Oil profits: Up again (big surprise)

(From The Progress Report): The world has never looked better for the Big Five oil companies. This morning, Exxon Mobil, the world’s largest corporation, announced its “second-quarter profit rose 14 percent, to $11.68 billion, the highest-ever profit by an American company. Exxon broke its own record.” Joining Exxon Mobil as the only oil companies to “earn more than $10 billion in a single quarter, Royal Dutch Shell said its profit rose to $11.56 billion.” ConocoPhillips and BP last week reported their “massive second-quarter profits.”

Exxon broke it’s own record for highest-ever profit by a U.S. company. Up 14%!!!!

How can that happen? What happened to all the oil exec’s talk about “we’re victims in this as well?” What? You mean they weren’t simply “passing on their increased costs”? I think there’s a word for that. It’s called gouging. Criminal. Take your pick.