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Oil Industry

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The Oil Industry: "Why Companies Are Not Getting a Fair Shake"

Within the last two years, the oil industry has increased the price of oil causing gas prices to rise to $3.00 a gallon today. It was only a few years ago that the price of gas was $1.00 a gallon. There have been many complaints against the oil industry on price gauging and monopolizing the industry. Oil companies are reaching sales up to $100 billion and they are seeing profits in the $10 million range. These are the facts that we receive from the media and the government to portray a negative image on the oil industry. The oil industry does not seem to be getting their fair shake and peoples perception from the media and government reaction have clouded the statements issued by the oil industry.
Oil industry profits and taxes
The oil industry is still making .1% below the national average profit margin. One other item to consider is the cyclical nature in the oil industry. The increase in profit today is what helps the companies keep their heads above water in preparation for a future drastic decreasing pe...

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...aBGNUdjfCZVU&refer=columnist_hassett "How Not to Help the Hurricane Regions – Tax Oil: Kevin Hassett" by Kevin Hassett "Inherit the Windfall" by Shikha Dalmia "In Defense of High Prices and Profits" by Russell Roberts "Profits and High Prices: More Economic Nonsense" by William Anderson "In Defense of Oil Companies' Profits" by Kirk Lennon

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