Wednesday, June 2, 2004


    The latest Iraqi attempts to recover control of the country's oil revenues from the United States appear to have hit a dead end with a special delegation being rebuffed in its bid to secure UN help.
    Smirking Chimp

Yeah, so this whole thing. It was NEVER about the oil. No oil involved. Not a bit of it.

Oh, by the way, did we mention that American oil companies posted incredible profits?? Not just increased revenue (sales) but profit (the stuff they keep). Check my math here. If the ExxonMobil revenue in 2003 was $65.95 billion and profit was $21.51 billion that means that profit was 32.6% of revenue. Right? So - if they actually got everything you paid at the pump that would mean for every $1 you put in your tank they made 32.6 cents in profit. (There are other things in there, I'm sure, but let's keep this simple.) My recommendation is that you drive less and invest in more energy stock. Unless, of course, you prefer to use Cognizant Consumerism in which case you would neither invest in evil energy stock (like oil, etc) or use it. Anyone got any alternative energy stocks to sell me?

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