The next thing, often before I even get my butt out of bed, is find the remote and turn on the viewscreen. Because Im never quite certain what kind of mess the King may have created before 7:30 AM Central, or what hes about to screw up before noon.
In a way, were lucky because once King George XLIII takes his lunch and cycle break hes usually done mucking up Planet Earth for the day.
Lately, though, his oil buddies have been trashing things all on their own.
Exxon/Mobils profit for the most recent quarter was a whopping $8.4 BILLION.
But the Wall Street money for nothing machine was unhappy because this fell $850 Million short of the $9.25 Billion profit it had predicted for Americas oil equivalent of Godzilla.
Now, who could possibly be unhappy about a corporation making a quarterly profit in excess of $8 Billion other than someone who does nothing with his or her life but count money.
One expert on CNN was trying to tell us not to blame Exxon/Mobil, or the other mega-billions profiteering oil companies, for the excessively high cost of gasoline. She claimed it was the fault of the suppliers, the OPEC nations, who set the price of crude.
We are supposed to feel sorry for the poor U.S. and British-based oil refiners, because they have to compete with new expanding markets in China and India and other emerging nations who now require far more oil than ever before. The OPEC guys just dont have the capacity to pump enough for everyones demands.
Besides, these are global enterprises, whose profit and loss figures include operations around the world. Americans arent paying the entire $8 Billion profit alone. Theyre only paying about $3 point 5 Billion of Exxon/Mobils profit.
Without huge profits the oil companies wont be able to invest in research and development of new, alternative fuels.
-- But isnt that the reason Government extends massive tax breaks to big oil?
Well, research is very expensive.
My answer to this gobbledy-gook is: So are the salaries and pension pay-outs to the greed-addicted corporate administrators, such as Lee Raymond, who made Exxon/Mobil the most profitable company in American history, then retired with a base package worth $400 Million.
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