BIG OIL DEFENDS PROFITS

PROFITS

Even a Senate sub-committee has asked representatives of the five major oil companies to appear before them and explain their record 3rd profits while the country was paying over $3 a gallon for gas. Together, the five oil companies earned over $25 billion dollars in profit, even though oil was $70 a barrel.

The executives claim that their profits are in line with other industries, but what other industry has such wide affects on the nations economy?? Everything revolves around oil prices. Grocery stores are affected, food products have to be shipped in. The power companies are affected, some use natural gas to run the turbines, people have to get to work, it takes pumps to pump water from its source, through the treatment plants, then to the consumers; pumps need oil and gas to operate, there is very little in our lives that isn't touched in some way by the oil companies.

So, they claim they are in line with other industries as far a profit, but the country wouldn't entirely stop it their rates jumped up so quick.