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Originally Posted by SSbaby
I dare say you are incorrect in your statement there. Exxon attributed their record $40B profit last year, partly to high oil prices.
If pressed, I will find the release to prove my point.
Anyway, oil companies make what they make. They just pass the wholesale cost on to the consumer. Their 'margins' will always guarantee a profit under just about any circumstance.
What I don't understand is that governments all over the world are making more revenue... in other words, our federal govt is making almost twice the money that they did 18 months ago just from fuel excise alone... yet they see fit to introduce additional (carbon) taxes. Go figure!
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Spot on about the govenment revenue. I personally dont care about the petrol prices but I do care that we are paying way more tax and our hospitals are full, education costs too much and public transport is a joke. The higher petrol prices at least get people to think before just wasting petrol to drive to the local milk bar.