Senator Hansen is once again screaming that the “Big Oil” companies are “gouging” us here in Wisconsin and in the US. He cites Exxon-Mobil stating “Exxon-Mobil reported first quarter profits of $8.4 billion (up 7% over last year) setting a record for the fifth-highest quarterly profits ever recorded by a publicly-traded company” this information is correct if all you looked at was the bottom line but the truth is in the details.

Exxon-Mobil had a net US profit of $2.3 billion (down 8% over last year!!!!) making up only 23% of the net profit of the company. Last year the net profits from the US made up over 31%.

If Exxon-Mobil were gouging us, wouldn’t they have made more money than this time last year?

Bottom line for those out there like Senator Hansen…if prices are higher this year than last and profits are lower this year than last…GOUGING IS NOT OCCURRING!!!!!

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