America, Fight Back: Nationalize the Oil Industry! (tags)
Surging oil prices are sinking the U.S. economy, while Big Oil is raking in obscene profits. For example, ExxonMobil recorded profits in 2007 of $40.6 billion. Its CEO’s pay averaged out to $13,700 an hour. Today, gas is selling at $3.50 a gallon with no end in sight. Truckers are paying more for their diesel fuel and as a result food prices are rising. Globally, nationalization of the oil industry is the trend. It’s time for the U.S. to join that club.