In the latest chapter of "Politicians must have something to say about everything," Hillary Clinton wants you to know that she doesn't like the fact that Exxon Mobil (NYSE: XOM) traded down after after reporting $11 billion in quarterly earnings.
Senator Clinton -- whom I would vote for by the way -- said that "There is something seriously wrong with our economy when Exxon's record $11 billion in quarterly profits are seen as a disappointment by Wall Street."
Then, in a twist that reminded me of watching a poorly coordinated fellow slam an ice cream cone into his forehead, Clinton added that this was further proof that the gas tax should be suspended.
Has Senator Clinton seen the number of SUVs on the road? And has she noticed that 60% of people are obese? I promise you they didn't get that way by walking everywhere to save money on gas. Given the state of the federal budget -- and the increasing concern about the impact of fossil fuels on the environment -- we shouldn't be doing anything to encourage increased use of fuel.
A separate issue that may of interest to investors: some analysts have suggested that Exxon is actually understating its profits -- and boosting capital investments -- in an effort to appease politicians. If that's the case, the stock may be cheaper than it appears at first glance.











Reader Comments (Page 1 of 1)
5-03-2008 @ 1:52PM
barneyrin said...
I suppose you think that Cohan, McIntyre, Kramer, Paradis and their ilk are more objective than the first female President-to-be, you glib asshole?
5-03-2008 @ 1:53PM
David said...
Everyone should be entitled to their opinion here and the personal attacks such as calling someone an A...Hole is beyond an intelligent response. This guy just responed first because he has no life and spends all day on the computer. I'll even bet he is logged into several sites like this just to give his negative valgure responses to try and get a response to get his jollies.
5-03-2008 @ 1:53PM
william lindblad said...
Zac: I agree that we should be doing something positive to reduce dependence on fossil fuel and also the "bulge". As far as the politico's opinions go you have to remember that they are not going say anything that angers the public, that is, if you expect to get elected.
As to comment #1 on this board - sounds like one from the general AOL commentary which is mostly Bush beaters, religious fringe and a bunch of others that post mostly inane statements that are rarely relative to the original story. Perhaps those that are doing the blogs should do as the BBC does which is put the comments in a buffer where they are reviewed prior to posting.
As to Exxon stock dropping after substainal profit? While I don't know what their statement said, but if it contained any future cautionary remarks you have your answer. Big oil has been slapped with excess profit taxes in the past and with the governement rebates going out Congress may find them a likely candidate to recoup some of the loot.
That would be an incentive to understate. In any case, if the price of fuel stays up the public is going to want a piece of big oil's tail feathers.
5-03-2008 @ 1:53PM
chk2595 said...
Madam Clinton like many of her followers thinks that government is the answer to every problem.
Indeed, they have helped to create the present problem. President Jimmy wanted to cut foreign aid to the Middle East. The Middle East said "Okay-we will band together and increase the price of oil" Thus OPEC was formed. Now they have many, many dollars and want more. We depend on them and they want buying power to go with the fallen dollar. Exploration in the US(New Mexico, Dakotas, NY & PA) and the coasts(East and West and Gulf) are held up by rules of every form of government. To think a politician has an answer that workks is folly. Cut governemt intravention and turn the drillers loose and pay less at the pump.
5-03-2008 @ 6:30PM
Bobby Dee said...
"President Jimmy wanted to cut foreign aid to the Middle East. The Middle East said "Okay-we will band together and increase the price of oil" Thus OPEC was formed."
Wow, what you don't know about history could fill a book or three. Maybe check wikipedia next time before making a fool of yourself...
5-04-2008 @ 6:56AM
al coholic said...
Wow! Too many mistakes not to correct.
If memory serves me correctly Jimmy Carter wanted to curtail aid to tin horn dictators and oppressive regimes that repressed freedom as we define it.
It's interesting to speculate what might have happened to our image in the world had we embraced his proposal. I'm sure it would have been a difficult path but maybe we wouldn't be saddled with the world villain image we now suffer had we followed it.
Sorry, I guess it was too early for good grammar.
5-04-2008 @ 11:57AM
al coholic said...
If memory serves me correctly Jimmy Carter wanted to curtail aid to tin horn dictators and oppressive regimes that represented the oposite ideals of freedom from what we believe in.
It's interesting to speculate what might have happened to our image in the world had we embraced his proposal. I'm sure it would have been a difficult path but maybe we wouldn't be quite the world villain image we now deem to suffer had we followed it.
5-04-2008 @ 1:51PM
jojo said...
chk2595 said...
Madam Clinton like many of her followers thinks that government is the answer to every problem.
Indeed, they have helped to create the present problem. President Jimmy wanted to cut foreign aid to the Middle East. The Middle East said "Okay-we will band together and increase the price of oil" Thus OPEC was formed.
****
Um....OPEC was created in 1960, LONG before Jimmy "the idiot" Carter was President...Obviously, you were born AFTER the oil embargo during the 1970's...but what excuse do you have to not know about something as important as this that took place less than 40 years ago. Sheesh!
5-04-2008 @ 8:19PM
Bob Fredericks said...
Hillary wants to cut out the federal tax on gas for the summer, but she alone has a plan to pay for it (tax on windfall oil profits). If that were done, don't you think ordinary people would then demand that state and local governments also drop the gas tax for the summer. In New York, that would reduce our price of gas by nearly twenty-five percent. Politicians would have to comply or be accused of having their own windfall profit from the rising prices in gasoline. Such reductions would be great for the ordinary driver. My gasoline bill last month totaled over $450. I will enjoy having a quarter of the back each month in the summer.
Annoyed driver!
5-05-2008 @ 3:57PM
Glenys Hanna said...
Why should the government penalize one of the biggest corporations that is successful in this country just because they make a profit. Where were our minds when all of this was going on back when Clinton was President...I believe we were too busy worrying about cigars!!! Make a profit Exxon-Mobile this is a free country