Friday, July 22, 2005

I'm Rich, Beeotch!!!

The oil industry has more money than it knows what to do with, apparently.

When major oil companies report their quarterly profits next week, they're once again expected to post record numbers. With crude trading around $60 a barrel, the oil industry is enjoying one of the biggest windfalls in its history.

I bet Bush could call any oil company executive and demand that he come to Washington and give him a back rub and the guy would be on a plane in like 30 seconds. He'd probably give Bush a "happy ending" too.
But as the industry looks for places to put that cash, it's finding it harder and harder to put funds to work finding new deposits of oil and natural gas.

Heaven forbid they should a) lower gas prices or b) reinvest that money into research and development for clean, alternative fuel that will keep their companies in business after they use up all the oil, oh, and also stop poisoning all of us. Or they could just give it all to whoever the Republicans run out there as their candidate in 2008...
Many publicly traded oil companies have been busy buying back their own stock, which helps drive up the price of the rest of the shares left on the open market.

Mo' money, mo' money, mo' money...
All of this industry good fortune has not escaped the notice of consumers, whose anger at higher gasoline prices has been rising in lock step with the price of crude. The energy bill recently enacted by both houses of Congress provides little relief for U.S. energy consumers.

It's almost as if there's SOME CONNECTION! Well, enjoy it while it lasts, boys. Because soon you'll either be forced to come up with alternative fuels, or you can hope that someone invents a car that runs on the piles of money you have lying around...

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