Who's making money on energy?

Don’t have a lot of time, but want to just clarify a few things that have been in the “lamestream” news lately, and largely twisted and misinterpreted to make the Comrade and the merry Marxists look like they have a useful point. Which they really don’t have.

The media reports XXX billions of dollars of “profits” for the oil companies. Hey, you dopes! Please check your grammar and word usage, and while you’re at it, you might learn how to read a quarterly report. There is a huge difference between “profits” and “revenue.” “Revenue” is the total amount of money coming into an organization for its goods and services. “Profit” is what’s left over after they pay salaries, contractors, equipment costs, administrative costs. taxes, loan principle and interest, capital investment for things like exploration and maintenance, leases, legal fees, employee benefits and pensions, etc. 

More specifically, Exxon made about $9 billion profits on revenue of $383 billion, which is a little less than 2.5% profit. Not all that impressive, really. Looks like a lot when it’s in big pile, that’s all. And day to day, it’s not in one big pile. 

Radio show host Mark Levin broke this down for the price of a gallon of gas. He says oil companies make about 2 cents (as in two quasi-copper pennies) of profit on every gallon of gasoline they sell. Compare this to the state, federal, and local taxes of at least 10 cents  and usually much more that these government agencies collect on every gallon of gas that’s sold. And the government doesn’t have any production or sales expenses connected to this, they just skim their “revenues” off the top… excluding any likely bribes, pay-offs, pay-backs, political donations, give-my-reprobate-nephew-a-useless-high-paying-job situations, etc. that they don’t report. So who’s making money on energy?

Additionally, a business reporter noted today on TV that the oil companies on average pay $82 MIILION PER DAY IN TAXES TO THE FEDS. Versus General Electric Corp., which pays nothing.

I repeat: who’s making money on energy?

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