51% crude oil, 20% refining, 18% taxes, and 11% marketing leaves 0% in profit, which doesn’t really jive with the fact that Exxon did $48.87 billion in profits on $339.25 billion in revenue in 2024, which implies that at least 14% of the cost of the gallon of gas goes to profits.
When you own pretty much the entire manufacturing pipeline, you hide your profit in your early steps and sell at a loss, woe is me, support your billionaires, etc etc
51% crude oil, 20% refining, 18% taxes, and 11% marketing leaves 0% in profit, which doesn’t really jive with the fact that Exxon did $48.87 billion in profits on $339.25 billion in revenue in 2024, which implies that at least 14% of the cost of the gallon of gas goes to profits.
When you own pretty much the entire manufacturing pipeline, you hide your profit in your early steps and sell at a loss, woe is me, support your billionaires, etc etc