As Profits Soar, Oil Industry Unapologetic
The Associated Press reports here at the WP website: The oil industry’s massive first-quarter profits this week triggered another round of election-year outrage from President Bush and members of Congress, who spoke up on behalf of angry constituents feeling pinched at the pump.
There’s little that either lawmakers or the industry can do in the short-term about the high oil prices that yielded those profits, however, as long as energy markets stay tense and the global economy is expanding. Instead, it would take a decision by consumers and businesses to consume less fuel, a choice they have yet to make, analysts said.
as usual, the press never gives you enough information to make an informative decision.
All they said was they received more revenue.
The price of oil pumped was bid up on the futures market. Where do those bidded up dollars go? You guessed it!
Unless there’s more to it that the press chooses not to inform us about… I don’t have the time to read thier B.S. Maybe when the tell
“the rest of the story”!
ciaoTebaldi
Comment by dick — April 29, 2006 @ 11:54 am