Wednesday, August 06, 2008

Profits are Good!

Exxon Mobil recently announced, along with other oil companies, record profits and, naturally, the politicians immediately clamored for windfall taxes, etc., etc. Nothing like the bad oil man to deflect adverse criticism away from poorly performing politicians!

This article in the Houston Chronicle points out that while Exxon is making large profits it is also paying $10.5 billion a quarter in taxes. So, in reality, the politicians ought to be pleased!