DALLAS - Exxon Mobil Corp., the world's largest oil company, reported Thursday the fifth highest quarterly profit for any public company in history, posting gains from higher oil prices that were likely to stoke the furor over outsized oil company earnings.Keep in mind that those results do not take into account the latest spike. Over all, gas prices have doubled since Bush took office. Just wait until you see the 2nd quarter results for Exxon.
That's what you get for "electing" an oil executive president... and don't think for a second that anything the government does is going to change things.
Americans deserve this.. it's just unfortunate that it has to hurt a lot of people who knew that Bush was the wrong pick in the first place.
If you're thinking of buying real-estate, might want to get on the ball. These fuel prices put pressure on inflation, and the fed counters that by raising interest rates.
WASHINGTON - Federal Reserve Chairman Ben Bernanke told Congress Thursday that rising energy prices jeopardize a currently strong economy and left the door open to the possibility of another interest rate increase to keep inflation in check.
"To support continued healthy growth of the economy, vigilance in regard to inflation is essential," said Bernanke, who delivered his most extensive thoughts on the economy in several months.
No comments:
Post a Comment