When one company reports this much as profit for one year you ought to know something is wrong.
Keep in mind that for the year 2007 the national average price for gasoline was under $3.00 a gallon.
So, if the profits reported for the year when gas cost $3.00 a gallon was $40 billion then what will it be for $4.00 or $5.00 a gallon?
Let’s put this in perspective by using some basic math skills.
If they reduced the cost of gas by 10x then they would still be a multi-billion dollar profit company.
Think about that folks.
Exxon could lower their cost of gas to $0.40 a gallon and still make rougly (depending how much the producers, OPEC, charge the merchants) $4 billion in profit for the year.
That is still radically more than most companies.
At $0.04 a gallon they could post $400 million in profit for the year.
Again, much more than many companies.
So why do we as consumers tolerate this?
Here in the Dallas/Fort Worth metroplex a coalition, Exxon Enough!, has formed through various peace, enviornmental and consumer groups to challenge our local mega-corporation in Irvine, Texas.
We should could use some help.