April 30, 2005

Feeling the pinch at the pump? Bush oil buddies laughing all the way to the bank

Bush's buddies and prime backers are making suckers of us all. The Enron corporate model is alive and well.
Profits amaze even analysts
With oil prices, 'It's like they're printing money'
By MICHAEL LIEDTKE
Associated Press

SAN FRANCISCO - Pumped up by persistently high energy prices, the oil industry maintained its streak of massive — and growing — quarterly profits this week, aggravating motorists and amazing financial analysts.

"I have been following this industry for 18 years and I have never seen anything like this," Oppenheimer & Co. analyst Fadel Gheit said Friday. "It's like they're printing money."

The results of the world's four largest oil companies illustrate just how well the industry has fared lately.

Since the end of 2003, Royal Dutch-Shell Group of Companies, BP Group, Exxon Mobil and ChevronTexaco have earned a combined $97 billion, including $23.8 billion during the first three months of this year.

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3 Comments:

At 5/01/2005 8:12 AM, Blogger RepublicanJoe said...

Ed Tibbets (sp) writes a story today about the BRAC coming in two weeks, and barely a mention of our congressman, or even a spokesman. The largerst employer in RI County (maybe even in the 17th? or does the neighborhood in Decatur within the 17th encompass ADM?) and where is Lane Evans...? Thom Hart takes the lead-- and my thanks to him for doing it, but where is Lane Evans? Oh my heavens, when are we gonna get rid of lane evans.

 
At 5/01/2005 4:02 PM, Blogger Decatur Democrat said...

I can't recall off the top of my head, I think Lane has 38 or 36 of the 42 Decatur precints, and I believe his district encompasses ADM, Caterpillar, and Tate & Lyle/Staley's.

 
At 5/01/2005 8:48 PM, Blogger RepublicanJoe said...

Cat states 4,200 employess here in the 17th; the arsenal reports 6,000 , not sure on tate & lyle/staleys... someone smarter then me, please tell me...

 

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