The Inequality Files
Exxon records record profits. Of course, said profits are the just reward for the company’s ingenuity, independence and good business sense, not because of record oil prices, global crises and lavish subisides.
UPDATE: Reader Bengo, writes to add:
You might want to add to your recent post about Exxon's ludicrous profits that, when push came to shove, the House Dems, running on a pledge to roll back all $32 billion of Big Oil's tax cuts and subsidies over the next five years, settled on cutting only $5.5 billion, in no small part due to ex-Dem Reps. working as lobbyists for Big Oil.
The sordid story is here
Most telling line: “One of the lessons is that good lobbying is always bipartisan.” Ugh.
Ugh is right.