The trifecta (on Big Oil yet again)
I just read something on the local TV web site that actually got me to leave a comment to it, reproduced below:
Please...I find most of this "analysis" pretty shallow. For one, higher oil prices would equate to higher revenue, NOT higher PROFITS unless Big Oil is doing a bit of light GOUGING. This is because it's a percentage game - big companies are rated not on dollar figures but on percentage increase figures, that is why profits are at all time highs - it's all about the percentages and stock price. This is the truth behind our economic system, not that competition keeps prices down.
Secondly, why does everyone always think the stock market is the answer to everything? Buying stock in big corporations that spend more money than the average American will see in a lifetime on lobbying congress to get favorable treatment is just not a good answer. And how much stock could the average American afford to buy? Not enough to offset their struggling week-to-week.
Please, don't insult us, we've done enough to ourselves as a nation by being unwilling to demand a government independent of corporate America.