That “magical” $3,600 in Tax Savings, even if it was true, would disappear really fast considering the amount of miles our Family drives every year.
I was standing there calculating the Federal Gas Tax, State Gas Tax and State Sales Tax I was paying and I figured it comes out to about $1.00 per gallon. Never mind the hidden Taxes being paid to drill, refine, store and transport the product to market.
The last study I read reported that, for every $1.00 of gasoline, “big oil” makes app. .08 cents profit. A large percentage goes to paying for R&D, production, delivery, marketing, etc. (paid by the consumer, of course). Meanwhile, .30-.40 cents of every dollar spent on gasoline goes to state and federal taxes. This breakdown, of course, depends upon the state and the region.
And these leftists love to complain about the ‘gazillions’ of dollars of profit that ‘big oil’ is making, how they ‘gouge’ the people at the pumps.