I'm currently in Australia on extended vacation and yesterday unleaded regular was A$1.22/ltr, which works out to US$4.25/gal. I just checked GasBuddy and the US average today is $2.78/gal. That's a 53% premium. So what are you cry babies complaining about? You want even higher prices go to the UK or northern Europe. The energy business is a volume business with the margins less than 10%. Check Apple and see what their margins are, still unhappy with the oil companies. No one is asking anyone to feel sorry for the oil companies, but NO OIL company has asked for any handout or assistance from Uncle Obama. It's their business and they have to handle the situation that is best for the hundreds of thousands of shareholders, pension plans, widows and orphans who have oil stocks in their portfolios for their investments and retirement needs, myself included. Oil companies are not owned by a bunch of oily individuals like the media and Congress likes to make out. They do a job not many guys on this site would even consider (anyone for offshore work in Nigeria, or Chad, working in hot dangerous conditions, both work and personal). Unless you have walked in their moccasins perhaps you should gather the REAL facts and not parrot the nonsensical stuff you hear from the main stream media and Congress.

 

great posts from my texas buddies.

 

beer and brewing companies make 25% profit margins, wheres the outrage on that. 2.5x larger than oil companies

 

Did oil lobbyists come in here to post? I didn't know we had to pick and chose what to talk/be "enraged about". How about all of the above?

Don't defend 10% margins, clearly they are happy with them or they would move on to another business.

Just 2/3 years ago we said we need MORE refineries and how we haven't added any in decades. Now its close them? As if oil can't/won't spike up again?