hurricane Katrina, and go figure, so did the price of gas.
Shortly after announcing the profit made, BP also announced that they would be laying off up to 5,000 employees in order to make the company more efficient.
If the consumer is paying this much for a gallon of gas, and the company lays off the consumer, where is this money going?
These oil companies are gaining so much in profits that it's no wonder people can't make their house payments and the economy is poor.
Presidential candidates have been devising plans to counteract this evil. Senators Hillary Clinton and John McCain want to cut the Federal Gas Tax over the summer, while Senator Barack Obama disagrees, and says that it isn't enough.
As college students, it's sickening to think that what little money we have has to be put in our gas tank.
ExxonMobil, the largest publicly-traded oil company, has almost doubled their profits since 2004, reported abc.com. They are currently raking in $9.9 billion this quarter in profit. t&c;
JESSICA MILLER IS A FRESHMAN ORG. COMM. AND PUBLIC RELATIONS MAJOR AND STAFF WRITER FOR THE t&c.;
