The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Pumping up the profits

Jun 6, 2005

Seventy-four billion dollars – that's the profits made by only four oil companies in 2004: ExxonMobil, Royal Dutch/Shell, BP and ChevronTexaco. Every day of the year these four companies alone took in two hundred million dollars in profits.

For the first three months of 2005, these four companies made another 24 billion dollars in profit from selling gasoline and fuel oils.

A financial analyst was quoted in the Detroit News:"I have never seen anything like this. It's like they're printing money."Good news for the big insurance companies, banks and investment houses, which own big amounts of oil company stock – but bad news for those of us who work for our living.