As a typical example, Exxon reported $220 billion in revenues and a $20 billion net profit for one of their quarters last year. That means expenses incurred were $200 billion, from which they made a $20 billion profit. $20 billion is 10% of $200 billion, hence the conclusion that Exxon made a 10% profit. That is a very standard and appropriate American business profit margin. Some quarters may vary within 1-2% of those numbers.

It's a dead end road to bash an American industry that is posting 10% profits. Just ask Congress. I think you, and many others, are projecting the anger and fustration you feel about the underperformance of your own industry on to the oil industry.

If you want to be mad, be mad, but be mad at the right people. Look at your own industry and ask yourself about the competency and motivatioins of the peope running that sector.

Why can't your managers post a standard 10% profit?

And how much complaining would you do if they did?

JP