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December 01, 2005

The Truth About Oil Companies

...is that they're not making all that much money on a per-unit basis:

Over the last five years, the American Petroleum Institute points out, the oil and natural gas industry netted 5.7 cents on every dollar of sales, compared to 5.5 cents for all U.S. companies.

Can't cite it now, but I also read that the profit margin for the oil industry was 9%, compared to 8+% for all industries.

Let me see. Democrats want lower oil prices, but they don't want to allow additional drilling or refinement in the US, and they also want to reduce the incentives to produce more (and do so more cheaply). And in the latter, of course, they're joined by many grandstanding faux-populist Republicans.

posted by Ace at 11:01 AM

| Access Comments


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Idea » December 01, 2005 The Truth About Oil Companies ...is that they're not making all that much money on a per-unit basis: Over the last five years, the American Petroleum Institute points out, the oil and natural gas industry netted 5.7 cents on every dollar of sales, compared to 5.5 cents for all U.S. companies. Can't cite it now, but I also read that the profit margin for the oil industry was 9%, compared to 8+% for all industries. Let me see. Democrats want lower oil prices, but they don't want to allow additional drilling or refinement in the US, and they also want to reduce the incentives to produce more (and do so more cheaply). And in the latter, of course, they're joined by many grandstanding faux-populist Republicans. posted by Ace at 11:01 AM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments JackStraw: "Meanwhile, President Somebody Shit My Pants is in ..." stu-mick-o-sucks: "Sock off ..." J.J. Sefton: "307 AOC is good as a front-maam for the radicals, ..." Hadrian the Seventh: " [i]Adam Schiff in 2018 said pardoning a presiden ..." 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