Wednesday, April 02, 2008

Exxon Explains

“Our earnings, although high in absolute terms, need to be viewed in the context of the scale and cyclical, long-term nature of our industry as well as the huge investment requirements,” said J.S. Simon, senior vice president of Exxon Mobil Corp., which made a record $40 billion last year.

“We depend on high earnings during the up cycle to sustain ... investment over the long-term, including the down cycles,” he continued.

How's this for a down cycle: The Era of Big Oil is ending, and why should we give you 18 Billion dollars for scouting out nonexistent new fields? It's time to invest in our post oil future, and jump start the solar/wind/H2O generator industry. You know, create some jobs here in the US, invest in LIFE instead of death.

“Why is Exxon Mobil resisting the renewable revolution,” asked [Rep] Markey, noting that the other four companies together have invested $3.5 billion in solar, wind and biodiesel projects

Why? Because Exxon Mobile is about the most evil corporation on the face of the earth, and it's executives are greedy and selfish. Simple. As. That.

Besides, it's an OIL company, fer crumb's sake, what did you expect - that they'd want to dump oil right in the middle of the biggest free for all of profit taking just before the wells run dry?

Congress Questions Big Oil's Big Profits


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