I just get the feeling that people aren’t going to be too pleased to learn about this:
Two oil giants, BP and Royal Dutch Shell, announced record profits yesterday totaling $17 billion in the first three months of the year. Exxon Mobil is expected to smash its own previous records for quarterly corporate profits tomorrow. Average gasoline prices, meanwhile, have surged to a new high of $3.60 per gallon.
If you thought the war in Iraq would provide us with cheap gas, you were wrong. If you thought the war in Iraq would bring record corporate profits to the oil giants, you were right.
It’s a curious thing. Put a Texas Oil Man in the Oval Office and the same stuff keeps happening. But no matter how many times we try it, land wars in Asia are always a bad idea.