American Blog

Submitted by YOUR NEW REALITY

It’s like the time that a bunch of American tobacco industry bosses lined up to testify on how non-addictive cigarettes are.

I suppose when you’re making so much money can afford to eat gold and wipe your arse with Italian silk you really couldn’t care less what Congress, let alone the American people, think about what you’re doing to them.

They all probably went back to their offices after this braven bullshit session and had a money fight.

From AP :

Don’t blame us, oil industry chiefs told a skeptical Congress. Top executives of the country’s five biggest oil companies said Tuesday they know record fuel prices are hurting people, but they argued it’s not their fault and their huge profits are in line with other industries.
Appearing before a House committee, the executives were pressed to explain why they should continue to get billions of dollars in tax breaks when they made $123 billion last year and motorists are paying record gasoline prices at the pump.

“Our earnings, although high in absolute terms, need to be viewed in the context of the scale and cyclical, long-term nature of our industry as well as the huge investment requirements,” said J.S. Simon, senior vice president of Exxon Mobil Corp., which made a record $40 billion last year.

“We depend on high earnings during the up cycle to sustain … investment over the long term, including the down cycles,” he continued.

Down cycles?

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