War may be criminal - GOP Sen Smith

[ptabor]

Not so sure the oil companies would agree with that (ask this one, for instance).

This is misleading. Exxon's profit margin has been fairly consistent from 2003 - 2005 (url below) at 8 - 10%. Thus, they have not really profited off the war in iraq. When they release their statements at the end of this year, perhaps a different picture will be painted - I really can't say.

Certainly the stock price has outpaced the DJIA, but this does nothing for exxon itself. The only time a company makes money on its stock is its IPO - after that its the shareholders that rake in the loot. Might I remind you that had you had the foresight to purchase some exxon stock in 2002, you could be raking in the dough.

http://finance.yahoo.com/q/is?s=XOM&annual

 

[Gokul43201]

This is misleading. Exxon's profit margin has been fairly consistent from 2003 - 2005 (url below) at 8 - 10%. Thus, they have not really profited off the war in iraq.

But all three of those years are AFTER the war started. In 2002, their profit was about 5.5%.

Nevertheless, (and I admit I was loose with my wording) the point I'm making is a rebuttal to what seemed like a claim that there has been no monetary benefit to Americans, from the war.

Might I remind you that had you had the foresight to purchase some exxon stock in 2002, you could be raking in the dough.

This is presumptuous, and totally irrelevant to the discussion. Besides, I'm not complaining that Exxon's stock is soaring. I'm merely pointing out there might very easily be lots of people profiting monetarily from the war.

Futo, I never suggested that their profits are excessive, did I?