Oil Companies Pimp Consumers and Post Record Quarterly Profits
Matt | On 27, Apr 2012
American consumers are catching hell at gas pumps across the nation.
Despite gas prices going down over the past few weeks, they are still extraordinarily high. As of Friday, the national average for gas was $3.82/gallon for regular grade.
While you bust open your piggy bank to keep your Buick running, oil companies have run off into the night with sickening profits. Remember, we have these high prices because of “market uncertainty.” Yeah right! The only thing uncertain is how many BILLIONS each of these companies will continue to rake in each quarter.
Here is the breakdown of Q1 2012 profits from the Big Five oil companies, including ConocoPhillips that is sometimes included in the group:
- BP – Earnings not yet available.
- Chevron — $6.47 BILLION — Up 4 percent.
- ConocoPhillips — $2.94 BILLION — Down 3 percent.
- Exxon — $9.45 BILLION — Down 11 percent.
- Shell — $7.28 BILLION — Up 8 percent.
- Total S.A. —$4.04 BILLION — Relatively no change.
I want you to look at these figures, then the gas gauge in your car, and see if it doesn’t piss you off!
ANSWER IN THE COMMENTS SECTION BELOW:
Do the quarterly profits of the oil companies anger you in comparison to today’s gas prices?