Make big profit

The government tell us they have frozen duty since 2001 and are not making more money but the oil companies say they only make 2p a litre profit from it. So who is lieing because I want to know who is ripping me off at that pumps. Diesel is £6 a gallon (12$)!!!

What I specificly want to know is what is the full complete revenue of the oil business and what is this $123 billion- profit or something else.
If this is profit after expenses, depreciation, taxes and other things then what is the profit percentage in actually.
Maybe the oil business didn’t make a big excess unfair profit. How can we know for sure?????

Sopwith asked:


Should the U.S. public continue to be taxed and then charged at the gas pump, with record oil profits…?

Would the war would be as popular, if they didnt get “free access” to “their” oil?
the U.S. Govt guards the shipping lanes…and the depots…etc.

marnefirstinfantry asked:


More record profits for the oil companies. Shocking! While everyday people can’t even afford the gas it takes to get to their jobs, Big Oil continues to celebrate high prices at the pump, with record profits.

From The New York Times - Rising Oil Prices Swell Profits at Exxon and Shell…

Exxon Mobil, the world’s largest publicly traded oil company, reported on Thursday that second-quarter income rose 14 percent, to $11.68 billion, the highest-ever for an American company.

Net income of $2.22 a share compared with $10.26 billion, or $1.83 a share, in the quarter a year ago.

Revenue rose 40 percent, to $138.1 billion, from $98.4 billion in the quarter a year ago.

Excluding an after-tax charge of $290 million tied to an Exxon Valdez court settlement, earnings were $11.97 billion, or $2.27 a share

mountaingirl_1230 asked:


I think it is very interesting that we are all paying insanely high gas prices based on “supply concerns” while major oil companies continue to post record-breaking profits every quarter for the last several years. People are driving less than ever right now and oil companies are still making big bucks–doesnt that mean that they are just charging us a lot more than the actual cost of oil in order to get those huge profits? Why is it that at a time when the rest of the economy is going down the tank, that big oil companies are still raking it in?