u$ed oil

(originally posted November 2005)
American oil executives met today with senators to justify $32.8 billion profits from July-September quarter while consumers paid $3 a gallon. "We had to respond to the market," replied Chevron chairman David O'Reilly, according to AP.

1 Feb 06 - "America is addicted to oil," said Bush in his State of Confusion speech. Duh?...crude's now at $67.5 a barrel on the open market according to OPEC in Vienna..."

Exxon Mobil reports $36 million dollar profit. In one measure of Exxon Mobil's wealth and influence, its revenue of $371 billion surpassed the $245 billion gross domestic product of Indonesia, an OPEC member and the world's fourth most populous country, with 242 million people.

Last fall, the Republican-controlled Senate passed a bill to extend about $60 billion worth of tax cuts over the next five years. Bush has threatened to veto the tax bill if it includes the tax on oil companies.

"We are not mixing politics with the economic decisions on this issue. We are not mixing oil with politics." - Iranian oil minister at Vienna OPEC meeting.