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have held steady--10 to 12%--since 2005 in spite of the huge run up in
crude prices. In fact, if you look at the earnings/revenue figures in Genic's
post, 10.9B/116.8B, you'll see that earnings as percentage of revenues in
Exxon Mobil's most recent quarter are 9.3%. It's tough to make an
argument that oil company's are taking advantage of the run up in crude
when their earnings are barely keeping pace with the increased cost of it.
But earnings figures as a percentage of sales rarely appear in mass media
info about how much profit is made by the suppliers of our energy. Yes, oil
companies' profits are big but compared to sales, they are not.
 Chance favors the informed |
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