Gas Greed
Every day the gas prices fluctuate. On occasion the price drops but the usual trend is upwards. For the oil companies, this means huge record profits:
“…Trouncing analysts’ expectations Tuesday, BP and Royal Dutch Shell, Europe’s largest oil companies, delivered record profits for the first quarter of 2008. Anglo-Dutch firm Shell netted $7.78 billion in the first three months of this year, up 12% over the same period in 2007. Profits at rival BP, meanwhile, swelled by almost half to $6.59 billion. Shares in each firm climbed almost 5% on the news.”
link: BP and Shell Downplay Record Profits
The record prices - and the record profits - are hurting the economy. There will be a backlash. Consumers know why there are record profits. They see it with every trip to the gas pump. Truckers are approaching a thousand dollars ($1,000.00) to fill up. There will be a price to pay for the greed.
Catherine Forsythe
Tags: costs, fuel, greed, profits, records
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