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Will gas prices go up or down? I’m going to drop some knowledge on you, then let you extrapolate an answer to the question. (Below the info are three links to sources, but I bet you can find more.)
Facts:
Businesses act exclusively on the interests of the owners, whether privately owned or publicly. (If the owners are a philanthropic sort this may seem not to be the case, but every company has only it’s shareholders in mind.)
Exxon-Mobile reported the highest profits of any company in US history during the second quarter of ‘08. They made $11.68 billion. Profit. In three months. This comes to about $1,485.55 per second.
This level of profit was smaller than was predicted for the second quarter of ‘08, and not meeting your predicted profit=FAIL in the world of stockholders, so the stock price dropped upon the announcement of the quarter’s profits.
To sum up: Exxon-Mobil’s record setting profit of almost $1500 per second – the highest profit in the history of the US – was not good enough to meet the expectations of the owners of the company, who began selling their shares in the company in response.
So Exxon-Mobil needs to make more profits. And other oil/gas companies need to do so as well if they are going to compete where it matters: on wall street.
So…
Are gas prices going to go down, go up, or stay where they are?
links:
http://www.nytimes.com/2008/02/01/business/01cnd-exxon.html?_r=1&oref=slogin
http://www.washingtontimes.com/news/2008/aug/01/exxon-mobil-profits-take-a-hit/
http://money.cnn.com/2008/07/31/news/companies/exxon_profits/index.htm
Reason 37 McCain will win in November:
the “Leftist Atheist Lesbian for McCain” blog
The link takes you to the “Understanding Obamabots” page where a poster educates the reader on the various behavioral stages of Obamabot-ness. Click on the other links in the menu at the top of the pages before going into the posts themselves. Fascinating.
You may have already known about this, but Google has been doing a little philanthropic literary work. I call your attention to the Google Book search and the fact that many, many out of print books are available as pdf files here. If it’s out of print and they have it, you can read the whole thing!
Don’t abuse this gift, of course, but how great is it that we can find wisdom that in an earlier age would have been lost, recorded for posterity in the virtual world.
At least, I think it’s cool.
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