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Posted by Steve on Friday, February 29, 2008 at 14:29:23 :
In Reply to: Re: President Bush should come to the Adirondack Mts posted by MoparNorm on Friday, February 29, 2008 at 14:06:49 :
Norm,
I afraid you are in error with the above post.
The oil companies have been posting record profits quarter over quarter.
If their profits margins were consistent and only 8 - 10% as you've posted, then those huge profits would have been there for years running. They haven't been (at least not to the extent they are now).
Why the record profit spike in the last couple of years since domestic oil consumption has not increased much?
Further, with the cost of the product (oil) needed to refine gasoline increasing, one would think that their profits would stay roughly uniform as the oil price fluctuates since they have not increased capacity...
The only answer is they are NOT making 8 - 10% as you've posted.
They just want you to think that they are...
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