I wouldn't consider it to be low risk. Think about it, all levels of government, up to a R President, is talking about a tax increase to retroactively take that profit. That seems to be a pretty big risk. In addition, they have the risk of weather damage to their refineries, fires, employee insurance etc.
Why would we push their margins below what they can realize with other investments? The average return in the market is 8-10%, they can make 3% in CD's, etc. If we think 9% profit is to much for Exxon, we better be prepared for them to make different investment choices.
We won't have to push anything anywhere, when gasoline prices this economy into a recession the market will take care of the matter itself. My apologies to all, eom has the right to make whatever profit the market will bear. If I don't like it, I can ride a bicycle.
You hit the nail on the head. If Exxon really wanted to make money, they'd convert all their refineries to financial institutions. And with a little extra prodding from Congress, they just might.