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This is absurd! Does anyone else think we are being gouged at the pump? While I believe companies should make a fair profit for doing business, but 40 Billion?!?
This is absurd! Does anyone else think we are being gouged at the pump? While I believe companies should make a fair profit for doing business, but 40 Billion?!?
Profit margin has improved but still less than half of Microsoft, substantially less than Bank of America, on par with GE and others. They just do a lot of volume world wide so the numbers are big.
This is absurd! Does anyone else think we are being gouged at the pump? While I believe companies should make a fair profit for doing business, but 40 Billion?!?
If you research the profit margins of gas, you'll find that its actually gone down. What you'll also find is that the government is making a killing from the price of gas going up, because their margins are 3-4 times what Exxon's are in taxes. This means that while Exxon has made $40 billion, the federal government has made about $125 billion in extra taxes from Exxon ALONE. (add in the other gas companies and you can see $250+ Billion in tax revenue)
The reason their profits are so high, is because they have cut costs, and people are demanding more gas, a lot more gas, and not only here in the USA. China is increasingly coming gas depending by leaps and bounds, meaning that the supply is lower, and demand is much higher.
If only our government would allow more drilling here, or people we not so outraged over nuclear power etc. Until we as consumers learn to either stop driving, or accept alternative power sources that are feasible currently, or our supply goes up, this problem is only going to get worse.
And those poor folks at Exxon have to bribe -- er ah pay -- a lot of money to Congress to get to do this good business to the benefit of all. Over a million$ from the corporate scum -- er ah corporate officers and drones -- into the PAC. And that is all after taxes, yunno.
And there is still the Billion$ in damages from the Exxon-Valdez accident that they have evaded paying. Those lawyers to make ducking responsibilty possible do not come cheap, either.
It is rough being Exxon. Now shut up, bend over and buy some more gas.
And those poor folks at Exxon have to bribe -- er ah pay -- a lot of money to Congress to get to do this good business to the benefit of all. Over a million$ from the corporate scum -- er ah corporate officers and drones -- into the PAC. And that is all after taxes, yunno.
And there is still the Billion$ in damages from the Exxon-Valdez accident that they have evaded paying. Those lawyers to make ducking responsibilty possible do not come cheap, either.
It is rough being Exxon. Now shut up, bend over and buy some more gas.
Happy Motoring.
Exxon has spent billions cleaning up the Exxon-Valdez accident, they are fighting the punitive damages, not the cleanup costs.
Saw this article...if 1/3 of our cars were diesel we would use 1.4 mil less barrels per day.
You know honestly. The only thing about a 40b profit that angers me. The fact I did not invest in them. .
My thoughts exactly. As a business person I don't have any objection to companies making a huge profit. That's what they are in business for. Thats capitalism. I just wish that I bought their stock.
Location: Georgia, on the Florida line, right above Tallahassee
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As a stock owner of an energy fund, you want them to make as much profit as humanly possible. AS an owner of a gas burning vehicle you want gas to be as cheap as possible. Living in the USA, we have some of the cheapest gasoline prices in the world. If the only thing you have to worry about is gas prices, youv'e got it made. Could be in Kenya getting your arm chopped off with a machete by a "protester". And THEN have high gas prices.
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