Thursday, October 27, 2005

All About the Petro-Dollars, Baby

Oil companies are pulling down record profits these days.

BP's profit increased 34% this past quarter compared to a year ago.

Shell's increased 68%.

And in the piece de resistance, ExxonMobil clocked $10 billion in profit in just the last 90 days, an increase of 75% over last year.

Remember this as you pay your home heating bill, fill your car's gas tank, or buy a plane ticket this winter.


At 8:46 PM, Blogger TigerHawk said...

Of course, if one had purchased just a tiny bit of Exxon stock with one's summer job earnings back in 1985, and left the same on dividend reinvestment for the last twenty years, one would not be unhappy at all.

And if you missed the last twenty years, there is always the next twenty years. It never hurts to own oil stocks, because they usually go up when your own costs go up.

And, yes, I appreciate that this advice does nothing for poor people. But most people could save and invest more than they do.


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