Who's Greedier: Big Oil or The Mega-Drug Companies?

ExxonMobil profits were up 75 percent in the third quarter. That is nearly $10 billion. I have not studied this at all, but if you ask me, this just doesn't add up. The price of gas shot up beyond $3 per gallon and the oil companies -- not the people who are selling oil to the oil companies -- have record profits.

Two other numbers that greatly disturb me:

  • Revenues have hit the stratosphere at $100 billion, a number greater than the gross domestic product (GDP) of all but 38 of the world's economies.
  • The oil industry is on a pace to earn profits approaching $100 billion too, more than this country's industrial and telecom companies combined.

Makes you wonder what would've happened if Hurricanes Rita and Katrina wouldn't have caused nearly so much trouble along the Gulf Coast where much of this country's oil refining is done...

Sounds a bit like the shell game the mega-drugmakers use to justify "inventing" new drugs to take the place of older ones or to treat imaginary conditions.

By the way, we are getting very close to offering the capacity to allow you to post comments on this blog. I hope to have it up by the end of the year. I am sure some of you know the answer to this question, and I would really love to understand this dilemma.

USA Today October 28, 2005

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