Do you REALLY believe they are making only 10% profit when their total cost is probably only about a buck? Remember, when gas was so cheap back in '99? They were STILL making a profit when gas was sellinbg for 80 cents a gallon and taxes were half of that!
Do you know how to read financial statements? They are there in the public, available for anyone to see.
Huh? Total cost of what? A gallon of gas? You're certainly not speaking about oil anymore.
Remember, when gas was so cheap back in '99? They were STILL making a profit when gas was sellinbg for 80 cents a gallon and taxes were half of that!
Again, you're failing to understand that crude oil is not equivalent to gasoline. Crude oil prices are but one component of the price you pay at the pump. While there are pressures on oil supply, lack of refining capacity and inefficient requirements to formulate 25+ boutique blends play at least as large a role in current gas prices.
$1.60 per gallon is due to the cost of the current oil price.
If the oil company is making $.07 per gallon of gas and the state and federal government is taking $.70 a gallon, where should the relief, if any come from?
Do you REALLY believe they are making only 10% profit when their total cost is probably only about a buck? Remember, when gas was so cheap back in '99? They were STILL making a profit when gas was sellinbg for 80 cents a gallon and taxes were half of that!
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You know, I lived in the Oil patch in '99 and LOTS of my neighbors were laid off from Exxon and Shell and Texaco. I lost 15 thousand on my house because I had to sell at the same time they did. The oil companies were hurting then, they weren't making the big profits you suggest, or else they wouldn't have been laying all those people off.
You need to do more homework. Commodities go through cycles. Oil companies have lean years and it is really shortsighted to go ballistic when there is a supply pinch and also international risk from Iran.
Lets focus on how our government can increase supply, like allowing drilling domestically. And how they can increase alternatives like nuclear.
You further demonstrate that you know nothing about the industry and their costs. You are off the planet with your assumptions. They are dead wrong, and irrefutable proof that strong opinions can be based on total ignorance.
Ever hear of the profit motive? They are in business to make a profit. That's why they are there. What gives you the right to decide what is a fair profit for someone else's business? Your right is to buy their product - or not - to express your pleasure/displeasure at the way they do business.
I lived through the Carter Oil Embargo of the 70s. Given the choice of having no fuel at prices set by the government and lines around the block EVERY DAY or having plenty of fuel at prices set by the marketplace, I'll take the latter.
The government can't keep the Post Office, Amtrak or Veterans Hospitals afloat and you think their taking control of oil companies will help?