On Wed, 23 Apr 2008 17:30:36 -0700, Doug Winterburn
wrote:

Dave in Houston wrote:
"Fred the Red Shirt" wrote in message
...

Not all petroleum comes from OPEC nations, But enough
does that they control the price on the world market.

Which means that our patriotic American Oil companies are selling us
their domestically produced crude for the same price the Saudis are selling
us theirs?
Which, if true, I suppose is where Exxon-Mobil makes a good chunk of their
$49 billion profit?

Actually, $40 billion on $400 billion total revenue - or 10 cents on the
dollar. The also paid $30 billion in income tax.


I seriously doubt Exxon is paying $30B income tax on $40B net.

Renata



Whoever said there is no honor among thieves was right.

Check out MicroSoft. $51 billion total revenue with $14 billion profit
- or 27 cents on the dollar! They did pay $6 billion in income tax.
With that big of margin, I wonder why they charge so much since they
have over 90% of their market? Oh, that's right, they're in business to
make money for their investors, which includes my IRA funds.

I'm happy I invested in Exxon-Mobil - took the sting out of the current
market downturn.


Dave in Houston