Monday, March 06, 2006
THE FIRST ANNUAL COALITION DOUBLESPEAK AWARD
The team members at the Coalition for a Republican-Free America are pleased and proud to present the first annual Coalition Orwellian Doublespeak ward to the oil industry for its deliberate use of self-contradicting doublespeak.
For sheer chutzpah and outright prevarication, the oil industry can't be beat
In 2005 Exxon-Mobile set an all time record in the history of American corporations as it turned a profit of $36.1 billion (up 30 percent from the previous year), while second place Chevron chimed in at a mere $14.1 billion.
AS a result of its ongoing attempt to distract and deceive the American people the oil companies have inadvertently told us that we can make more money by investing in other industries.
In an attempt to explain away their ill gotten gains, the oil industry is figuring profit as a percentage of the company's overall sales figure, not as a lump sum. In other words, they are claiming that the oil industry is less profitable than the real estate and banking industries.
But that's what they're telling the American people. It is not what they are telling Corporate America on Wall Street. When the oil industry talks to Wall Street, it argues from a different point of view. In its annual report, Exxon-Mobile claimed that its return on average capitol employed is the relevant metric for measuring performance in a capitol intense industry such as petroleum."
BUT in 2005 Exxon-Mobile earned a 30 percent profit income relative to the average capitol employment: and that was for global operations. When you measure the profit margin for American profits as a share of capitol investments, the rate rises to 46 percent. Moreover, Exxon-Mobile earned 59 percent profit margin on its oil refining operations in the United States.
In other words, these were windfall profits, the direct result of deliberate price gouging during both. a time of political-economic stability in the Middle East, and a series of natural disasters (i.e. hurricane Katrina and Wilma) in the American South.
It seems as if the oil companies are a little confused. Of course we could invite them for another appearance before the United States Congress, but when you consider the $55 million in bribes...ur ah...contributions which have been made by the oil industry to bribe,,,ur ah...influence our elected officials since 2001, I think we can safely assume that our leaders are as corrupt...ur ah...as confused as the oil companies are.