Big Oil / Windfall Profits
A few quick comments on the oil profits debate:
Oh no, a company actually trying to make a profit? I thought they just worked for free.
I guess the government should just take away profit from companies who make too much, hm?
But you do realize that profit is the whole reason for their existence. So taking away the ability to create wealth is taking away incentives to operate.
And, have we forgotten what happened last time something like this is done?
Speaking of profit, Oil companies have a low profit margin compared to other industries.
Coca-Cola: 27.6% of revenue
William Wrigley Jr.: 15.6% of revenue
Wells Fargo: 20% of revenue
Altria: 10.7% of revenue
Kimberly-Clark: 10.5% of revenue
Anheuser-Busch: 15.1% of revenue
Exxon Mobil: 9.8% of revenue
(source for profit margin figures: Forbes)
A great analysis Here.
"High prices do more to encourage conservation and production than anything Congress could dream up."
Oh no, a company actually trying to make a profit? I thought they just worked for free.
I guess the government should just take away profit from companies who make too much, hm?
But you do realize that profit is the whole reason for their existence. So taking away the ability to create wealth is taking away incentives to operate.
And, have we forgotten what happened last time something like this is done?
Speaking of profit, Oil companies have a low profit margin compared to other industries.
Coca-Cola: 27.6% of revenue
William Wrigley Jr.: 15.6% of revenue
Wells Fargo: 20% of revenue
Altria: 10.7% of revenue
Kimberly-Clark: 10.5% of revenue
Anheuser-Busch: 15.1% of revenue
Exxon Mobil: 9.8% of revenue
(source for profit margin figures: Forbes)
A great analysis Here.
"High prices do more to encourage conservation and production than anything Congress could dream up."
posted by Unwilling Participant at 3:52 PM
2 Comments:
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