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September 26, 2005

The Rich Continue to Get Richer...

Anyone else scared about their winter heating bill? I'm sure my gas bill will go up, and since my pay doesn't rise and fall with energy prices, I'm sure it'll squeeze some fun out of my holiday season.

But never fear, because as the masses get poorer, the rich get richer.

Rita damaged oil facilities much less than expected, and oil prices fell on Sunday. Inside, the WSJ claims, "Consensus earnings estimates have actually risen since Hurricane Katrina. Most of that is because energy companies are raking in so much cash. But even outside of energy, profit expectations for the next few months haven't fallen that much."
From Today's Papers, by Bidisha Banerjee in Slate

Posted by cj at September 26, 2005 7:58 AM


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