Side note: So anyone in the U.S. that doesn’t know this should: in general, you are better off getting your news from multiple sources outside the U.S. because we censor our news and we tend to doctor it up. No conspiracy theory there…all countries do it no matter how liberal your news source claims to be.
On that note, I’m sure there will be an article, headline or a blip (maybe a story) in the U.S. media about this -if there isn’t already. For now, here’s the BBC News: Exxon Mobil reaps record profits. [I just checked…there are a plethora of articles about it]
What’s wrong with this picture? Simple economics, the grounds used for the price hike, showed a shortage; thus increase in price. Now in defense of the oil companies, almost every major corporation is out to make a profit…so I understand that. However, why is the Red Cross claiming they can’t get gas right now? Why am I paying $40 [US] to fill a tank that cost $20 [US] not long ago? You don’t hike prices during a shortage to increase profits, you do it to maintain profit or minimize loss. Increasing prices drastically and posting record profits screams price gouging and a load of bulls**t
I know people who are having trouble paying for the gas they need just to get to their job! Exxon Mobile: you make me f**king sick. 60% Profit increase over last year….60%?!