Blog Post from American Petroleum Institute
What Goes Up...
May 1, 2009
Written by: Jane VanRyan
...must come down. Such is the case with the oil and natural gas industry's first quarter earnings for 2009. Based on the reports issued publicly by oil companies to date (May 1), their earnings average 5.1 cents per dollar of sales. The Dow Jones Industrial Average (DJIA) companies so far are reporting an average of 10.2 cents per dollar of sales. This means the DJIA earnings were twice that of the oil companies in the first quarter.
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