Friday, April 27, 2007

Exxon-Mobile profits, GAS PRICES UP - DESPITE LOWER PRICES for crude oil & natural gas!

Here is the "majory corporate media" in all of its glory: We American consumers are led to believe that the reason gas prices at the pumps ARE RISING every year at this time - the late spring and early summer months - is because of higher crude oil and natural gas prices. Needless to say, the "major media" is happy to trumpet "HIGHER PROFITS!" but gives NO journalistic inquiry as to why gas prices are up and over $3.00 per gallon when crude oil prices are lower.
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Exxon Mobil 1Q profit up 10 percent
By John Porretto, AP Business Writer
http://news.yahoo.com/s/ap/20070427/ap_on_bi_ge/earns_oil;_ylt=Aq6rCfPz9uUc4lsjtagbYlPMWM0F

NEW YORK - Oil giant Exxon Mobil Corp. kicked off 2007 with a 10 percent rise in profits, its best-ever first quarter, as higher margins on refining and chemical operations offset lower prices for crude oil and natural gas.

Exxon Mobil, the world's largest publicly traded oil company, said Thursday it earned $9.3 billion in the January-March period, beating Wall Street expectations, even as revenue slipped and fell well short of analysts' forecasts.

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