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Saturday, August 2, 2008
Is Big Oil Really Swimming in Profits
Everybody talks about all the money that the top oil companies are making. Yes, that may be true but have you ever seen it broken down as to where that money goes? I saw a graph in the paper the other day. I was shocked to see that the largest share of those profits went back to the stockholders. That isn't all bad because those people are spending money and keeping the economy going. The next biggest share went to exploration and development and we sure need that. This was a graph of the five biggest oil companies and I felt a lot better when I heard about their huge profits. It isn't all going into the pockets of their management at all.
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