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Monday, April 10, 2006
More on this Gas Price Thing
A month ago I wrote this post about the whole "gas prices being out of control" thing.

This month the 2006 Fortune 1000 was published. The Fortune 1: Exxon Mobil. In 2005 their profits rose by 42.6 percent.

There are 12 Petroleum Refining companies in the Fortune 1000. Each and every one of their Fortune 1000 ranks rose over last year's rankings. One of their profits rose by over 500%! I'm not making this stuff up!

So...in a year where gas prices for consumers are higher than EVER, while these petroleum companies are pointing the finger at the price of crude, they meanwhile had RECORD PROFITS.

I was going to do a bunch of research around this. Create an elaborate Excel table showing profit growth and Fortune 1000 ranking changes along with average increases per year. Maybe even comparing these ranking changes to the steady rise in the price of gas. I got started, and whole thing just made me angry. The situation wasn't helped when I found this transcript from NOW on PBS.

I know it's been proven that you don't necessarily save money by buying hybrid cars, but this kind of data makes me prefer to give my money to GM or Ford or Honda rather than Exxon Mobil.

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