Oil Companies are being demonized by many who do not understand economics, including president Obama. This last quarter Oil companies did well posting huge profits but thier profit margins are still substantially lower than many other industries. Most Oil Companies profit margins are between 6 and 10% with an Oil industry average around 8.3%. Compare this to Pharmaceuticals at 19% and Electronics as high as 44%. The truth is Oil companies are not ripping us off. The companies who manufacture your television are. So before you go off demonizing big oil do a little research.
Electronics industry rankings for the first quarter of 2011
Diversified Electronics Industry Gross Profit Margin Rankings
For comparison here is Oil industry profit margin rankings for the first quarter of 2011
Major Integrated Oil & Gas Industry Profit Margin Rankings
Here is an example. Out of 4159 companies oil giant Royal Dutch Shell is ranked 1691 with a profit margin of 6.74%. So are the 1690 companies who's profit margins are higher than Shell evil too? just asking......SgtRock
Here is the ranking of 4159 companies by profit margin.
Profit Margin Rankings