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How Does Exxon Raise Its Gas Price

390 Words2 Pages
In the class, we talked about the potential consequence for Exxon raising its gas price to build higher safety standards. Based on the survey, although people care about oil companies’ safety and ethics, they’re looking to the cheapest gasoline they can get. Thus, raising price to improve safety standard would only let Exxon worse off. Thus, profitability is the key to survive in the oil industry. The same virtue applies to the heavy competitive investment banking industry. Profitability determines whether you can survive in the cruel money game. After Goldman Sachs is told by John Paulson that the U.S. housing market is going to collapse, it definitely should use the information to generate profits because all other firms are probably doing
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