The Daily Gripe #9 - Big Daddy Oilbucks

It's time for The Daily Gripe, from Average Joe American.

I originally planned to skip the gripe today. I'll be away at a birthday gathering, and didn't expect to have the time to post.

In March of this year, the oil industry reported the biggest profits for a single quarter ever. In fact, ExxonMobil at the time reported the greatest single-quarter profits of any company ever in history. Congress "investigated" while consumers complained, but three months later we're still paying three dollars a gallon for gasoline.

Fast-forward to July and the second quarter profits reports, and what do you think happened? ExxonMobil broke it's own record! I'm going to spell this number out for you, because it's just a little too large a number to really get the full impact when written numerically. Brace yourself. Are you ready?

Ten Billion, Three-Hundred-Sixty Million Dollars in profit was reported by ExxonMobil for the second three months of their fiscal year. Go ahead, catch your breath, I'll wait.

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Feel better now? That huge number translates to $79,000.00 in profit per minute! Can I get you a glass of water or something? Okay, I'll wait.

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There's one more number I have for you. First, I want you to think about your own paycheck. Think about how much you make a week, if you will, and how much of that pay you throw away at the gas pump. Now try this on for size: ExxonMobil's second quarter profits were a staggering $1,316.00 PER SECOND! Most Americans don't make that in a week, and many don't see that much money in an entire month! Need a few minutes again? Why don't you just bookmark this page and you can pick up where you left off later, because I don't expect you'll recover quickly from that one.

A Reader posted a comment to my first Daily Gripe entry on July 22nd defending the local gas station owner for raising his price a full twenty cents per gallon just in time for weekend driving and summer vacations. Frankly, I don't care how much profit the local pump jockey takes in. That's between him and Big Daddy Oilbucks. My only concern is how much of that $1316.00 per second is coming out of my wallet.

And to put it just a little more into perspective, we're talking about profit dollars here. That's free and clear money after the bills have been paid. How much of your paycheck do you have left after your bulls have been paid? The oil execs will no doubt cite reinvestment in research. How about a little reinvestment in the average consumer? I mean, $1316.00 PER SECOND?! D.B. Cooper didn't even get away with that much money!

That really gripes me! Now if you'll excuse me, I have to go fill up the car for work tomorrow. One thing is certain: I won't be filling up at an Exxon station.

Joe