Tuesday, August 5, 2008

I got me some serious GAS!

Gas sucks. No, not that gas, that gas blows. I am talking about the dollar gouging kind. ExxonMobile just announced quarterly profits of 12 billion dollars. Not revenue, not for the year. No, in 3 months worth of time, they racked up 12 billion in free and clear cash. Life must be rough for them.
Now I know that they have little say in the price of oil. OPEC controls 60% of the market, and their output determines the price. But exxon could be doing something about the future of gas. They claim they are investing in future wells. But I never hear the specifics about it. If they are doing it, it sure doesn't get passed on to the consumer, and with that kind of money, you would think that their PR would make that happen.
I am a capitalist. And exxon is making money off the market. But how is that helping the people they are making the money off of? I believe in companies giving back, and more so in the form of innovation, and future products that make the world, the earth, and its people better. And to do that, while making money is the best kind of business. How about spending a months worth of that profit on a new source of fuel?

No comments: