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loadedliberal wrote:The point is that they are making Billions in profits while also receiving hundreds of millions in tax breaks and subsidies,

That "point" wasn't mentioned by the first poster who brought up Exxon, nor by the MSM over the last few years. I agree the subsidies and tax breaks need to go away, but they have been accused of "price gouging" and ripping off the public, and their "profits" used as the source of "proof.". That was the part I was addressing. BTW, the oil companies are not the only ones raking in huge profits getting gov't subsidies and tax breaks.

The oil companies are simply the whipping boy for the gov't (and the MSM) to blame for high gas prices to keep the "masses" angry at the wrong people. Of course Exxon's profits have gone up over the years, but not their "percent of profit." How in the heck can you meet the ever increasing worldwide demand for oil, with emerging markets like China and India, without raking in more money?? Simply put, if you owned a widget shop and sold 1000 widgets in a year at a net 10% profit, and made $100,000 net profit, and the next year sold 2000 widgets at 10% net profit, you'd make $200,000 net profit or the same 10%. It doesn't mean you raised your prices one bit, but your gross revenue doubled! Exxon and the other oil companies are simply selling much more product than in the past due to worldwide demand, hence their net profit total keeps going up from sales. That's coupled with the increasing price of oil, which Exxon doesn't set. In fact Exxon's 9.2% profit is less than the industry average, and less than the S&P500 companies averages. But due to huge sales and a very high GROSS, they are the easiest target to blame for high gas prices. It takes a huge amount of money to explore and drill for oil. In the early nineties, when oil was $6 a barrel, I don't recall anyone weeping for Exxon and the other oil companies.