OnBackground

An online journal of politics, policy, and society with a special focus on Maryland -- Contact: on_background at yahoo.com.

Thursday, April 28, 2005

High Gas Prices' Real Source

The Center for American Progress, quoting the Wall Street Journal:

As consumers struggle with high prices at the pump, "Exxon Mobil Co. reported a 45% surge in net income, while Royal Dutch/Shell Group's earnings rose 40%, as persistently high oil prices fed the industrywide profit bonanza."