It is not the shipping and refining making most of our gasoline price increase. It is the crude oil driving the cost. The same crude oil we are not allowed to produce from ANWR, Eastern Gulf of Mexico, Offshore Western Coast and most of our OCS.
Posted on 06/16/2008 5:20:51 AM PDT by Ooh-Ah
Yeah, but at $135/barrel of crude, it cost $3.21 per GALLON of raw material (42 gallons in a barrel), before it even gets to the refinery.
It's not total profit, it's profit margin. For 2006 alone, Exxon Mobil paid 27 billion in US Federal income tax. For that same year, the bottom 50% of all taxpayers in the US paid 26.5 billion in US Federal income tax. Total taxes for the year paid by Exxon Mobil were around $107 billion.
I have read many times that Exxon's profit per gallon is around 8.5 to 9 cents per gallon. But there is not a state in this country where you'll pay less than 20 cents per gallon in combined federal and state taxes. Who is really to blame?
Yes oil companies are doing well. But look at it this way. The US is estimated to have 300 million people in it. If even only 1/3 of those drive, that is 100 million people driving, 40 billion in profits for the year is 400 dollars per driving person per year. That is $33.33 a month. I realize this is a simple equation, and doesn't reflect actual profits per driver, because that profit comes from a lot more than just retail gasoline sales. We have diesel, jet fuel, heating fuel, plastics and a bunch of other products that are also made from this barrel. So that $33.33 per month per driver is reduced further.
Pelosi can’t be trusted. She lied to us in ‘06 to gain power, promising a common sense plan to bring down gas prices.
It was a ruse. Spread the word. Their obvious plan was to create scarcity and impose controls and rationing.
Just another ploy to lock the common man into economic serfdom and government dependency.
It is not the shipping and refining making most of our gasoline price increase. It is the crude oil driving the cost. The same crude oil we are not allowed to produce from ANWR, Eastern Gulf of Mexico, Offshore Western Coast and most of our OCS.
Yeah, I feel so good that I am saving caribou while paying $4.00/gallon...
It’s a good thing we didnt drill for oil anywhere on the east coast or Walter Crokites view would be spoiled.
Or the coast of California in case they had to look at an oil rig...
or the eastern gulf of Mexico, or ANWR, or so many places...
We are fools to continue to tolerate the environmental extremists as they actively try to bring down our country.
WAKE UP PEOPLE
“I get sick to my stomach evertime I hear a DEMOCRAT say, “WE can’t DRILL our way OUT of this.” Anybody else?”
Has anybody ever heard an explanation from the Dems of why this is so?
Why don’t the Republicans ask that?
And why doesn’t ANYBODY call the Dems about their “fact” that gas would only go down a penny if drilling were to be done in ANWR? Where did this “fact” come from?
Do the Republicans WANT to lose in 2008?
Second, check out the benefits and the retirement program!
No Social Security for these guys.
Most of the Congress were millionaires when they ran for office. Money begets money.
But you still have not shown me even one name of someone in Congress who is getting perks from an oil company. For all I know, any perks they are getting (aside from the generous package they have voted themselves from our pockets) came from the chicken pluckers union.
#1: They want higher gas prices. My dad just confirmed this yesterday.
Bump, BTTT, as a bookmark.
Probably part of a deal with Riyady, who was involved with the Lippo Group who (iirc) controlled one of the two other similar coal deposits in the world.
The other?
In Kosovo...
where the dog got wagged.
Bump
U.S. Oil companies own only about 3% of world oil reserves.
Saudi Arabi, the government of Saudi Arabia, owns 33% of world oil reserves. So if you want to blame anyone blame the non-productive government owned oil companies in the Middle East who even with some private contractors still cannot produce enough oil to keep up with demand.
In addition U.S. oil companies pay more in taxes that they earn in profits. The profit they earn is only at most 10% of sales.
You are blaming U.S. oil companies without proof or knowledge of the facts.
Yes, I hear the liberal media and liberals/Socialist/Democrats and Michael Savage blaming the oil companies, saying the oil companies have paid off the politicians. Liberals do this because they are Socialists or Communists, whatever you want to call these Marxists.Why do you do the same?If that is so then show the proof. Give names like another Freeper asked.
If the oil companies controlled politicians then why are the private companies taxed and regulated so much and restricted from drilling in so many places like ANWR, Off the coasts, In Montana and North Dakota etc.?
U.S. private industry is the only thing in the world that can produce enough energy to keep up with demand. But government has to be shrunken and Democrats and government have to get out of the way of private energy companies so that they can drill for oil, build coal power plants, coal to oil, etc.
Democrats have restricted supply by creating environmental laws,government regulations, and high taxes that don’t allow companies to drill for oil profitably or not at all in ANWR, North Dakota , Off the coasts etc.
In addition Democrats have restricted coal production. The U.S. has 600 years of coal , the most in the world. Coal can be liquified and gasified into oil and gasoline. But Democrats/liberals will eventually ban all coal and oil production because they say that these fossil fuels are destroying the planet with global warming. Global warming is hoax
Also Democrats have not allowed refineries to be built in 30 years, nuclear power plants, coal to oil, oil shale ( 1 trillion barrels of oil in Colorado) etc.
Democrats’ goal is to destroy capitalism. As capitalism goes so will our economy and so will our freedom.
Global warming is not real so it will not destroy our civilization. Democrats/liberals/Socialists will destroy our civilization because they are killing the engine that drives the Economy , Capitalism (private industry). The run up in gas prices is just the first sign that Democrats are succeeding in destroying the economy and with it our civilization and our freedom.
