ExxonMobil posted record profits

[wendybeth]

Originally Posted by scaeagles

Well, today, the congressional hearings start on these evil money grubbing pirating profiteering oil companies.

Interestingly, does anyone know what Microsoft made in the 3rd quarter of 2005? $3.1 billion in profit. This is just about the profit posted by Conoco Phillips. There is one major difference, however.

Who sets the prices of Microsoft products? Well, that would be Microsoft. No one else. There is no software commodity market. Microsoft says "here's the product, here's the price, take it or leave it.".

I would offer that with the tremendous amount of computer technology that is integrated throughout every ounce of our existance, from the internet to operating systems to software to whatever, that it is just as important to our economy and daily life of citizens as is oil.

However, the commodities market sets the price for oil. Speculation. Fears of natural disaster. Etc.

I wonder how long it will be until Bill Gates is called before Senate committees to justify the gouging going on. I wonder how long it will be until Microsoft is subjected to a "windfall profits tax".

We have alternatives to Microsoft, don't we?

I almost feel sorry for those poor oil company executives! Nearly as sorry as I feel for the Enron guys, and the Worldcom people, and all the others that have been found guilty of market manipulation, stock fraud, insider trading, etc. I'm sure the oil industry wouldn't do such things!