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Thursday, July 27, 2006

I guess the oil companies need another tax cut -- at the expense of your retirement, your kids' schools, your health care.....
Posted by Jill | 4:41 PM
Where your $3.00/gallon is going:

Exxon/Mobil: $10.4 billion in profits for the second quarter -- up 36% from the previous quarter.

Royal Dutch Shell: $7.32 billion in profits for the second quarter -- up 40% from the previous quarter.

Conoco/Phillips: More than $5 billion in profits for the second quarter -- up 65% from the previous quarter:

Revenue rose only 12.6 percent, to $47.1 billion, highlighting how staggeringly high profit margins for oil, gasoline and other fuels accounted for the bulk of ConocoPhillips' second-quarter bonanza.

Sounds like an industry that's going to get another tax cut.

When George W. Bush starts talking again about how Social Security needs to be privatize, think about how well his buddies in the energy industry are doing as the increased price of energy starts filtering down to every part of the economy -- including your job.
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