you said " They can't build more refineries without such outrageous restrictions that it isn't profitable."
It is true that the eco nazi and stringent gov regs make it not profitable for the oil companies to not update current facilities or build new ones. So you have access to internal documents?
This is absolutely not the case. In the last 10 years the Oil companies have been closing refineries...not applying to build any more. There OWN INTERNAL DOCUMENTS prove that they have deliberately reduced their refining capacity to increase gas prices. This is indisputable. And you blame the government?
1. Microsoft did not make make a bigger profit than the oil companies. Microsoft posted 4.3 billion dollars in profit in the first quarter of this year. Exxon Mobil posted profits of $10.89 billion dollars.
Are you fucking stupid Microsoft posts a profit margin of 34%, that is LARGER than the paultry 8-11% that oil companies make. Do you ignorant fools realize that the oil companies have been making roughly the same profit margin for the past 20 years? Do you also realize that since the profit margin is unchanged that along with record profits come record expenses? Yup thats right, their cost to do business has gone up as it their profits but they still make $.08-.11 cents on every sales dollar. That's not a lot of profit in the business world. Microsoft makes $.34 cents for every one of its sales dollars. Nobody goes after them for excessive profits. Hell, even most water utilities make about $.11 cents and water is just as needed a commodity as gas, maybe even more needed. Water is essential to survival gas is not.
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