Your Pain, Their Gain: How High Gas Prices Impoverish The Many While Enriching The Few

Can someone.  Anyone.  Justify why the Republicans- and some Democrats- still vote for Government subsidies for Gas and Oil companies?

Talk about Socialism….

They are redistributing the wealth from everyday Americans to the Oil Companies and their rich stockholders and management teams….

The next time you’re gritting your teeth as you fill your tank with $4 gas, here’s something to consider: Your pain is their gain.

The last of the Big Five oil companies announced first-quarter earnings Friday, so the totals are in. Between the five of them, ExxonMobil, BP, Shell, Chevron, and ConocoPhillips made $34 billion in profits in the first three months of 2011 — up 42 percent from a year ago.

That’s about $110 for every man, woman, and child in the United States — in just three months.

Exxon alone cleared a cool $10.7 billion profit from January through March, up 69 percent from 2010. That’s $82,175 a minute.

Why the staggering increase in earnings? Precisely because you’re paying $4 a gallon for gas.

via Your Pain, Their Gain: How High Gas Prices Impoverish The Many While Enriching The Few.

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Filed under Congress, Politics, The Economy

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