Record Oil Company profits...

[timmgirvan]

Originally Posted by SCUDSBROTHER

Obviously,their profits are absurd.They wouldn't be if there was price competition.There is very little competition going on.There are a lot of reasons for high prices,but only one real main reason their profits are this high(no price competition.)Regulate? How about it works like other free market systems,and have many companies competing by offering the best prices possible for the consumer?

Their profits are absurd..but most of their profits comes from overseas oil sales...they put 30% back into R&D(as per an Exxon stockholder and employee I heard on radio last night). In Nigeria, gas is 6.50 a gallon,Europe is as bad or worse! I know, I know...they keep flashing those huge numbers but they actually made less that Wall Street projected. It's a pickle for sure, but windfall profits tax just put more money at the govts disposal...and we know how well that works!!