Oil Companies Set Price-Gouging Record

Looking at the price of gasoline at the pump, we should have expected this. Four of the top five oil companies have released their profit figures for the second quarter of 2006, and the figures are outrageous. Here are the figures:

Exxon Mobil.....$10 billion.....36% increase over last year

Royal Dutch Shell.....$7.3 billion.....40% increase

BP.....7.3 billion.....30% increase

ConocoPhillips.....5.18 billion.....65% increase

Remember, these are profit totals. Expenses have already been deducted. And these figures are for only a three month time period. Just to bring the point home, lets break down these figures further. Listed below is the amount of pure profit each of these companies makes in a single minute:

Exxon Mobil..........$77,160 every minute of the day

Royal Dutch Shell..........$56,327 every minute

BP..........$56,327 every minute

ConocoPhillips..........$39,969 every minute

To say these figures are outrageous is an understatement. This is price-gouging. Is there anyone but oil company officials, that thinks these figures represent a fair and equitable profit? With these kind of enormous profits, why is gasoline costing us over $3 a gallon? There is only one answer. The oil companies know that with Georgie and the other oilmen running this country, they can get away with charging anything they want. Fairness doesn't enter the equation. These are old-fashioned, steal every penny you can capitalists.

We have got to get Republicans out of leadership positions, and replace them with people the caliber of David Van Os. The other states might still suffer, but if we elect Van Os and some of his buddies, things can still be set right in Texas. Van Os has already promised that going after big oil companies would be one of his first actions after he is elected. Don't be surprised if the oil companies pour enormous amouts of money into the campaign coffers of Abbott and his Republican friends. They can certainly afford it!