Who Profits?

This morning the Associated Press reported that Exxon Mobil had reported a record profit for an American owned corporation. Last year their revenues were $377 billion. They profited from $78 a barrel oil and $3 a gallon gasoline and came away with $39.5 billion, yes that's billion. They and the rest of the oil and gas crowd did this without even a hint from Washington that maybe a windfall profit tax might be in order. In fact, the industry was actually being subsidised.

Oil and Gas prices have now fallen but somehow I feel sucker punched. They got away with this while many people are struggling to pay their winter heating bills now that it has actually gotten cold. I hope that some of the folks running for President will mention this fleecing of Americans at some point in the upcoming two year campaign for the White House.