Corporate oil criminals, soulless traitors of the public trust:

"Look what ExxonMobil is doing with its huge profits and margins... The company isn't putting real money into alternative energy. Last year it assigned three-hundredths of 1 percent of its profits -­ $10 million ­- to renewable energy.

It isn't expanding refinery capacity. A major way the oil companies keep prices spiraling and profits flowing is to maintain tight refinery output...

The big use of Exxon's profits is buying back its own stock. Check these brazen figures. In the first quarter of this year, Exxon reported spending $5 billion buying back its own shares. This is more than the $4.1 billion it said it would spend on exploration and production.

There's more. The oil giant said it would spend $18 billion repurchasing its own shares in the next three quarters of 2006. This is great news for Exxon executives with stock options. Greed at its highest, to heck with the energy needs of the country and stopping the gouging of American motorists..."

http://www.counterpunch.org/nader07292006.html