Why Does Big Oil Hate America?

Set against the backdrop of high fuel costs, today the economic slowdown. Well, while most Americans have less money to spend on other things thanks to the 60% increase in the price of gas, these fortunate companies are literally rolling in moolah:

- USA Today reports "Exxon Mobil said Thursday that first-quarter earnings soared 44% from last year, due mainly to strong crude and natural gas prices...The company's net income surged to $7.86 billion."

- Reuters reports "Royal Dutch/Shell comfortably beat analysts' forecasts to report a 28 percent rise in first-quarter profits, helped by surging oil prices and strong refining margins...The company's earnings rose to $5.548 billion."

- The Houston Chronicle reports "ConocoPhillips, the nation's third-largest oil and gas company, said today that first-quarter earnings soared year-over-year on high oil prices, though they were partially offset by unplanned downtime in the company's exploration and production unit. The company's net income jumped to $2.91 billion."

Are patriotic American oil companies not willing to forgo some of their record profit by keeping prices from rising too high in order to allow other businesses dependent upon fuel to maintain production levels sufficient to keep the economy growing? Are patriotic American oil companies not willing to forgo some of their record profit by keeping prices from rising to high in order to allow the patriotic American consumer - the pillar of the American economy - to have sufficient disposable income so that consumer spending continues to improve?

The high fuel prices are directly responsible for the slowing economy - and it wasn't moving along all that briskly to begin with. So faced with the choice to help America get stronger through economic growth by making a small sacrifice in profit margin or to reap the profits from extremely high fuel prices while likely triggering, if we're lucky, and economic "soft patch" (a recession if we aren't so lucky), these companies have chosen to screw America.

Why does Big Oil hate America?