Originally Posted by
Biglewi1
How is my math skewed with the TOP 5 profit margin in the trillions? 10% being hardly? Really, care to explain?
BTW...I'm not asking for more taxes, just asking the question...Trillions of profit, is it really needed? I could understand 10 Million in profits...but Trillions, dang man, that's close to our national deficit. just saying.
You need economics 101, profit margin and total profits are two very different things. You may have noticed oil is a popular product, lots of people buy it and need it.
Profit of 8% or so is constant over any amount, you are just having a little trouble wrapping your mind around the size of the business.
Once you can do without oil, you won't have to worry about how much people sell it for, but that isn't going to happen anytime soon.
In fact the government takes about 42 cents on every gallon of gas sold and the typical oil company makes about seven cents. Do the math on that.
In the meantime, back away from the TV and start studying economics, you will benefit greatly from the experience.
