Did the oil companies really need $123 BILLION in profit last year???
Ponder the fact that Exxon alone profited over $40 BILLION DOLLARS in 2007, and that fact that foreclosures here in California alone, rose 375% from one (very, very) bad year ago. I believe it is all related.
A day hasn't passed recently that I haven't heard of another family losing their home. Neighborhoods, formerly manicured and safe, are decaying rapidly and expansively, while those corporations who pushed for this Middle East debacle, profit without limits. (Thanks to my precious Gail for the piggy picture ... if anyone can find the artist, I'd love to acknowledge how much this photo touched me.)
And thanks to all of you have been contributing to our work. Your generous donations, small and large, allow us to keep our message on the internet. We appreciate it more than you know.
References: Exxon also set an annual profit record by earning
$40.61 billion last year - or nearly $1,300 per second in 2007. That exceeded its previous record of $39.5 billion in 2006. Click
here for article in CNN Money.
"Last year these companies alone {Exxon Mobil (
XOM,
Fortune 500), Royal Dutch Shell (
RDSA), BP (
BP), Chevron (
CVX,
Fortune 500), and ConocoPhillips (
COP,
Fortune 500)} made over
$123 billion in profit," said Markey. "What is the oil industry doing with all this profit? Unfortunately, it goes as much to financial engineering as to renewable engineering." Click
here for article in CNN Money.
