I am not a financial expert but I have a blog and write for a living so that means I can basically sound off on anything that annoys me, will interest you or just makes me feel better to get out of my system. I had to share the following with you. I received two news alerts from MarketWatch. The first one said that Exxon Mobil profit jumps 44% (I recall last year’s profit growth being similar) and now the GDP is growing slower than at any time in the past 2-years.
What does this tell us – again, I am not a finance major – tech, I know, but macroeconomics I don’t -- It tells us we are being screwed by Exxon Mobil.
Am I too naive? Perhaps I am not a “big picture” person. The whole situation seems ridiculous. The economy of the world is linked to this precious commodity and in the last few years the price of oil has mirrored Al Jazerra’s ratings more than anything else. This is not a supply and demand economy anymore it has become “screw the consumer” instead.
Perhaps I am wrong.
I remember the world telling the
The Democrats have really lost their way as of late and the Republicans seem to really be invulnerable. If there is a weakness the Republicans have now, it is the price of oil. A Democrat that is strong on energy and can map out a way for us to reduce oil prices and find alternatives to petroleum should be a shoe-in for 2008. A politician from
The concern I have now is that the oil companies have so much money they will be lining the pockets of politicians on both sides of the aisle.
The only savior we can hope for is some hungry start-up in
Oil Kills US
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Last year's profit at Exxcon-Mobil was about $25 billion, on sales of $300 billion. The sheer size is a worry, but I don't think an 8 or 9% profit margin is the root of our problems.
"Up 44%" sounds really dramatic but always ask, "Up from what to what?". If they'd gone from 8% to 16% on the same amount of business, they would have double their profits and been "up 100%".
You're absolutely right that we need a different energy policy!