President Bush is expected to trumpet his "long-term" energy "solutions" at a press conference tonight. He is talking about nuclear power, and he's talking about drilling, and he's talking about every other cockamamie idea except the one that could make a difference to middle class people - cracking down on oil companies who are literally price gouging the American people:
- USA Today reports "Exxon Mobil said Thursday that first-quarter earnings soared 44% from last year, due mainly to strong crude and natural gas prices...The company's net income surged to $7.86 billion."
- Reuters reports "Royal Dutch/Shell comfortably beat analysts' forecasts to report a 28 percent rise in first-quarter profits, helped by surging oil prices and strong refining margins...The company's earnings rose to $5.548 billion."
- The Houston Chronicle reports "ConocoPhillips, the nation's third-largest oil and gas company, said today that first-quarter earnings soared year-over-year on high oil prices, though they were partially offset by unplanned downtime in the company's exploration and production unit. The company's net income jumped to $2.91 billion."
http://www.davidsirota.com/2005/04/bush-desperate-to-downplay-energy-rip.html