Oil company profits at all time high

I've written about it before. Something is wrong wrong wrong. What bothers me most is - even when the story is front page (as it is today here) - there's some political posturing by someone or other, e.g.: U.S. Senate Majority Leader Bill Frist on Tuesday called for hearings with oil companies on high energy costs amid calls for a windfall profits tax or other penalties on oil companies. But that's only what I'll call a "Prozacian sense of outrage." Or even grandstanding.

Earnings at Chevron's exploration and production business surged 43 percent to $3.32 billion, while the refining operations posted a more modest 17 percent rise in profit to $573 million.

Astounded? Try this: Exxon's quarterly revenue was a record for any publicly traded U.S. company: $100,000,000,000. Yes, a HUNDRED BILLION!!! And their profit was up 75% from last year.

We need someone to grab this story like a junk yard dog and not let go.

The self serving oil company quoted actually slapped its own back for doing a good job of managing the situation.