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Taking It Up The Gashole

5/28/01 - Wondering where your gas money goes? If you are an SUV owner, don't even bother, because you obviously don't care. Read on...

For the rest of y'all, take a quick perusal of first quarter net incomes from a few of the Gas Giants:
3 months ended
March 31, 2001
Total:
8.6 billion

Assuming a U.S population of 284 million, the profits in three months for these five represent about $30 for every resident. True, business consumption is not included in this statistic, but not every gas company's income is taken into account either (here's more), and children, who do not drive, are included in the 284 million figure.

Long story short, a good percentage of your extra expenditures for gasoline provide some mighty fine amenities in the form of bonus checks for the already-overpaid vice presidents of the oil industry. Another good percentage goes to the lawyers of these companies, because it is not easy defending evil. Two oil companies appear on this list, The Ten Worst Companies of 2000, joining the likes of Ford/Firestone.

Yes international readers, I hear you. The U.S. still has comparatively the lowest gas prices. That of course is an issue between you and your governments (we have enough problems with our own government).

The incoming chairman of the Senate investigative panel already plans to examine the issue, meanwhile Senator Rob Wyden digs up some ugliness in a series of internal oil industry memos.

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