Originally Posted by stekim

What does that have to do with the price of oil? Whether there are 5 or 500 oil companies, they still don't control the price of oil or gas. If you don't like the price of something you are free to buy less of it.

Originally Posted by Anikdote

Let instead of talking about profit, lets talk about profit margin. If the cost of production rises then also profits will rise, but they're profit margin still remains stable at around 10%.

Since when has making big profits been criminal?

Originally Posted by ABoyNamedSue

ExxonMobil also broke records with paying the most single-quarter taxes of any American corporation, in history.

I guess you won't be seeing THAT headline on MSNBC.

P.S. Their profit margin is still comparable to any other corporation's profit margin. They just move more product.

Originally Posted by Anikdote

Let instead of talking about profit, lets talk about profit margin. If the cost of production rises then also profits will rise, but they're profit margin still remains stable at around 10%.

Since when has making big profits been criminal?

Originally Posted by Garth

Exxon's Record Profits

Gas prices are at the highest that they have ever been, and Exxon Mobil just reported a $10.9 billion dollars in profits for the first quarter. The second largest quarterly profits by any American company - ever; beaten only by Exxon Mobil's last quarterly profit of over $11 billion.



I understand that much of the price we pay for oil goes to refining and drilling costs, but is $10.9 billion really necessary. You think they could limit their profits to only $5 billion and drop the price of gas a few cents? It just looks a little fishy to me.

Originally Posted by DanishDynamite

That being said, it is high time the US was subjected to the same high prices the rest of the civilized world is paying for gas. And $3.50 per gallon is low. It is small change. Time to add on some serious environmental taxes as the rest of us have live with.