Bail Out the Oil Companies

My fellow Americans, the time for action is at hand. In less than three months, we’ve witnessed horrendous losses for major oil stocks. This is deeply destabilizing for the entire economy. We need—no, we insist that the government step in and protect shareholders from these losses. Personally, I blame short-sellers and rumor mongers.
Just look at some of these losses.
Stock…………………………May 20……………….August 4………….Loss
ExxonMobil (XOM)…………$94.56……………..$76.60…………..-19.0%
Occidental Pete (OXY)……$97.85……………..$74.23…………..-24.1%
ConocoPhillips (COP)……..$93.55……………..$79.45…………..-15.1%
Chevron (CVX)……………..$103.09……………..$82.80…………..-19.7%
Hey, they did it for Bear Stearns plus Phonie and Fraudie, why not the oil stocks? Will someone please think of the children!

Posted by on August 4th, 2008 at 4:11 pm


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