The Great American Rip-Off

Millions of Americans now days are living from paycheck to paycheck. Many have had to give up health insurance, life insurance, had their homes foreclosed, lost their livelihood, gone into severe debt, or other tragic scenarios. Why? Because of the greed of our politicians, BIG OIL and their investors. Most Americans draw minimum wage or have to survive from tips in the service industry. When the price of fuel continues to climb, something has to be cut from their budgets.

Of course the fat cats in Washington D.C. don't have to worry about that, they're too busy embarking on their five-week vacations. Big oil cats and their investors are too busy to be bothered with such trivial matters as it may interfere with their golf game.

August 1, 2008 - Exxon/Mobil reported second quarter earnings of $11.68 BILLION, the largest profit from operations ever by any U.S. corporation. Revenue rose 40% to $138.1 billion - up from $98.4 billion in the year earlier quarter.

Europe's Royal Dutch Shell reported a 33% jump in second quarter earnings to a mere $11.6 billion.

Record quarters were also reported for Conoco Phillips, Chevron Corporation, BP PLC, and French company Total SA. These six major international oil companies topped over $50 billion in combined profit for the first time ever.

The American Petroleum Institute, the industry's trade association, claimed Big Oil earnings are not out of line compared with earnings in other industrial sectors!
WHAT??
Here's the kicker...Investors expected even bigger profits. Apparently, it doesn't matter if it just happens to bring the nation to it's knees in doing so.

We still have someone in the White House who claims that our country is not in a recession. Of course, being an oil man himself, I guess he can't see the forest for the trees. Recession? No. On the skirts of a Depression? Quite possible. Thanks Big Oil!