Hey, Richie, the oil companies aren't doing too bad either. Yeah, the price of oil is increasing--the conservatives blame Obama for that--and gas at the pump is up around $4 a gallon in most places and $5 in some. Some reports say that people are driving less and using less gas. That should mean that the oil companies are suffering, right?
Not so fast, my friend. The oil companies are doing just fine, thank you very much. Here's how much the price of the stocks of several oil companies have increased, all within the last 7-8 months. With market performance like this, those oil executives will be getting multi-gazillion dollar bonuses. And if the recently-passed House bill cutting taxes goes thru, they'll get to keep a whole lot more of the money than they did last year. And the lobbyists will surely keep all those tax loopholes in place, maybe they'll even get Congress to improve on them. Maybe the oil company execs and the companies will even create some jobs.
Here ya go...
- Valero Energy (refiner) - +67%
Geez, if any of you own any of these stocks in your portfolios, you ought to be cheering Obama on to keep on doing what he's doing...particularly if you're driving an electric golf cart around The Villages (like me).