Gas Prices

[twodko]

If the greatest generation wasn't retired, this would be resolved.

Isn't that the truth!

[gtx6970]

Sorry, but listed profit margins are and can be  easily  scued to reflect what ever  upper management/stock holders want the public to see. Thus unless actual accounting records are avail , no one is ever going to know ACTUAL profit margins.

Profit margins to high this month?
Easy fix -  Upper management draws a bonus and  the paperwork shows less 'net' profit, big business does it all the time to alter tax contributions.

my opinion only.

I saw something on tv Monday that Mobil, Exxon, and BP are making 41% profit on the gas prices right now.

I'm not here to defend any oil company, but at least let's all get the correct facts. And then put it into perspective.

Exxon runs at an 8.89% net profit margin, this is an audited figure for 2010. It was 6.8% in 2009. It never has been, nor will it ever be, 41%. That is simply factually incorrect. Basic financial research will obtain any company's profit accounting. But then TV (and today's journalists (alleged)) would never bother with fact checking.

The 8.89% is significantly less than Microsoft, Cisco, ATT, Pfizer, Johnson & Johnson, etc etc. There are hundreds of companies with greater profits (net and percentage measurements). There are numerous industries with average profits double that of oil (tech first and foremost). We all pay grossly higher rates per unit for bottled water and nail polish than gasoline.

Just saying.

So bash Exxon for the 8.89% but not for the factual error of 41%. But first let's do something about printer ink cartridge pricing and Microsoft software. Now that is a crime if there ever was one.

My prices are $4.19 to $4.39 here in Northern California by the way. 

[Vainglory, Esq.]

Get your tinfoil hats ready!  Things are being "scued."