Who says we don't live in historic times?


“Exxon Mobil and other oil giants continue to run up record profits to maintain the status quo even as Americans struggle to pay the high costs of heating their homes, fueling their cars, and meeting the mounting challenges of a growing economic crisis. And too many in Washington have stood in the way of the changes we need to chart a new energy strategy for our nation that breaks our dependence on foreign oil, reduces global warming pollution, and creates millions of new green collar jobs. I have proposed that we eliminate the tax breaks for big oil companies like Exxon Mobil and use that money to establish a Strategic Energy Fund to speed development of clean energy technology, put more efficient cars on the road, create new jobs, and provide immediate energy relief for the middle class as we head into what could be a difficult winter.  It’s time we stop borrowing billions from foreign governments like China to fund our addiction to foreign sources of oil.”

  1. Upstate's Finest says:

    Too bad my stock dropped, though. You’d think with these supposed record profits it would jump, but instead it did the opposite. But I guess once Sen. Obama goes through with that “windfall profits” tax he wants XOM will jump straight through the roof. Or maybe not.

  2. Who Watches The Watchers says:

    They also likely paid record TAXES.

  3. devtob says:

    No. 2 — Given the way that the oil industry has bribed Bushite politicians to ensure minimal taxation of their business, it is not at all likely that Exxon paid record taxes on its record profits.

  4. nighthawk says:

    As if raising taxes on oil companies could POSSIBLY REDUCE GAS PRICES. I’ve never, in my life, heard a more ridiculous arugment.

  5. Obscene. Flat out obscene.

    Gas and oil companies like Exxon Mobil do not pay their fair share of taxes. They do not pay proper land use fees for the drilling rights they have been given on U.S. Taxpayer-owned land.

    They receive free land rights and the benefits of US governance, protection, and military support in foreign lands to the tune of multiple billions. They buy politicians and front groups to scream “Drill here! Drill now!” when they are not currently drilling on land they have already been ceded for free from the government.

    All while raising prices and raking in record profits every quarter. Make no mistake. This is not a unique event. Look back at every single quarter. I repeat, every single quarter for the last 2 years or so and you will see Exxon Mobil report a record breaking profit for that quarter. Each quarter profit breaking the record of the previous quarters record breaking profit. Do not be surprised when they break this quarters record next quarter despite the gas prices we are paying this week at pump having gone down.

    Let’s take a real, fact based look at taxes. 2/3′s of corporation’s pay no taxes whatsoever…


    Read that again. 2/3′s of corporations pay no taxes whatsoever. None. Zero. zip. Nada. Zilch.

    Here is the GAO report (PDF). Read it for yourself.


    Couple this with the massive tax breaks for the richest 1% of Americans and a dribble to no tax relief for he average working American and you have and incredibly unfair and regressive environment that harms 99% of citizens in order to benefit the super-rich few.

    This is not how it is supposed to work. It is also not a system that works at all as evidenced by the failure of the so-called capitalist economic system in this country.

    A true capitalist system would not be structured for the benefit of the few at the very top of the system but would rather be strcutured in an open manner that benefits all of us.

    This is an obscene abuse. It would be criminal if it had not been made perfectly legal for the filthy richest 1% to rob the rest of this nation blind.

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