Originally Posted by DJD
They are making record profits in the amount of money in income!! The media wouldn't have any story if they reproted that the gas companies are only making 8.3 cents per gallon, which according to the gas company Execs is the lowest PROFIT MARGIN in twenty years. In other words, in the past they may have been making .16 center per gallon and have given up half of their profits. The media takes the total dollar amount of profits, which is billions of dollars, and makes it sound like the gas companies are responsible for and get about $3.00 profit per gallon of gas sold when in reality they only get an average of 8.3 cents for each gallon sold.
None of the Exuctive denied that they are making billions in total profits but they all said the reason they are making so much money is because the AMMERICAN PEOPLE ARE BUYING GASOLINE IN RECORD AMOUNTS. Everyone seems to forget that the reason these companies are in business is to make a profit for their shareholders. If they can't make a profit there is no sense in being in business.
By the way, all of the states and the Federal goverment are making more profit, per gallon, in gas taxes than the gas companies. Even so, if they all stopped taxing gas and the gas companies gave up all of their profits, the price of gas would only come down about .75 cents average. I didn't actually average it out, but the combined state and federal gasoline taxes come to about .65 cents per gallon.
Grumpy
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