Quote:
Originally Posted by MeatGrinder
Exxon makes an average return of 9% year after year. The "Big Oil" companies also make between a 8-9% return, year after year.
As a comparison:
Microsoft 2007 sales of 51.1 billion, net profit of 14 billion = 27% return
Coca Cola 2007 sales of 28.8 billion, net profit of 6 billion = 21% return
So stop blaming Exxon, and start getting mad at Coke.
BTW, Exxon paid $29,800,000,000.00 in income taxes last year. That's
29.8 billion. But what the heck. Let's squeeze 'em for more. That will
make everybody feel better.
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Your figure of 9% is about 4 years old. As gas prices went up so did there profit.
Exxon Mobil's 17 percent profit increase lagged behind the gains of 25 percent and 63 percent by Royal Dutch Shell Plc and BP Plc.
Houston-based ConocoPhillips, No. 3 in the U.S., posted a 17 percent profit increase, to $4.14 billion
Bloomberg.com: Worldwide
Look, I know they are in the business of making money. I just bought my 300C 3 weeks ago. I knew what the gas prices were and that they will go up. I not bitching or whining, but I do not believe that a company makes 40 Billion on a 9% profit.