Thursday, October 27, 2005

DeLay and Exxon

ExxonMobil just posted record profits for the third quarter, some $9.92 billion, the largest quarterly profit of any corporation in U.S. history, according to the Associated Press.

DeLay owns at least $50,000 in ExxonMobil stock (pdf) and has taken $589,900 from oil and gas interests over his career. That's why he has passed legislative favors for them.

He's gotta be happy today.

How about you? Do you like paying close to $3 a gallon for gas just so ExxonMobil and its politician-stockholders can get record profits?

6 Comments:

  • While you're thinking about it, consider whether you like subsidizing such outstanding profits. Isn't it nice that they can make so much and have thier outstretched hand filled as well?

    By Anonymous Scout, at 8:08 PM  

  • My savings account just gave me an extra $1 this month. It too posted "Record Profits." If you aren't making record profits then you have a bad business that is failing. Oil is going up and oil companies and business is good of course. So is *that* surprising they are making more money? That is like being surprised Apple is making money off the Ipod hype. Its quite obvious.

    Now you would have a good point if oil companies were pushing prices higher to rip off consumers. Then you would have either racketerring charges or monopoly problems. The problem is that oil companies margins are really no different than when oil was at $15 a barrel. Nothing has changed. So oil companies are just doing business as usual.

    And to note, $50,000 in XOM is a pretty small investment if you are a senator and a millionaire like most senators are today.

    By Anonymous Anonymous, at 1:26 PM  

  • Oh yeah, unlike you Delay he knows what the law is.

    He doesn't write the fucking law for his cronies and conduits in other words. You deserve every bit of shit you get in jail, and you're going to get it, big time right alongside your little attorney friend and Scooter Libby plus Karl Rove.

    Enjoy your arrogance while it lasts, Delay. Its over for Hammer.

    By Anonymous Anonymous, at 5:28 PM  

  • I live in NYC, so the gas prices don't shock so much (unless you happen to rent a car for a weekend). But we could see it in the form of taxi surcharges. In any event, it's about time for a little windfall-profits tax. I actually saw one Exxon tool on MSNBC explaining that some of the profit was due to better management. Not.

    By Blogger Blogenfreude, at 11:18 AM  

  • I'd hardly say that oil companies are blame-free, given the fact that consolidation in the oil, gas and refining businesses have conspicuously coincided with the upward trend in prices, and there is plenty of evidence documenting that gas companies engage in price fixing.

    http://www.niemanwatchdog.org/index.cfm?fuseaction=Ask_this.view&askthisid=111

    By Anonymous Anonymous, at 10:23 PM  

  • Just after the attacks of September 11, Tom Delay had the nerve to insinuate that the firefighters and police were taking advantage of the terrorist attacks to increase their wages by threatening to conduct a strike.
    His statement was that "unions are a clear and present danger to the security of our troops at home and abroad"
    if you agree with that, then you should be able to see that the oil companies posting record profits on the back of the world after the natural disasters in the gulf coast are certainly doing their patriotic duty to capitalize on the misery of others.
    No Coment From Delay On The Patriotism of the oil companies.

    By Anonymous Anonymous, at 12:35 PM  

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