Oil company profits have stayed about the same for decades.
The Democrats love to express the amount of profit in dollars because they sound so unimaginable to ordinary people and they can use that for partisan political purposes.
The profits on the substantial risks that oil companies return about 8% annually, less than most other large companies and far less than the dot.coms were raking in during the Clinton Administration. In fact, the oil companies have had better than average returns in only four years out of the past two decades.
McCain knows a great deal about the economy, especialy the technology sector. He was Chairman of the Senate Commerce Committe for years and is highly respected by the business and financial sector.
When he made that crack about needing to read Greenspan's book, that was his normal self-deprecating humor. It was completely twisted by the Democrats who are trying to discredit his substantial economic experience.
Now, please tell us where in the hell did Obama get any financial or economic experience.?
He has never run anything not has he served on any committees in the Senate that had to do with federal economic, banking or financial regulation.
He has never met a payroll, hired anybody, or run a business.
That is why Obama's so-called economic program is total nonsense.
Although he claims that he will only raise taxes on the wealthy, his tax increases will actually deeply affect every working and middle class family in America.
If you have a savings account, pension fund, 401K, IRA, mutual fund, own a home, are on a fixed income, or even have a simple savings account at a bank, you will pay higher taxes.
His plan to remove the cap on social security tax payments will mean that businesses can not expand and create new jobs because employers have to MATCH that increase on workers' salaries. They will have less money to put into benefits like health care for employees.
Obama's programs are the "hogwash."
He has no idea what he's talking about and he is only able to sell his hogwash to people who don't have the least idea how the economy works - the very young, people who just get simple paychecks and have never run a business, academics who don't think about it, people who depend on government benefits, etc.
Small business owners know how badly Obama's programs would devastate the economy. They're the ones who hire others and keep America growing.
BTW, the price of gas has doubled since the November, 2006, election. The stock market immediately reacted and started to slide. It didn't even wait until the Democrats officially took over Congress. Everybody knew we were in for economic trouble.