Friday, May 12, 2006
Oil & Gas - Why are we over a barrel?
So, the most profitable oil company is 116th on the list of profitable companies.
Now, I wonder why the media doesn't holler about numbers 1 through 115?...
Now, I wonder why the media doesn't holler about numbers 1 through 115?...
From an article by Dan Gainor in the Washington Times:
"Why investigate the issue and find out the many major reasons gas prices are so high when I can blame the oil companies just like TV news does? That's the attitude the media have been driving home for more than a year now. They bemoan the 'record profits' of oil companies and don't bother to tell you they have no idea what that really means.
In the real world, that means merely the oil companies are big, and big companies, if well-run, inherently make big profits. The actual percentage profit, a number used by investors, not blowhards, illustrates this. ExxonMobil had more profit than any other company, but it also is 'gi-normous' as a friend of mine used to say. Still, its profit margin was 10.6 percent, placing it at No. 116 on Fortune's list of top 500 companies.
By contrast, Microsoft made almost 3 times as much -- 30.8 percent."
