Those GREEDY Oil Companies
May 1, 2009
I say that facetiously. Compared to the Wall Street companies earnings, oil companies’ earnings were much less. Here is a report from API:
Here’s a little food for thought for you today. The oil companies’ earnings during the first quarter of 2009 are one-half of the earnings reported by the companies in the Dow Jones Industrial Average (DJIA) – 5.1 cents per dollar of sales for the oil companies, as contrasted with 10.2 cents per dollar of sales for the DJIA. These figures are based on the companies that have reported their first quarter earnings so far. More will report over the next couple of weeks.
We’ve produced a new fact sheet on oil industry earnings. It’s available here on Scribd, where you can download it quite easily.
- Jane Van Ryan
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