The pharmacuetical industry has a (avg) profit of 63%. Dozens of other industries are providing as much profit for their investors. So why is the oil indsutry's pissant 9.8% profit such a big deal? Why would anyone invest in a 10% profit company when they can triple their money in dozens of other companies?
Secondly, does anyone realize what a big player China is in the oil (and steel) industry? If private U.S. companies want to pay $50 a barrel for oil to keep our cost down, but the government of China will pay $65 a barrel, then what do you think the oil price will be? Do you really think us trying to take profits from the oil companies will affect China's decision on how much to pay for oil, thus setting a reference cost for the world?
Why don't more people complain about the obscene profits Iran, Saudi Arabia, Venezuala, et.al., make on the sale of their oil or how they are using those profits to support terrorism?
2007-03-11
03:28:54
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3 answers
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asked by
John
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