Saturday, May 28, 2011

Obscene oil company profits

Not so obscene after all; actually quite modest.
Compared to other American industries, the oil and natural gas industry’s profit margin are mid-range compared to other industries – 5.7 percent for each dollar, according to 2010 U.S. Census Bureau data.

Those industries making much higher net income/sales percentages on the dollar include beverage and tobacco products (21.7 percent), pharmaceuticals (19.4 percent), computer and peripheral equipment (17.3 percent) and chemicals (14.7 percent). (link)

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