Quote:
Originally Posted by RawAlex
Stuart, the records profits have to be considered in terms of return on investment.
With the price of oil being significantly higher, a 10% profit is a much larger number. I would be much more interested to see what the profit margins as a percentage of business are, what the cash flow returns are, etc... I would bet you that the oil companies aren't making out anywhere near as good as the headline number might make you think.
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The problem with your theory is that the oil companies cook their books. They split everything into different companies. One deals with the oil drilling and exploration. One deals with refining. another with the pipelines. One with delivering the gas. One with that owns the stations. these boys are smart enough to not show their profits as one large company because it is so obscene.
These companies should be hit with a windfall tax and tried for war profiteering.