Friday, June 13, 2008 |
16:37 - Profit of doom
http://www.autoblog.com/2008/06/13/exxon-mobil-exiting-gas-station-business/
|
(top) |
But that's unpossible:
With gas prices as high as they are, it might seem hard to believe that some gas companies aren't profitable, but apparently Exxon Mobil isn't doing as well as they might wish. The company just announced that it will be selling off its gas stations for financial reasons. We suspect that the industry keeps itself shrouded in mystery to protect its profit at times, but Exxon Mobil, Chevron and ConocoPhillips, to name a few, have all stated that certain nebulous factors in the supply, demand and refinery process have led to a steep drop in profitability. You know, dozens of billions instead of hundreds. To that end Exxon, for one, is shedding its stations.
Because that's what publicly traded companies do with massive windfall profits. They close retail outlets.
Why, it's all so incomprehensible!
Of course, there might actually be a simpler explanation...
|
|