[mnehring]

Not to mention the initial wholesale cost is an expense to the oil companies. Many US oil companies do make a profit on upstream wholesale oil by selling it to Europe because the exchange rate of the dollar to the Euro allows for a profit to be made there. If anyone is getting boned, it is Europe (who averages the equivalent of $11/gallon for gas by the way.)

[upsdriver]

I don’t begrudge a single dime the oil companies make. They deserve it. It’s not easy work and there are no guarantees. Wells being drilled in this area are upwards of 5 million dollars a hole, whether they strike oil or not. Government gets their 100% profit take without one bit of risk.