Quote:
Originally Posted by The Unabomber
You are correct, ENCANA is not profitable.......neither is Imperial Oil, they make no money and need to make money any way they can.
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Since when is making money and being profitable a sin? Unless you work for the government or non-profit, or are just plain unemployed, the money you make is paid out by the cash flow that your company takes in. Even if you're in the prior categories you are paid indirectly by the profits of corporations or individuals.
Your angst seems to stem from the simplistic notion that you cringe when you see the headline "Encana's quarterly profit soars to $1.9 Billion." That number looks big and when you pay more at the pump it annoys you. There is context to the number as well considering that Encana actually spends $6 Billion a year on wages, Service contracts, infrastructure for projects, etc. If they weren't cranking out a $1.9 Billion quarterly profit on their capital employed then their shareholders would have their heads. If somehow you wanted to trim that profit level down to a few hundred million a quarter then it would tremendously underperform other companies in which to invest in. BTW feel free to buy oil company stock to insulate you from any losses you experience at the pump.