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General Off-Topic Board / Re: Oil hits 100/barrel
« on: August 05, 2006, 05:50:53 PM »Quote
weren't oil company profits--profit, not revenue--recently at an all-time high? yeah, greedy oil companies couldn't have anything to do with that, it's all because of... the increased costs on their end.
While oil company profits may be at an all-time high, the profit margin of oil companies is not much higher than that for all industries and actually trails many industries such as banking, pharmaceuticals, and real estate, among others. In addition, consumers in the U.S. pay much lower prices for gasoline than do consumers in most other industrialized countries, which see higher prices due mostly to taxes.
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