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  • Exxon Mobil chief deflects blame - He says profit a nickel a gallon or less

    05/27/2004 10:20:30 PM PDT · by NormsRevenge · 17 replies · 334+ views
    HoustonChronicle.com ^ | 5/27/04 | Dan Pillar - Ft Worth Star-Telegram
    DALLAS — Exxon Mobil Chairman Lee Raymond said that no matter how high gasoline prices may be at the pump, oil companies like Exxon take no more than 3 to 5 cents per gallon in profit. "Most of the cost of the price of gasoline at the pump is for taxes and the purchase of crude oil, and we are by far the largest purchaser of crude oil in the world," Raymond said at a news conference after Exxon Mobil's annual meeting Wednesday at the Morton Meyerson Symphony Center. Raymond said that while Exxon Mobil produces about 1 million barrels...