ExxonMobil CEO, Rex Tillerson, finally got to explain his high profits.  But you won't see that explanation in the video.  It's written in the article.  The record profits of $11.7b has been headlined in newspapers and TV reports around this country.  The implication is that these profits are the reason the prices at the pump are so high.  Has anyone noticed that this contradicted the previous headlines that blamed futures' traders for driving up the price?

The profits they earned apparently work out to $1,400 per second.  Sounds pretty good.  However, Tillerson gets to add in the cost of production and the taxes that were paid: $15,000 per second for costs and $4,000 per second for taxes.

The media hype is that they should be vilified for these high profits.  There should be an extra tax on exorbitant profits.  And this will help the average driver at the pump how?  It will just be more money going into the politician's pockets.  The tax is 285% higher than the profit.  Why doesn't the media point out this exorbitant tax?  One would think that the government could afford to waive the taxes at the pump that they impose with this windfall of taxes from the fuel companies.

During the 90's when gasoline prices fluctuated very little and the price of everything else went up including taxes, not one word was heard from the media as fuel companies struggled to stay in business and earn enough to continue research and exploration.  Nobody wondered how it was possible to sell fuel in 2001 for the same price as 1991.  But then oil has always been a boom or bust business. 

When you see a headline, and read what the reporter wants you to read, remember that the reporter is not in a court of law where he is obliged to not only tell the truth, but to tell the whole truth.  If you want the whole truth, you have to hunt it down yourself.