Posted on 03/06/2022 9:52:37 PM PST by SeekAndFind
AAA announced that the U.S. average gas price is now slightly more than $4 per gallon. Gas is at its highest since 2008. But before gas prices took a jump due to the first Green New Deal War, being hosted this year by Ukraine and Russia, there was Bidenflation, supply chain fiascos, COVID-19 lockdowns, and Joe Biden’s turn toward windmills and Chinese solar panels to fuel cars and planes. And because he took America away from making most of its own energy, we suckers in the provinces are staring down the barrel of $7-per-gallon gas.
Even electric car maker and spaceship builder Elon Musk thinks outsourcing our gas needs is a really dumb idea.
Hate to say it, but we need to increase oil & gas output immediately.
Extraordinary times demand extraordinary measures.
— Elon Musk (@elonmusk) March 5, 2022
As night follows day, Democrats eventually will pivot to meaningless hearings and investigations into those darned greedy executives who make too much money on high gas prices! California congressional backbencher John Garamendi has already demanded an investigation. The hue and cry will grow louder at some point. But before you linger your gaze too long on their gaslight, you need to know who’s really making bank on gas.
Sure, oil companies make plenty of money off American gas buyers, but they’re not the greediest bunch out there. It turns out that the greedy executives hoovering up most of the money you spend for a gallon of gas aren’t Stetson-wearing Bubbas in Houston. No, the greediest ones are sitting in statehouses and governors’ mansions all over the country.
Every year the National Tax Foundation updates its list of greedy state governments that skim more money from every gallon of gas than Bubba.
(Excerpt) Read more at pjmedia.com ...
Most of the refiners are owned or part-owned by an oil major, who also own producing assets (oil leases with wells, or an interest in others that do that), they are diversified. Some parts of all that certainly do make a lot on rising oil prices.
Wait until the summer blend arrives.. save your biden stickers for the switch over.
I paid 6.10 in eureka, CA on Thursday, for Diesel.
FJB
Schatz will use this map to pass another gas tax increase in MO, so he can make another fortune in underground construction.
Fuel surcharges.
Here’s a link with an update...
https://www.api.org/oil-and-natural-gas/consumer-information/motor-fuel-taxes/gasoline-tax
Let’s see...Is the 10% to the Big Guy figured net or gross?
Cost of Reg in Benson, AZ
11/03/2020: $1.979 per Gallon
05/07/2020: $4.249 per Gallon
This is at the Loves’ Truckstop.
I do not thing the Royals in Washington have increased their cookie jar taxes in the year and half since the election. But I do know that Dimjo has not only tried to deal a deathblow to the American petroleum industry and succeeded in killing off the American middle class and it looks to me like the American economy. All by himself.
Hello 1930. Welcome back just in time for your centenary
Bflr
Virginia is #20 at 34.40 cents per gallon, which seems mainly to go to fund studies showing that VDOT is the best-run DOT in the country.
Yeah, I have family insiders.
What you say is true: the majors have a diversity of going concerns; some more profitable than others, so some gravy over here offsets losses over there, and ho-hum performance in this, combines with a sliver of green from that...and there’s always the contract terms with distribution; some of which they own, and other they don’t, and there’s the spot market sales. There are many pieces to the picture.
I vividly recall “The Big News” the leftards were crowing about a few years back that Exxon Mobile “paid no taxes” — well, they paid no ADDITIONAL taxes because they had logged a whopping bottom-of-the-balance-sheet enterprise-wide profit of (** fanfare **) less than 9% that year.
woo-hoo
Look, you know, and I know; the same people bitching about “Big Oil” profits turn right around and — without batting an eyelash — pay over 100% markup on a vast array of consumer products every single day. Bought new speakers for your sound system? You likely got socked for between 200 and 300%; they’re about the most marked-up line of products out there, but I don’t hear a roar of condemnation for “Big Audio.” Consumers across the spectrum are paying high double- and even triple-digit profit margins on all manner of products and services all the time. It’s just these other industries aren’t being politicized, vilified, and put under the microscope over at the New York Times. Just to snatch another industry out of the blue — Pepsico logged 13% growth year-on-year at about 10% bottom-line profit, and I don’t hear a sea of railing accusations from “the usual suspects.”
So, it’s REALLY NOT about the magnitude of the actual bottom line profit figure; it’s making political hay, ramming an agenda, targets of opportunity, dirty pool, and — frankly — that there’s just some people who CANNOT get through their day without something to bitch about — they’ve gotta have a target to hate on. And I’ve seen that syndrome up close; you correct a problem that resolves their gripe with one target, they will find another target within 24 hours.
[Prolly ‘cuz their own lives are vying for that slot in their consciousness, and they can’t have that, so they’re desperate to find an EXTERNAL proxy. You know the deal.]
At the day’s end, the entire gripe session about oil company profits just does not rile me the least little bit; it’s a red herring — a shiny object political pols use to get the heat of public condemnation shifted away from them and their villainy. When my State (CA) is taking a $0.67 out of every gallon pumped — about 14% on a pump price of $4.899/ga — it’s obvious to me that the 9% “big oil” will end up with is NOT my primary target, nor is it the one that should be getting ANYONE worked up.
Yep. People can just look all this stuff up these days. All the oil majors are publicly traded so they file 10-K’s and tons of other documents with the SEC. Companies like the oil majors have to file even more with the Department of Energy, EPA, etc. There really is no excuse, all of this is as you say, political or whimsical.
I don’t know what people will be parking there.
Nobody will be able to afford to drive a car, even if they
can get gas.
Remember when Obama said he wanted to “fundamentally change” the country? He wanted to turn us into Europe. Here you are.
That includes stratification of economic and social classes and the elimination of an upwardly mobile middle class.
You are paying for the “convenience” part of the store.
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