Another lefty kook has his say on a subject of which he obviously has little or no knowledge.
The entity that takes the most "profit" from the oil industry is the FEDERAL government in the form of taxes.
They are publicly held companies, read their stock reports!! The oil companies pay billi>> >>
> > Shell, BP, Exxon, have reported record profits in the last couple of >> > years.
>>
>> > Thoughts?
>>
>> > --
>> > ____
>>
>> > --Boycotting the 2008 China Olympic Games--
>>
>> Profits mean nothing. You have to look at PROFIT MARGINS.
>>
>> Before you get angry at the oil companies, remember: food, pharma,
>> banks and a few other sectors have higher PROFIT MARGINS than oil >> does.
>>
>> Oil sinks a lot of profit back into exploration and infrastructure. >
> And into their pockets. You can't compare profit margins with big oil
> and other companies. When oil was 10 dollars and their profit margins
> were 10%, they made $1.00. Now oil is $120, so maintaining the same
> profit margins mean that they are now making 12X profit. The oil
> companies have no incentive to increase oil refinery production as it
> would hurt their profits. They are the only company that gains when
> the price of their raw materials goes up.They have a money machine and
> the war in Iraq was the best thing to every happen to them.
>
> As for not blaming them for making a profit? I have a problem with
> CEOs that are getting mind numbingly rich off of the countries
> problems. They could easily have increased profits while lowering
> their profit margins. They are no more better than a grocer jacking up
> the price of food after a natural disaster. The thing I find the most
> troubling is how many people buy the political BS from the politicians
> who are in their pockets and defend these thieves.
>