Quote:
Originally Posted by A1R3K
the oil companies are not making the profits people think they are. many don't know that the oil companies are raising prices, but the gov has raised taxes on them 300% or more. lots of factors at play here.
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whaaaaaaaa?
Chevron Corp.'s annual profit to $18.7 billion in 2007, the fourth consecutive year that the San Ramon company made record amounts of money.
Other companies have made even more. Exxon Mobil, the country's largest oil company, reported on Friday that its 2007 profit hit $40.6 billion, a 3 percent increase from 2006, while sales passed $404 billion. No American business has ever scored a higher profit.
+ where/when did the gov increase oil co taxes 300%? what country was that in?
not in the u.s., dems tried to recind tax breaks for oil companies back in feb but that's no where near what you said.
lot's of misleading info in this thread.
moreover, many oil companies are investing A LOT of r&d in the future of alternative fuels, you do realize they know better than we do that their oil producing business has a timeline