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The Forum > General Discussion > Big Oil posts profit of US $4.5 million per hour

Big Oil posts profit of US $4.5 million per hour

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I read this article at WSWS.org and was staggered by the sheer size of the profiteering by the big oil companies. Much of this profiteering has come via various schemes designed to talk up the ante. Such as creating a market by sowing some slight uncertainty about regular supplies in light of the war in Iraq and the war that is soon to unfold in Iran. The oil cartels and the war speculators in one form or another have created excitability and volatility particularly in crude oil dealings and prices. Petrol prices were kept high at the bowser even when there had been sharp falls in the price of crude. This was where some of the larger profits were extorted. Profits of US$39.5 billion for 2006 were made by ExxonMobil.
A strategy the oil cartels use in conjunction with the government is to raise petrol prices as a devious means of cutting wages. As all foods and goods have transportation costs and therefor use petrol they will be dearer and the spending power of wages will be diminished. This strategy realy starts to kick in when there have been many petrol price hikes and no genuine wage rises for many years. Fifty percent of the world now exist on $2 a day. The governments say why shouldn't that exist for workers in Australia?
Posted by johncee1945, Saturday, 3 February 2007 6:27:10 PM
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Can you see it? the reason they get away with this theft?APATHY!
A vital impact on our country fuel price robbery and no one has posted a reply?
In every thing we do Australians need fuel, price rises then the huge drop? all without reason.
If we are not being muged what is happening to us?
IF the goverment cared about this theft they could take ALL TAX OF LPG .
If states cared they could charge no rego on LPG motorists.
What price oil then?
Its not about oil costs its western goverment supported robbery.
Posted by Belly, Sunday, 11 February 2007 7:57:25 AM
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Belly, I really don't believe nobody posted due to the effects of apathy. I suggest the reason no one posted is because there's probably not a soul on the face of the planet they believes anything can be done about the stranglehold of big business over Governments. It's the Haliburtons, IMF, Exonmobile etc, that really run the financial empires and they tell our "elected" Governments what they can and cannot do. John Howard might be a "mean and tricky" man, but I'm sure that underneath it all, he also realises that his Government policy has done much for big business and nothing for the average person on the street and probably feels some remote sympathy for the downtrodden, but whilst a handfull of big businesses with unbridaled spending power control the World economy, he knows full well that he can't do anything to make it right with those who have little. Any attempt to do so will result in his immediate downfall as big business cut him off at the knees, which is exactly why "TAPP" will never get anywhere in Australian politics. TAPP (The Australian People's Party) is basically a decent bunch of people with high morals and a desire to equalise the wealth distribution and it would go against the grain should they be challenged by big business to curb their anti business sentiment. The only thing that can release the grip of the Haliburtons et al, is a major World wide calamity such as a form of Global warming that's perfectly obvious to everybody. Then, big business will be seen for the destructive force they really are and might suffer their just reward when the suffering tide of humanity turns against them, but I won't hold me breath waiting for the day.
Posted by Aime, Monday, 19 February 2007 9:25:17 AM
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