From Where I Sit
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February 4, 2011
Well here we are fresh into a new year and watching events unfold around us once again and it appears that every time something goes boom anywhere in the world, it seems it affects the price of oil .... here, end result of course being it continues to take more and more money out of our wallets, everytime we have to fill up.
As I see it we are paying for everyone else's problems, political or otherwise because it seems no matter what happens ..... the price of gas goes up.
What really annoys me is just as events begin to escalate out of control in Egypt and joins the rest of the chaos in the world that is contributing to high gasoline prices .... comes news of Exxon Mobil's fourth Quarter. But remember, its not just Exxon it could be any majour oil company we're talking about here.
The news release goes like this:
Exxon says net income grew 53 percent in the fourth quarter as oil prices rose and the company increased production.
The largest publicly traded oil company in the world, reported earnings of 9.25 Billion, their highest earning since its record profit of 14.8 billion in the third quarter of 2008.
It goes on from there with a bunch more numbers and ends, "for the full year Exxon said it earned 30.5 billion compared to 19.3 billion in 2009. Annual revenue increased 32 percent to 383 billion."
At the time of preparing this comment, regular gas in this general area was selling at about $l.13 per litre for regular.
I don't like paying that much for gas, none of us do but we do it because we have few .... if any options. Bad enough they charge a different price practically hourly, but then to tell us .... quarter after quarter ..... they are making these huge record profits.
I don't know about you, but from where I sit, I feel like I'm being abused by the oil companies and am powerless to do anything about it, except pay .... tell me again why we pay taxes to a government that is supposed to protect our interests.
I'm Dan McLean.
From Where I Sit is on 560 CFOS Mondays, Wednesdays and Fridays 7:08 am and 5:08 pmPosted: 2011-02-15 16:14:06
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