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Location: Pantego, Texas, United States

Thursday, June 12, 2008

Exxon Mobil has announced that they are getting out of the retail gasoline business because it is losing money. I wonder what Bill O'Reilly and Congress think of that? Exxon Mobil owns most of their service stations, and the real estate is quite valuable. Exxon Mobil can make more money by selling that property and investing the money in finding and developing more oil and gas supplies. It will also get them out of the public eye so they will not get so much criticism as gasoline prices go up. If Obama is elected President, I would expect they would move their headquarters out of the USA, as Halliburton has done. Who needs the grief of dealing with the stupid members of the US Congress.

In the meantime, the corn crop is failing this year due to cold, wet weather. That is going to push up the price of gasoline, now that gasoline has to have 10% ethanol in it.

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