Monday, June 23, 2008

Black Billionaires Should Buy Exxon Mobil Gas Stations

Although some people get uneasy when we start taling about 'black' stuff, the fact is that Blacks do not own any part of the energy infrastructure in the United States. Nigerian-born Kase Lawall, with his offshore oil and gas drilling company, is the exception but you know what we mean. Blacks have only been out in the marketplace for about 40 years, so we have some catching up to do. Exxon Mobil just announced that it plans to sell its 2,200 U.S. gas stations. This is a prime opportunity for African Americans to get in the oil business at the retail level. We hope Oprah Winfrey, Robert Johnson, Sheilia Johnson, and Victor MacFarlane are listening.

Exxon Mobil will probably sell the other 10,000 stations that carry Exxon Mobil signs to the distributors that already own and operate those stations. It is projected that the stations will sell for between $500,000 and $2 million. Gas stations clear a few cents profits on each gallon of gas sold. Evidently, the $40 billion from the gasoline stations is not profitable enough for Exxon Mobil when they made $400 billion last year. Regardless, this is an excellent opportunity for a black entrepreneur to get into the oil and gas business. We bet $40 billion is an attractive income figure too.

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