3rd Quarter Profits
Exxon-Mobile
$9.92 Billion Up 75%
Shell
$9.03 Billion Up 68%
ConocoPhillips
$3.8 Billion Up 89%
Source: WISH-TV
I just have so much respect for companies that price gouge in the wake of natural disasters to increase profits. DISGUSTING!!!!!!! I wonder how much of those profits they donated to relief causes for those disasters that led to their profit taking?
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2 comments:
Thoughts on a windfall tax?
I'm not a fan of windfall taxes. I personally think they are too arbitrary.
I'd like to believe that the laws of economics would come back and bite these companies in the ass.
The big 3 have been struggling with their profits. Let's see, introduce a newly tuned engine that gets 70mpg (which we all know is possible) and consumers would jump. Increased new car sales would not only stimulate the big 3, but also the numerous auto parts suppliers here in the midwest. And suddenly demand is lowered for gasoline and Exxon, Shell and Conoco's profits drop.
But then again we all know who sits on the boards of every automaker in the world... that's right... the CEOs of these oil companies.
So maybe a windfall tax is a solution.
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