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Thursday, July 31, 2008

Oil profits riddle

Ok so we all know by now that crude oil and gas prices are both very high. I think most people have also heard that American's are driving a lot less as a result. So if people are buying less gas then how are oil companies continuing to make record profits?

While overall production dropped 8 percent the major oil companies profits rose between 13 and 33 percent for each of the major companies. Producing less, selling less, making more. Well it's good to know that their profit margins aren't hurting.

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