-----So Exxon Mobil made 40 something billion in profits huh. You may instinctively be outraged. You may look back at last summer, paying 4 and change a gallon, and become sick to your stomach to think "these guys" made 45 b-b-b-billion dollars. I say slow down, lets look deeper.
-----First of all, Exxon is a publicly traded company, which means any Tom, Dick, or Harry can buy in. How many people out there have a 401k or IRA or annuity? Oh, you got one, well lets hope whoever is managing it had some Exxon then. Profit is not a bad thing. If you think they made all that money by jacking up the price, be aware, they don't really set the price of gasoline any more than Dominos sets the price of pizza. It stands to reason that if you refine and sell gas for cost plus a markup of say 10%, then if it all of a sudden costs twice as much to make, and you still mark it up 10%, then your profits double. I admit I'm no economist, but it seems reasonable to me.
-----Now keep this in mind, Exxon Mobil made a "profit" of 45.22 Billion dollars. Do you know what their tax rate is? Almost 50%! Put it this way, With out "Big Oil" you could not afford "Big Government". For more check out this article from CNN.
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