Federal and State Governments make more profit than Big Oil

PrintSmith wrote: Exxon makes a profit of $0.02 per gallon of fuel, the federated government makes a profit of $0.184 per gallon of fuel. Whose profit is obscene again?

Science Chic wrote:

PrintSmith wrote: Exxon makes a profit of $0.02 per gallon of fuel, the federated government makes a profit of $0.184 per gallon of fuel. Whose profit is obscene again?

Do you have a source for this PS?

Ah ha! Found it - it comes from Exxon itself! I'd be inclined to believe this more if it came from an independent financial analyst. Is that what they earn after paying their employees salaries, benefits, infrastructure, overhead, etc or before? Yes, they pay a lot in taxes, and must invest a lot in developing new sources, but they make a boat load too - what's the actual profit?
http://www.dailymarkets.com/economy/201 ... er-gallon/

According to this post on Exxon Mobil’s Perspective Blog , http://www.exxonmobilperspectives.com/2 ... ink-about/ “For every gallon of gasoline, diesel or finished products we manufactured and sold in the United States in the last three months of 2010, we earned a little more than 2 cents per gallon. That’s not a typo. Two cents.

Also according to their Perspectives blog, they make only 8 cents for every dollar of revenue on worldwide sales of their products. You know, if I were them, I'd start shifting my energy production to renewable sources - it'll be a lot more profitable! :thumbsup:

http://www.factcheck.org/askfactcheck/d ... re_in.html
April 11, 2008

Q: Does the government really make more in taxes from the sale of a gallon of gasoline than the oil companies do?
A: Possibly. Both taxes and profits account for a large share, but which is larger depends on too many unknown factors to allow for a clear answer.

http://money.cnn.com/2008/03/13/news/ec ... /index.htm
Who gets rich off $3 gas - who doesn't
The guy running the service station makes just a few cents, while crude oil producers take the biggest chunk.
By Steve Hargreaves, CNNMoney.com staff writer
Last Updated: March 19, 2008:

Okay, this information is completely unsubstantiated, but provides a list from which to start the analysis:
http://jb-williams.com/4-25-06.htm

Based upon a $3.00 gallon of gasoline, the average break-down is as follows.

Gasoline Retailer $.01 cents per gallon
Oil Company $.08 cents per gallon
Refining $.29 cents per gallon
Marketing/Distribution $.32 cents per gallon
Taxes $.59 cents per gallon
Cost of crude $1.71 per gallon (delivered)

Who is gouging who?

What I take away is this: No matter whether the price of a gallon of gas is $2.06 or $3.87, the fed tax is $0.18, period. State taxes vary and can add anywhere from $0.04 to $0.37. The extra profits that the oil producers make is getting put back into increasingly more difficult to extract sources of fuel (although I think this excuse is overplayed as there's currently still enough to easy supply to satisfy the current demand).

So it looks like the ones to be pissed at are the traders.

So it looks like the ones to be pissed at are the traders.