The Robber Barrons Are Back

Let’s put two oil men in the White House for eight years and see what happens.

From Exxon posts new profit record by Steve Hargreaves:

Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.

That profit works out to $1,485.55 a second.

The company returned $10.1 billion to shareholders in the form of dividends and stock buybacks, 12% more than last year.

The big international oil companies have been criticized for plowing much of their profits back into stock buybacks and other programs to benefit shareholders, as opposed to exploring for more oil which could bring down the price of crude for everyone.

Critics charge the oil companies with deliberately restricting production in an attempt to keep prices high.

Matt Lauer Is No Mike Wallace

What we have here is one rich guy asking another rich guy questions about the high price of gasoline. Both of these rich guys can afford to fill their gas tanks and then some. Notice how nice Matt Lauer is to one of the guys that is robbing Americans blind. Notice how every answer is a non-answer. Actually Mr. Lauer asks some pretty good questions. However there is no followup to all the non-answers. Pretty wimpy stuff Mr. Lauer.

We desperately need reporters and interviewers who aren’t making millions of dollars a year. Someone who is lean and hungry for a story. Not fat cats like Matt Lauer who are part of the club of the rich elite. We need someone who is mad as hell asking these questions. We need a pit bull, not a lapdog.


If you don't see the video try this: Exxon chief discusses gas prices.