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Originally Posted by xoxoxoBruce
Profits/losses are reported quarterly, but they are also reported yearly, and for longer time spans. You have to consider what your hearing. Is that what tw is denying?
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Annual profits from Exxon have been spectaculor. It's president makes no apologies while claiming that Exxon is a particularly well run company. For example, companies that operate refineries don't have very good annual profits.
So we have a few companies with massive annual profits. We have many others that only have good profits in some quarters. And then when we sum together all profits over the decades, the oil industry has only been typical of other American industries.
Exxon’s spectacular profits. Other companies with suddenly profitable quarters. Does that mean all oil companies are gouging America? No. That means perspective has been distorted by only hearing the headlines rather than look at the entire industry – that is no where near that rich.