“Feel bad for big oil?”
(Actually this is an AP story published by Fox. What a shock that the AP would write this story.)
HOUSTON — Feel bad for ExxonMobil.
The world’s largest publicly traded oil company Thursday reported that second-quarter profit fell 1 percent from a year ago — and net income only a paultry $10.26 billion, still good enough for the fourth largest quarterly profit ever for a publicly traded U.S. company.
The latest profit compared with earnings of $10.36 billion in the second quarter of 2006.
The petroleum giant blamed higher natural gas prices for the decline.
Actually, yeah, I do feel bad for big oil. Because big oil would probably love to take a hunk of that 10 billion and invest it in new fields, new refineries, and new technologies.
But the environmentalist movement won’t have any of that, because green doesn’t mean “GO” to Reds.
See also: http://www.forbes.com/feeds/ap/2007/07/25/ap3953134.html
BP wants to expand refinery capacity in Indiana. That would probably add a job or three, too.
The House Dems won’t let it happen.