The U.S. oil and natural gas industry is vital to our nation's energy security and economic growth. So are its earnings. As companies announce quarterly earnings, let's clear up common misconceptions about this issue.
MYTH: Oil and natural gas industry earnings are excessive.
FACT: Average industry earnings are in line with other manufacturing industries--about 7 cents per dollar of sales in the last five years. Earnings reflect the size of these companies and the extent of their operations. They are very large entities, which enables them to invest in new projects, compete globally and provide energy for America.
MYTH: Oil company earnings go to oil company executives.
FACT: Earnings reports are good news for the 9.2 million U.S. workers supported by the industry and for the millions of A... more »