Exxon’s Profits Alone Could Cover U.S. Hospital Uncompensated Care

Exxon/Mobil announced record profits of nearly $40 billion for 2006. Their cash flow from operations and sales stood at over $52 billion.

The company could write a check and cover hospital bills for all people with coverage. In 2005 this amounted to $28.8 billion.

While our country is fairly concerned about rising health care costs, energy profitability is celebrated, at least by the current occupant of the White House. In 2002 Exxon/Mobil averaged $2 billion in profit per quarter. By 2006 this grew fivefold to roughly $10 billion a quarter. In between a Republican Congress passed an Energy bill with $6 billion in subsidies to Big Oil.

What does it say about America that one corporation’s profits could easily pay the hospital bills for its citizens without health insurance? Do the President's free market solutions for containing health care costs inspire you as these same policies gave Exxon its gargantuan profits? You tell me…