$this->bbcode_second_pass_quote('', 'W')HAT ABOUT THE OIL COMPANIES?
The second most-profitable American industry, based on the number of categories it has on the list and how high of a percentage they make, is the petroleum and energy business – which controls six out of 43 spots:
http://money.cnn.com/magazines/fortune/ ... s/profits/ Mining, Crude Oil production – 11.5 percent. Oil and Gas Equipment, Services – 10.2 percent. Utilities: Gas and Electric – 8.7 percent. Petroleum Refining –2.1 percent. Pipelines – 1.5 percent. Energy – 0.9 percent.
The oil companies therefore enjoyed 13.95% of all the most profitable categories of American businesses in 2008.
Together, oil and pharmaceuticals occupy 13 out of 43 slots on the Fortune 500 list of the most profitable American industries – or a stunning 30.23 percent of all the money there is to be made.
THE OIL COMPANIES ARE THE MOST PROFITABLE INDIVIDUAL BUSINESSES
Remember – the above figures only tell us how strong of a profit each of these industries is making. If you invested in an industry that was making 20 percent profit per year, you’d be very happy.
This doesn’t actually tell us how much money they are pulling in. If you had a company that cost ten dollars to run, and you made twelve dollars a year, you’d still be making a 20 percent profit.
In order to figure out how much actual money is being made, you have to look at individual businesses.
Here is a link to the Fortune 500 list of the 50 most profitable American businesses in 2010:
http://money.cnn.com/magazines/fortune/ ... s/profits/ The single most profitable American corporation in 2010 was Exxon Mobil -- earning 30 billion, 460 million dollars. Chevron comes in behind AT&T to take third place at 19 billion, 24 million dollars.
ConocoPhillips was #16 at 11 billion, 358 million. Devon Energy and Occidental Petroleum both made 4.5 billion.
Add it all together and you get 69 billion, 842 million dollars in oil profits for 2010 alone – basically 70 billion – and that’s only the oil companies in America’s top 50.