I read today the oil companies say they're not making money?

Question

instead,it goes to the governments via land leases,income taxes and what not. so,who is making any profit from this?

Answer 1

haha... It is a joke for everyone

I just know they are very very rich... I do not why they always said they do not make money.

Answer 2

the Disco Arabs

Answer 3

If i was a stockholder I would expect them to make as much money as possible and at all costs. Since I am not I expect them to sell gas at 25 cents per gallon.

Answer 4

While the total dollars that oil companies make in profits is very large, their profits as percent of their gross revenues is not out of line. Exxon-Mobile, for instance, earned 10% profit on their gross revenues.

10% is a reasonable profit. In fact, it is considered by financial analysts to be decent, neither under earning nor high which would be 15%  or more.

Even Non-Profit organizations are allowed to earn a profit although not a large one.

Answer 5

The truth is that big Oil companies are making money on the front side (OIL) but suffering on the backside (Gasoline, petrolium products).  Hence the closing of gas stations by Exxon and other smaller players.

Overall though they are still making record profits due to the continual rise in the price of Oil.

Answer 6

That is a joke.  The oil companies recently reported the highest profits for any company in the history of the world.

Answer 7

is that why they have reg. over 66 billion dollars so far this year in profits

Answer 8

haha, who buys that bullshit