Date:         Sun, 30 Jul 2006 08:52:50 -0700
Reply-To:     Loren Busch <starwagen@GMAIL.COM>
Sender:       Vanagon Mailing List <vanagon@gerry.vanagon.com>
From:         Loren Busch <starwagen@GMAIL.COM>
Subject:      Re: gas prices (again)
In-Reply-To:  <979e9fd4f78891681744ab6b01dc3d7e@bluemarble.net>
Content-Type: text/plain; charset=ISO-8859-1; format=flowed

 RE: Oil Company Profits
I took a quick look at the Exxon SEC filings and Annual Report.
Summary:  $208 billion in assets, reported $10.3 billion in profit for last
quarter.  That comes to about 5% return on investment, about 20% annually.
And paying taxes at 47% rate.  Good return on investment and around what
most investors would be happy with, not way out of line.  Most small retail
stores are looking for 35% to 60% margin, 20 to 30% net on sales.  And when
we spend $1 for a quart (usually smaller) bottle of water we are paying $4 a
gallon or more.
When the US oil companies are not allowed to pull the oil from the monster
reserves here at home, along our coasts, and no new refinery has been built
in the US for 30 years (adding the cost of pumping or hauling to the price
of gas) it's no wonder the prices are going where they are.
Do I like it when I fill the tank on my Westy? (VC) Hell no.  Do I
understand it? Yes.