9% profit margin is gouging?
One salesman sales 10,000,00. His take home is $1,000.00 (before taxes)
The other sales 100,000.00. His take him is $10,000.00.
There is a big difference in profits there. I know the profit margin is the same. Volume determines how much they make. Why everyone is so upset is because Energy effects not only the demand of Energy, but ALL other markets if the price holds. Therefore, people lose their purchasing power. Thus, you lower your standard of living.
I agree we need to drill in AMWAR, off both coast, and in the States. Furthermore, we need to build more Refineries, Nuclear plants and coal plants. I am OK with alternative sources. Let the market dictate if they come in or nor. However, this will take some in time. In the mean time since demand is so high. We risk the destruction of our economy. For instance, the Airline industries and the Car industries. I do not see these companies folding, but leaving for a better place to do business. So what we end up with is loss of jobs, inflation, and a shrinking economy. Of course OPEC is threatening to switch to the EURO from the dollar since it keeps falling over time. If this happens, and China begins to see our T-Bonds, then we are in big trouble since China owns almost half all the outstanding T-Bonds.