Whenever the MSM (Main Stream Media) and the politicians want to vilify someone or something they put the word "big" in front of the name and then will tell you how you are getting fleeced by them and that they are bad, evil people who must be stopped by, of course, more regulation and interference in the free market.
I want to examine two reports that came out recently and one that didn't, but should have. Several weeks ago I wrote about Shell Oil's profits and how, when compared to their revenue, did not exhibit any signs of gouging. There is now similar moaning and gnashing of teeth about Exxon Mobil's earnings report. This is all making big news because it hurts more than ever to fill up the tank. I feel it too, I hate it and I want it to end. It is really putting me and my family in a bad financial spot.
In the 2006 fiscal year Shell oil posted net-profits of $26.311 Billion U.S. In fiscal '07 they upped it to $31.331 Billion. Exxon Mobil's dollars grew from $39.5 billion in '06 to $40.6 billion in '07, or did they? When evaluating profits it is not only critical, but the sole accurate method, to view profits in a net (after costs are removed) form and as compared to total sales, and all in the same time frame. Shell Oil grew from 8.25% profit in '06 to a whopping 8.8% profit in '07, not bad, but not really living off of the backs of the consumers either. Exxon Mobil, on the other hand, shrunk from 10.45% in '06 to a measly 10.03% in '07! Again, while larger than Shell, not exactly gauging. These are important numbers, because it is the only method used by investors when deciding where to invest their money.
Let us now turn our attention to a behemoth of a company that made more (as a percentage of gross revenue) off of the backs of the people than both of the oil companies. While me and my family are forced to go to Big Lots and Aldi just to scrape by these evil capitalists made profits of over 10% last year! Much more than Big Oil. I want Congress to act to regulate BIG SOUP!!! Campbell's Soup made 10.855% profit off of the backs of the American consumers and I want something done about it!!
"The government of the United States is a definite government, confined to specified objects. It is not like the state governments, whose powers are more general. Charity is no part of the legislative duty of the government."
-- James Madison (speech in the House of Representatives, 10 January 1794)
-- James Madison (speech in the House of Representatives, 10 January 1794)
Sunday, February 24, 2008
Oil is evil, but soup is good food
Presented for your consideration by POAST at 11:34 AM
Labels: environment
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