Big Oil and gas prices.

[hdbc]

With all the bashing of Big Oil by the media and Libs, a question. How come gas stations don't post the price of their gas with a breakdown of the taxes that go into the final price? I seem to remember the price being shown this way. Is it illegal for station owners to post the taxes? Instead of just focusing on the oil company's wind-fall profits, maybe the public should be allowed to see the confiscatory taxes we are paying for every gallon of gas.

[Ken522]

They do in some states - I did see a breakdown of taxes posted on the pumps when I was filling up off I70 in Kansas, but that was the only place I ever saw it. It’s up to the station owner.

[mnehring]

I doubt it is illegal, I see it often.
My bet is that gas station owners are tired of people trying to get out of the taxes.. I remember in High School I worked at a store, and every day, we had people trying to say they were xx and so they don't have to pay taxes.. of course, none of them had a tax exempt certificate..

[Moby Grape]

Exxon profit per gallon = .09 cents
Government profit per gallon = .42 cents

[hdbc]

Exactly!

[Constitution Day]

North Carolina stations have stickers on most dispensers (what you would call a “pump”).
These are provided by the North Carolina Petroleum Marketers Association. They show a map of the Southeast and the fact that NC taxes are the highest is highlighted.

We pay the following in State Gas Taxes (per gallon):
North Carolina: 30.15 cents per gallon
South Carolina: 16 cents per gallon
Georgia: 7.5 cents per gallon
Virginia: 17.5 cents per gallon

Currently, we are at the maximum gas tax allowed by STATE LAW!

I’m sure the Democrat-controlled legislature would raise it more here if they could.

[thackney]

Don’t just count the taxes added at the local retail pump.

Oil companies pay taxes along every step of the way. At the well, at the pipeline, at the refinery, at the distributor as well as the pump. It all adds up and it is all part of the price we pay. Some examples from last year:

ExxonMobil 2007
Revenue $404.6 Billion
Profit $40.6 Billion (10.0%)
Taxes $102.5 Billion (25.3%)

Sales-Based taxes $31.728B
Other taxes and duties $40.953B
Income taxes $29.864B

2007 Financial & Operating Review
http://www.exxonmobil.com/corporate/files/news_pub_fo_2007.pdf
Page 16

- - - - - - - - -

ConocoPhillips 2007
Revenue $194.5 Billion
Profit $11.9 Billion (6.1%)
Taxes $30.4 Billion (15.6%)

Taxes other than income taxes $18.990B
Income taxes $11.891B

2007 Annual Report
http://www.conocophillips.com/NR/rdonlyres/3838234F-F20C-4BCE-AE8D-78DE29D67455/0/07RevisedARfinal.pdf
Page 60

- - - - - - - - -

Chevron 2007
Revenue $220.9 Billion
Profit $18.7 Billion (8.5%)
Taxes $35.7 Billion (16.2%)

Taxes other than income taxes $22.266B
Income taxes $13.479B

2007 Annual Report Supplement
http://media.corporate-ir.net/media_files/irol/13/130102/reports/CVX_ARsupp07.pdf
Page 3

[thackney]

Some of your numbers are off. Georgia pays more than that for example.

http://www.georgiagasprices.com/tax_info.aspx

[Constitution Day]

Well, I got those off this site: http://www.stopthegastaxhike.com

Looking at it now, I think the site is a couple years out of date.

[Constitution Day]

By the way:

I’m kind of embarrassed I didn’t look for more accurate numbers. I work for a petroleum equipment manufacturer, and I have an up-to-date site bookmarked.

[thackney]

I believe Georgia hasn’t had that low of taxes in a decade, or several decades. Alaska has been the lowest at 8¢ for a long time. I doubt that site was ever correct.

[Constitution Day]

I will have to do some looking into that site. The man who started it is running for North Carolina governor.

[Ararat]

There is such incredible ignorance out there. Oil companies do not set the wholesale prices of oil, nor gas. It’s set by the traders up in Chicago.

[Constitution Day]

I’m well aware of that, but most people aren’t.