I read somewhere that the Oil Corporations make about 5 cents profit on every gallon of gasoline, while state and federal taxes amount to almost $1.oo per gallon.
Who should be investigated?
In 1st Qtr of 2011 BP had an 8.2% profit (revenues less expenses). Conoco was at 5.1%.
Microsoft was at 31.8% (talk about profiteering), Disney at 12.1%, even the crippled New York times had a profit of 9.2%.
Schumer needs to go to Econ 101 and start going after the really big guys. Mom-and-pops just don’t have the big dollar profits as the box stores just because of volume. It’s the percentage that counts.
I cannot figure out why in the world democrats despise oil and gas producers. They say they are all for prosperity and turn around and attack the very component that is key to our nations wealth.
Abundant, cheap energy.