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US giants Conoco and Exxon have more money these days than they know what to do with, so they're handing it out to shareholders. What they aren't doing with it is much that will reduce the oil crunch.
While many Americans struggle to fill their gas tanks, big U.S. oil companies are making so much money that they literally don't know what to do with it.
Instead of reinvesting more of their newfound wealth to increase supplies or develop emerging technologies that might one day reduce energy costs, they are giving much of the loot to shareholders already enjoying outsized gains.
The above is taken from MSN Money today.
I especially loved the use of the word loot in the last sentence.
Maybe they could help the government prop up Fannie Mae/Freddie Mac? That was a major blow to the overall US Economy.
CF
While many Americans struggle to fill their gas tanks, big U.S. oil companies are making so much money that they literally don't know what to do with it.
Instead of reinvesting more of their newfound wealth to increase supplies or develop emerging technologies that might one day reduce energy costs, they are giving much of the loot to shareholders already enjoying outsized gains.
The above is taken from MSN Money today.
I especially loved the use of the word loot in the last sentence.
Maybe they could help the government prop up Fannie Mae/Freddie Mac? That was a major blow to the overall US Economy.
CF
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