Thursday, October 27, 2005

Record profit

The federal government wants to give oil companies free money to build new refineries. Cities and states offer tax incentives to attract and keep these petrochemical companies. We, the consumer, pay outrageous prices at the pump for fuel.

This is all done to help companies like ExxonMobil. It's hard to survive as a business today without getting federal aid when you only post a third-quarter profit of "almost 75 percent to $9.92 billion, the largest quarterly profit for a U.S. company ever, and it was the first to ring up more than $100 billion in quarterly sales."



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