28 / April
28 / April
Uncle Sam's Gasoline Racket

Why do Exxon-Mobil's $8.4 billion oil profits generate nationwide headlines, but the federal government's $24 billion oil profits generate no interest? It's hardly unusual for a company that sells gasoline to reap gasoline profits. But why should an entity not in the gasoline business benefit so richly from gasoline at a time when consumers suffer so greatly? Surely that story is more newsworthy than the pedestrian news item that giant oil companies make money on the product that they sell.

posted at 12:06 AM
Comments

"Clinton, somber and hesitant, denied under oath having sexual relations with Lewinsky." "The President defended his timing when asked by a White House reporter if the attack on Iraq on Thursday, December 17 1998 was an attempt to avoid the impeachment vote in Congress." Dan, Its the Jedi mind trick that the Govt is trying to pull over the publics eyes. "These arent the droids your looking for."

Posted by: James on April 28, 2006 10:17 AM

I agree. It is strange that the media fails to mention that the government is making three times what oil companies make. What upsets me is that Congress is considering a windfall profit tax on the oil companies. This would only decrease what the oil companies make and increase what the government makes. Further, I'm sure that this tax will ultimately be passed down to consumers.

Posted by: dillydally on April 29, 2006 11:51 PM
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