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Who’s to Blame? Redux

Related Post: Who’s To Blame?

Talk about “Big Oil” being an easy scapegoat — check this out:

“… Exxon’s profit margins are below-average compared with others that have triggered no outcry. Exxon’s first-quarter profit margin was 9.4%, meaning it kept 9.4 cents of every $1 in revenue. Microsoft kept 27.3 cents of every $1 in revenue in its most recent quarter; General Electric, 11.4 cents and McDonald’s, 12.3 cents. In fact, Exxon is below the 11-cent average of Standard & Poor’s 500 companies, says analyst Howard Silverblatt.”
Source

and …

“Chevron’s total 1Q sales were $54.6 billion, meaning that Chevron’s profit margin was a little less than 7.5%.Source
ConocoPhillips had 1Q net income of $3.29 billion on sales of $47.9 billion, or a profit margin of just less than 7%.
Source

Of course, none of us wants to pay more for gasoline/diesel/home heating oil than we have to, but perhaps we are all showing early signs of withdrawal from our ADDICTION TO OIL?

All the public outrage being directed at “Big Oil” isn’t hitting the other companies — who post double or triple the profit margins of Exxon and Chevron — yet some of those same companies provide modern day “necessities” (General Electric; the phone companies; even Microsoft if you use a single Microsoft product — which much of the world does, these days.)

Food for thought, if nothing else…

Oh, and for the contrarians out there that say OIL/GAS are a NEED, you need to review your grade school biology. The basic needs for life are: Air, Water, Food, Shelter and Clothing. (I suspect most of us could even do without clothing, in a pinch, although in most places on Earth we’d either freeze to death or develop third degree burns and fire ant bites over 99% of our body… so, yeah, clothing isn’t optional.) The way people talk about gasoline these days, I think you’d have an easier time convincing them to give up clothing than you would convincing them to spend gasoline more wisely.



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