In spite of falling production, The Wall Street Journal predicts tomorrow that oil companies will report record earnings for 2005. Lower production and costly drilling operations have been more than offset by an enormous rise in crude prices, leaving the industry's top 70 producers with a 26% net increase in earnings this year.
A 26% net increase. That's astonishing. How does that feel to those 33,500 individuals who are scheduled to lose their jobs? As the saying goes, the rich get richer, the poor get poorer. I wonder how many of the 33,500 individuals voted for Bush and endorse by proxy his domestic agenda? I also wonder how many of the corporate heads of the oil companies that raked in the 26% net increase in earnings voted for Kerry?
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