Democrats also want to increase the size and power of government and they use scare tactics and this global warming hoax to do it.
The liberal mainstream media is the main force brainwashing the public into believing in this hoax of global warming.
Government has to be shrunken and not grown. The government is taking away investment capital from the productive private sector and the government is taking away our freedoms and the freedom of businesses and of the economy.
by Nowhere Man (v2.2) (5-27-2008):
Short term solutions :
1. Repeal all or most of the Federal and State gas taxes on fuel.
2. No designer fuels, screw the EPA, only one type of fuel although the oil companies can still use additives like detergents and so on if they wish.
3. End ethanol subsidies the way it is now. Ethanol “eats” into our food supply. Corn is for eating. I know there are ways to get it from waste products, that will continue.
4. Biodiesel, good idea but let private people and industry work on it.
Long term:
1. Flat tax on all oil (really all corporations) of 10% of income.
2. Drill ANWAR, offshore, through the head of a Caribou, wherever. (3)
2a. Stop those dang Cubans and Red Chinese from slant drilling off of Florida, they are stealing our oil. Use military force if necessary.
3. Build more clean coal and atomic power plants. Solar and wind power are OK if you want to live off the grid but for large applications they fall short.
4. Build more refineries.
5. Develop oil shale and sands.
6. Charge Mexico 2 barrels of oil per illegal here per day. (Michael Savage is right)
7. Charge Iraq for saving them, maybe 10% of their output, don’t want to be too punitive yet we should get something.
8. Use coal to make fuels, if the Weimar Republic and the Nazis could do it, why can’t we?
Longer term borderline Star Trek solutions:
1. Let car companies make fuel celled vehicles that use current fuels more efficiently, hybrids, and so on, let the free market decide.
1a. The hydrogen economy is more of a bust and uses more energy than it saves, it will not work.
2. Work on atomic fusion, although it has “always been 30 years away.”
Appendix
1. Oil, coal and fossil fuels are the only easy and more economical way to provide energy for our civilization. Although we should research into other means like fusion, fuel cells and the like, but the payoff for these “Star Trek” technologies is years away so our current system, right now is the only viable alternative. Rush Limbaugh is correct, “oil is the fuel for freedom” (and just about anything else)
2. Taxing windfall profits of the oil companies is not the answer. I don’t see them as evil or good, they have a job to do, provide fuel for our society. If we tax them more, it will slow down exploration for more oil and they will just pass the cost onto us.
3. To the environmentalists out there, I’m not trying to be mean or nasty, but it is a fact of life that our society and world mainly runs on oil and coal. We need to tap the oil we have right now, we have little or no choice. We can use these fuels more efficiently and cleaner than we had in the past.
good post
Yes, I plan on being one of those “thieves” that the (Cli)Che Guevera worshipers talk about - you know, people who make a profit in business.
(Did you see the latest zotted Marxist post from some punk repeating the “profit is theft” mantra?)
Those are some good solutions.
I would add:
1. Remove all government, federal, state and local taxes on oil and energy companies that make it unprofitable to drill in the U.S. in places like North Dakota where there is 500 billion barrels of oil, sweet crude (at least 70 years of oil).
2. Repeal all Environmental laws and government regulations on energy companies and annihilate the EPA.
3.Open all federal lands and other lands including the coal that Clinton locked up in Utah, Oil shale in Colorado, coasts, ANWR, to private energy companies.
4. Remove all restrictions on drilling, building of refineries, coal to oil liquefaction, nuclear power plants etc.
5. Ban the Democrat party, environmental groups, and unions as they are hazardous to the economy.
Because you have the best access to inside information and there are no restrictions on private investment. Many wonder how the Clinton’s went from $2 M in total assets after Arkansas to $100 M now. Writing books and guest speaking do not create $98 M in wealth. Every politician elected into office (including family & friends) should not be able to invest in energy or food or defense when election and two years prior to leaving office. Then you would see true free markets in energy and food. Until then, enjoy the fleecing :(
7 Ways McCain Can Use Energy to Beat Obama
US News | June 16, 2008 | James Pethokoukis
Posted on 06/16/2008 2:47:20 PM PDT by Bobkk47
http://www.freerepublic.com/focus/f-news/2031955/posts
Inhofe: Dems Running on Empty - Oped in Human Events
Human Events | June 16, 2008 | Senator James Inhofe
Posted on 06/16/2008 9:58:26 AM PDT by EPW Comm Team
http://www.freerepublic.com/focus/f-news/2031837/posts
DCCC Chair Van Hollen Defends Not Drilling in ANWR on Misleading Claims
businessandmedia.org | June 16, 2008 | Jeff Poor
Posted on 06/16/2008 10:01:03 AM PDT by Rufus2007
http://www.freerepublic.com/focus/f-news/2031838/posts
ANWR: “...one of the bleakest, most remote places
..where drilling would have less impact ...”
The Virginian | 6/15/2008 | Moneyrunner
Posted on 06/15/2008 8:44:42 AM PDT by moneyrunner
http://www.freerepublic.com/focus/f-bloggers/2031434/posts
Fuel costs threaten to bankrupt airlines
Crain’s New York
Posted on 06/16/2008 6:19:08 AM PDT by chessplayer
http://www.freerepublic.com/focus/f-news/2031737/posts
Congresswoman pushing for $2.00/gal. gasoline
St. Paull Pioneer Press | June 16, 2008 | From The Deer Stand
Posted on 06/16/2008 3:56:35 PM PDT by From The Deer Stand
http://www.freerepublic.com/focus/f-news/2031990/posts
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