The Exxon Scam – Biggest Profits EVER!

Exxon makes biggest profits ever?? Thanks to the Democrats yes….
Ok the press is saying that Exxon made the highest profits ever for an American Corporation and did it on the backs of Americans. Well, that is just not the truth. Exxon was the benefactor of those greedy oil futures guys. Yes oil went to $140 a barrel for a while and then dropped to $70 a barrel last week. How did Exxon make money? Simple do you make a product and sell it for a loss? Exxon sold gasoline at market value. As prices for crude went up they raised prices to pay for new product. Can’t buy oil if you don’t have the money right? But Exxon is not the only Oil company so the idea that Exxon is screwing you is all wrong.
Yeah I am sure some of those nasty Gasoline Distribution companies were playing with the prices. Hell in Alaska this summer gasoline was $4.75 a GALLON and the darn refinery was 12 miles down the road. Gasoline 160 miles away was 20 cents less. Ah proof that Exxon was screwing Alaskan’s. Nope proof that the local Oil guys were and those are the guys Palin has been slowly kicking off the Oil board and indicting. No wonder she got into troopergate. The good old boy GOP Network up there hates her and wants her out of office at any cost. Did not matter that the Brother in law should have been fired, they found a scent and went after her… but that is off topic.
In that wonderful 20 minute Obamamercial the other night did any one notice that Mr. Obama said that we need to invest in alternative fuels? Did he tell you where the money was going to come from to do the research or to distribute the new fuels needed for Automobiles? Folks guess what.. The Oil industry is not stupid. They are doing research on new fuels because sooner or later they will be out of business just like the Buggy Whip companies of the 1800’s.
Where is the money for that research going to come from? PROFITS. The ones Mr. Obama wants to tax. So Exxon made Billions. Got any clue what it costs to drill a new Well off the coast of California?
Oil companies are making billions because they have no where to spend it. They can not drill off the coast so they end up buying oil instead and selling it for of all things a PROFIT.
They can not build new Refineries, so they make more money.. but with demand up, profits go up when you can not drill or build. Thus the oil price problem. Gasoline gets too high and the economy goes to shit cause the Democrats let Fanny Mae get out of hand and viola” you got a wonderful way to make EXXON look like the bad guy. (See my blog on the “Republicans caused the meltdown scam” on this blog for proof that Democrats caused the meltdown of the economy.
So if you want to know why Exxon had its biggest profits ever, look to the Democrats. They are the ones who stopped new drilling, and stopped new refineries, and kept the oil companies from spending any money to reduce profits.. which of course means they are paying more in taxes.
Raise the tax rate and profits go down, less drilling, less research, less manufacturing of gasoline and prices go back up.
Think about it.. do you really want Obama in the Presidents Seat?
Gomer Jones
AKA Jim Dicken

exxon breaks u.s. profit record, pays just 7.5% tax this is the headline at
http://flickeringpictures.com/2008/10/31/exxon-breaks-us-profit-record/#comment-5688
Problem is that if you read the fine print or even the whole story. Exxon paid $27.9 Billion in Taxes but profited $13 Billion. Now where I come from that is NOT a 7.5% tax. That is a 66% tax on profits .. or at least I thought all we charged taxes on was PROFIT.. is Obama going to penalize a company that paid 66% of its profits??????????
Apparently the guy who figured this out was not real math oriented.
Jim Dicken