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Old Jan 31, 2006 | 10:27 AM
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Drink Up, Chumps
 
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From: Palm Beach Gardens
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Default Re: Exxon-Mobil posts major profits

Good for them. It has more to do with them selling more gas (including the 75% that they sell overseas) than them charging a high price at the pump. Actually, the're profit margin is still standing at 11% and it's lower than most big businesses. They made the mad loot on volume, not profit. (Kinda like Wal-Mart.)

For a comparison:


And the government will not step in, regaurdless of who's in the Whitehouse. If the government were to artificially fix the price of gasoline or a barrel of oil below the market price, the result would be an increase in demand without the necessary supply to support the demand. So Exxon will sell it's oil and gas to other countries whom could afford it. (i.e. China and India) And then we would have a gas shortage. It's a big machine which needs the all of the pieces to be working to go smoothly.