Thursday, February 08, 2007

Exxon (and Shell) post record profits

Demagogues, socialists, communists, and scummy politicians are criticizing the profits achieved by Exxon and other "big oil" companies. Congratulations oil companies. In spite of weather risks, capital risks, drilling risks, political risks, geography risks, and risks too numerous to mention, you have gained profits so that you can reward shareholders (wish I were one) who took a risk in buying your stock. You can re-invest in capital equipment, make needed repairs, and search for new sources of oil and methods of extracting oil.

Those politicians who will play on the ignorance or greed of voters, I ask; if you should now take the profits of "big oil" companies, would you also return money to the "big oil" companies when they have the inevitable troubled times as befalls any company? I thought not.

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