Published Saturday, October 29, 2005 by Enigma America | E-mail this post
Because annual profits of $25 billion and quarterly profits of $9.9 billion is such an obvious gouging of consumer confidence we've now seen the formidable tactics of publishing excuses, and some might say lies.ExxonMobil.com
is now linking itself to articles which say "understanding gas prices
" on the front page and also understanding "industry profits
". (downloadable document) Lets decipher some of the spin in understanding gas prices.
"Gasoline prices are impacted by many factors, including changes in the price of crude oil and the supply and demand balance, global finished petroleum product trading, government regulations and taxes, transportation costs, and competitive market conditions. Actual or perceived changes in these fundamentals, such as those caused by geopolitical uncertainty, can have an impact on commodity markets."
"geopolitical uncertainty" is the great scapegoat of the unyielding greed of oil executives. This geopolitical uncertainty has been around since the beginning of the Israeli/Palestine issue in the Middle East. (1950's) Furthermore, the Katrina disaster disrupted nearly 20% of our oil supply yet we saw prices surge only a little bit. You'd think it would be astronomical with 20% supply being disrupted.
Geopolitical uncertainty just means they can adjust prices to whatever level they want so they feel secure. They're about as secure as a company can possibly be when profits are $25 billion, wouldn't you say?
In the next paragraphs the company blames the government for its prices, most the statements are complete myths. They blame the global marketplace, environmental standards, etcetera.
The Exxon Mobil excuse ends with this:
"This includes support for access to areas that will allow the U.S. to increase domestic crude production, and focused efforts to reduce the complexities and limitations that are creeping into our refinery and logistics systems due to the proliferation of specialty fuels."
Any company with $25 billion dollar profits can improve their logistics system & refineries with that type of money. They prefer the easy way of buying lobbyist & influencing Congress. In the media and elsewhere you'll start to see spin such as, "these profits are from investments made years ago".