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I know they're recording-breaking in terms of sheer dollar amounts, but in terms of how profit is measured -- net margin -- oil companies are really no great shakes. Exxon's net profit margin is -- holy cow, I just looked it up -- it's only about 10% and a couple years ago it was 15%. I thought that might happen since gas hasn't been going up as fast as crude oil. It's coming out of their profit margin. But what I was getting to is that, for comparison's sake, Microsoft's profit margin is 28% (and that's down from thirty-something a year or two ago.) Kellogg's has a profit margin about the same as Exxon's and yet I hear nobody screaming for a windfall profits tax on corn flakes. They just need a scapegoat and the major oil companies are big targets, and it's politically incorrect for them to defend themselves.
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