Quote:
Originally Posted by JeepKnut
Supply and demand doesn't set the price.
The oil company's do.
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That simply is not true. The oil companies sell as much oil as they can, and they do not gouge. They do not control the prices, supply and demand do. And they get the oil from producers depending on that S&D.
In the 2007 Fiscal year, Chevron pulled a profit margin of 8.46%, Exxon Pulled a profit margin of 10.04%, Royal Dutch Shell pulled a profit margin of 8.97%,
ConocoPhillips pulled a profit margin of 6.11%.
XOM - Exxon Mobil Corporation - Google Finance
CVX - Chevron Corporation - Google Finance
RDS.A - Royal Dutch Shell plc (ADR) - Google Finance
COP - ConocoPhillips - Google Finance
These are all fair market profit margins. They are not gouging anyone. They just sell a whole lot of oil, becuase we are all addicted to the consumption of it.
This is what a real monopoly looks like: Microsoft pulled a profit margin of 27.51%.
MSFT - Microsoft Corporation - Google Finance
Additionally, I will call out the false statements made here:
Quote:
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2 years ago I was paying $1.19 a gallon for regular!
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It just is not true:
A Primer On Gasoline Prices
THREE years ago the average gas prices in the U.S. were $2.27 a gallon.
Gas hasn't been $1.19 a gallon in about 6-8 years, depending on where you live.