[PRCo] Re: Excess Profits - Oil Companies

[Rich Rockwell]

I'm wondering where you heard this too.  Here are some of the statistics I
see from reputable sources:

Profits from the four major oil companies combined in 2007 was $100 billion
(US News & World Report, May 22, 2008)

In the fourth quarter of 2007, Exxon's profits were $10.25 billion.  That
was the highest quarterly and annual profits ever for a US Company - it rose
14%,  nearly quadrupled from $11.5 billion in 2002.  Their previous
quarterly record was $10.7 billion, (CNN Money.com, Feb 1, 2008)

In 2004, Exxon's CEO, Lee R. Raymond's annual compensation package was $38
million, a jump from his 2003 package valued at $27.9 million. (Forbes.com,
April 13, 2005).  In 2005, his annual compensation was $51.1 million
($141,000 a day, $6,000 an hour) and he got a retirement package worth $400
Million.(ABC News, April 14, 2006) 


-----Original Message-----
From: pittsburgh-railways-bounce at lists.dementia.org
[mailto:pittsburgh-railways-bounce at lists.dementia.org] On Behalf Of Herb
Brannon
Sent: Thursday, May 22, 2008 12:51 AM
To: pittsburgh-railways at dementia.org
Subject: [PRCo] Re: Excess Profits - Oil Companies

Who did you hear this from? 
Fred Schneider <fwschneider at comcast.net> wrote:  Just heard an interesting
news item on television. We all know that Hillary wants to take the 18 cents
a gallon Federal tax from the oil companies' excess profits. Now what I
heard was that the average profit on a gallon of gasoline is 8 cents to the
producer! Only two percent! Would you buy stock in a business that has only
a two percent return on sales?




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