Adding Up the Profits

August 28, 2006

During the first six months of this year, Exxon-Mobil Corporation grabbed $20 billion in profits or $1,300 for every second of every hour. During this same period, profits for the top five oil monopolies (Exxon, Shell, BP, ChevronTexaco, ConocoPhillips) totalled nearly $65 billion.

At this rate, these 5 corporations are making enough profits to provide $14,000/year for every family of 4 currently below the poverty level or to provide every American worker with a $1,000/year raise. The oil capitalists have "earned" these profits by monopolizing the natural wealth of our country and exploiting the labor of the workers.

The billions in profit grabbed every month by the oil barons is only a small part of the total surplus value extracted from the workers by the monopoly capitalist class - the big banks and insurance companies, the drug monopolies, telecommunications giants, the military industries, etc.

With such gigantic bloodsucking parasites on the body of our society, is it any wonder that tens of millions of working people go without such necessities as health care and still can barely make ends meet? Shouldn't the natural wealth and productive capacity of our country be used to guarantee the well-being of the workers whose labor creates all the material goods?