So much for high profits...
Exxon Mobil has just announced that they will be getting out of the retail gas service. Oil prices have become too high to continue this operation as profit margins continue to decline. So much for the argument of liberals that profits are too high. Exxon has stated they will begin to sell of company owned gas stations to other retailers around the country. This is surprising since Exxon is the world's largest gas distributor.
This is clear evidence, since these companies as all privately owned companies seek to make a profit, that pressure and interrogations the oil and gas companies that have come under on Capital Hill is nothing but political pandering to the masses. Their hand in the oil crisis is minimal at best but better stated negligible.
As stated by large oil and gas companies numerous times in Congressional hearings, their average profit on a gallon of gas is only 5-6 cents per gallon. As prices of oil continue to increase the profit margin declines and consequentially the economic viability of this area of business.
Stop the rhetoric about "big oil" Congress and vote to Drill Here, Drill Now, Pay Less. Write your representatives and let them know.
you've got to be joking - the oil industry (bush/cheney & co) have been raping us for years - leave the rest of the world alone and don't drill there or anywhere you moran - go with clean energy - may not be as profitable but it is certainly better for the future
So I guess the CEO will only be able to afford one gold-plated car this year, heh heh. In the end, their profits will still be rather high. Of course, a higher percentage of that profit better go to finding more oil and funding research for cleaner alternatives than into record-breaking salaries this time around; for 5 cents profit per gallon , none of their employees look worse for wear to me. They'll shave off what they can, but it's about time the higher-ups suffered if our economy is as screwed up as everyone says.
Rationed gas, here we come!
To the Anonymous Idiot who left the first comment go back to school and learn to spell! It’s is spelled moron not “moran.”
I don’t have a problem going with cleaner energy, but at this time the technology is not quite in place. As the Anonymous Idiot stated it may not be as profitable so as a result we have to pay more in taxes to subsidize the cleaner energy. Keep the Fed out of our lives and let the private industry figure it out. Private industry without the Fed always works more efficiently and solves the problem better. Oh by the way we would all have lower priced fuel if those idiots in Congress would let the oil companies drill in Arctic National Wildlife Refuge (ANWR) and offshore. We keep sending the message to the oil producing countries in the world to screw us because we refuse to drill for our own Oil & Gas. I know the Democrat Party wants to destroy our country with their Communist-Socialist-Nazi leaning ways.
By the way Anonymous Idiot, rationed gas will come if we go back to the failed WPT and we don’t start trying to become energy independent. Did you know that China is either drilling or getting ready to drill off the northern coast of Cuba about 45 miles from the coast of Florida? ….And the Fed makes 3 to 3.5 times more off of O&G than the oil companies.
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