Big Oil had a RECORD breaking year.
Friday, January 30, 2009
HOUSTON - Exxon Mobil Corp. on Friday reported a profit of $45.2 billion for 2008, breaking its own record for a U.S. company, even as its fourth-quarter earnings fell 33 percent from a year ago.
The previous record for annual profit was $40.6 billion, which the world's largest publicly traded oil company set in 2007.
The difference between Clinton's Administration and Obama's is that when Clinton took office, Western oil companies had fallen into business oblivion and the nation was receiving all it's energy needs from foreign countries for a fair price. This happened to be the reason why the nation prospered under Clinton's term in office. Domestic oil companies were not the global threat that they are now, even as Western oil companies had tried domination in the 70's. We, Americans can’t have a recovery with big oil dominating the entire economy and thus, calling all the shots, because than, nobody else can make a profit except for oil companies.
Already, haven't we seen what happens when banks get into the same big oil like-minded act of price gouging with those adjustable rate mortgages that are exactly like adjustable rate oil prices, volatile and destructive in exactly the same way? It is time to stop talking about "our economic security" and start talking about liberation, liberation from big oil's economic servitude, that which is slavery by any other name. It is time to scheme in order to supplant our bloody dictator, big oil. Personally, I would like to see a vehicle that never, ever has to stop at another ExxonMobil gas station again, and really, shouldn't we all want one of those. We had Bush's ugly supply side, his and the GOP's cap less price gouging that, in the end, broke the banks, broke the nation, so now isn't it time for demand, the demand of new paradigms, an economy without big oil in the equation anywhere at all? Sure it is, sure it is.