Big Oil Isn’t as Profitable as Everyone Thinks
Filed under: Energy, Economy, Exxon Mobil, BP, ConocoPhillips
Americans spend a lot of money on oil — about $632 billion a year. A lot of that money goes to paying the costs of getting the dinosaur juice out of the ground in the first place, including exploring for potential reserves, drilling test wells, drilling production wells, pumping the stuff, and transporting it. More money goes into the costs of refining oil into gasoline, and getting it to the gas stations, which take their own little slice of the pie after we fork over our $4 a gallon at the…
Big Oil Isn’t as Profitable as Everyone Thinks originally appeared on DailyFinance.com on 2012-10-20T06:00:00Z.
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