If Exxon wasn’t getting huge breaks from our government at a time when banks are failing, the stock market’s in the tank and Americans face record unemployment, profit landmarks of this magnitude wouldn’t sting so much.
But with the nation suffering as it is, Exxon’s “noise machine” had better crank it up a notch to defuse the potential bad PR that such an announcement could create. If no one gets upset, shame on us.
When will government’s accommodation to what once would have been deemed “Robber Barons” warrant the outrage of a suffering citizenry? How swollen do profits have to become before we realize that given prevailing economic conditions, they’re simply obscene?
If you buy all that crap about how much they’re spending on R&D, let’s see line item comparisons between Exxon’s advertising and its R&D costs. If they mirror say, the pharmaceutical industry, there’s a direct inverse correlation. At least, that was the case last time I checked. If anyone has data on this, please forward it.
I’ll see what I can find out and get back to you. In any case, this smells as bad as their refineries.