October 2000

Trends and Resources

HP Impact: Oil industry profits placed ‘in context’

Sensational headlines may blare that oil industry profits have reached unconscionable levels, but the American Petroleum Institute (API) has issued its own statement. API's assessment i..

Weirauch, Wendy, Hydrocarbon Processing Staff

Sensational headlines may blare that oil industry profits have reached unconscionable levels, but the American Petroleum Institute (API) has issued its own statement. API's assessment is geared to consumers to explain "the reasonable increases" the fuels industry has recently experienced. Statistics can be distorted, and news reports claiming profits of 100% can fail to put the raw data in context, fears API. The fuels industry actually has profit margins below those of many industries, API argues, citing data compiled by Business Week. The net income / sales for the fuels industry averaged just 3.6% for the first six

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