Maybe someone can explain this to me: According the the little sticker on the side of every pump at your local gas station, the poor helpless oil companies are limited to a measly 2% profit on every litre they sell. At $1.30 a litre that works out to be about $0.026 or 3 cents a litre. Now interestingly enough, you'll also notice that 90%, if not more, of the gas stations in your neighborhood offer some sort of discount, ranging from 2.5 cents to 7.5 cents per liter, with some as high as 12.5 cents if you use the company's credit card. So I am trying to figure out, how the profits of the oil companies increase to records levels year after year, quarter after quarter. Not only are they discounting their entire profit (God love 'em, they just want to help) they are actually helping the pay some of the taxes we owe to the government. It just goes to show that what oil companies, their management and their shareholders are actually all that stands between between us and a hydrochloric enema at the pumps. Bravo, Petro-Canada, Exxon, BP, how could we survive without you....
2 comments:
wow, 35% !? That's a lot more than in the US. I just wrote a blog about the relationship oil and gasoline prices (I wrote it because I thought the oil companies were screwing over the public). Please check it out:
http://www.peterdolph.com/2009/07/are-oil-companies-screwing-us-over.html
Following this blog because more people need to get whats really going on. Everybody thinks that the oil compaines are just magicly making money and just make the oil lol.
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