Thursday, May 12, 2011

The Oil Industry's Profit Margin Is Not Unusual

See Oil Industry Profit Margin Ranks #114 out 215 by Mark Perry of Carpe Diem. Excerpt:

"The top five oil companies (Chevron, Shell, BP, ExxonMobil and BP) are part of the "Major Integrated Oil and Gas" industry, and the CEOs of the "Big Five" are appearing today before the Senate Committee on Finance, to get grilled about the "taxpayer subsidies" and "tax breaks" they receive, explain why they deserve to earn record "windfall" profits, and explain the role they play in higher oil and gas prices.

... the Integrated Oil and Gas industry made an average profit of 6.2 cents per dollar of sales, which ranks #114 out of 215 industries by profit margin, and puts oil companies right in the middle of industries by profitability."

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