On profits and monopolies

Tony Snow from Fox News on last Friday’s (October 28) Real Time with Bill Maher, makes the point that Exxon’s $10 billion quarterly profit, while a PR problem, isn’t really that spectacular, by referring to—Microsoft.

Apart from Snow being factually wrong (Exxon $9.9 billion, Microsoft $3.14 billion, as helpfully pointed out by John Sinteur), Microsoft is also a convicted monopolist!

So I guess he inadvertently makes a pretty good case that competition isn’t quite working over in oil land.


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