Anger over Oil Companies’ Record Profits as Gas Prices Surge
Apr 29th, 2008 | By Contrarian Profits | Category: Featured, Financial NewsAs gas prices near $4 a gallon across America, oil companies have announced record profits.
According to The Washington Post: “US oil major Exxon Mobil reported $8.4 billion in first-quarter profit yesterday, as members of Congress outraged over high gasoline prices hastened to propose measures that would boost taxes on oil firms, open new areas to drilling and provide rebates to taxpayers but would not necessarily alter prices at the pumps.”