Perspective

Posted on May 2, 2011 by Vorys

With the renewed targeting of the profits made by some of the majors in the oil and gas industry, we thought some perspective is in order.  From ExxonMobil:

Here’s a simple fact of economics that’s getting everyone in Washington pretty excited this week: When prices increase for a commodity like oil, companies that produce and sell that commodity earn more money.

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For every gallon of gasoline, diesel or finished products we manufactured and sold in the United States in the last three months of 2010, we earned a little more than 2 cents per gallon. That’s not a typo. Two cents.  (Emphasis is ours.)

What are the taxes on a gallon of gasoline?  48-cents?

Regarding other industries:
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