Federal and State Governments make more profit than Big Oil

14 May 2011 11:37 #11 by Rick
It still amazes me that the whiners in Congress still can't figure out why gas prices are so high. Or they really aren't that stupid and just using this for political points to make their idiot base happy.

The left is angry because they are now being judged by the content of their character and not by the color of their skin.

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14 May 2011 13:26 #12 by Rockdoc
I'd wager the later being true.... then again... it;s PC to slam and blame BIG oil for whatever woes exists. After all if no oil production ever ocurred, we wouldn't be oil dependent or using cars that burn oil.

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14 May 2011 13:56 #13 by PrintSmith

Vice Lord 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?


Profit? Learn the definition of the word sh**forbrains...Do you "guys" think roads build themselves, for free?

The building and maintenance of the transportation infrastructure is the investment that the government makes using the profit it has realized from the sale of the fuel VL. The government has no investment in the production of the fuel, so every penny they realize from its sale is profit. What they choose to do with that profit is up to Congress, but there is no arguing that every penny of revenue the government realizes from the sale of fuel is profit.

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14 May 2011 14:36 #14 by Rockdoc

PrintSmith wrote:

Vice Lord 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?


Profit? Learn the definition of the word sh**forbrains...Do you "guys" think roads build themselves, for free?

The building and maintenance of the transportation infrastructure is the investment that the government makes using the profit it has realized from the sale of the fuel VL. The government has no investment in the production of the fuel, so every penny they realize from its sale is profit. What they choose to do with that profit is up to Congress, but there is no arguing that every penny of revenue the government realizes from the sale of fuel is profit.


Rather commendable self restraint given the response. Congratulations.

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14 May 2011 14:43 #15 by Rick
That's what I admire about PS, always a cool well thought out response even when answering the most ignorant and abusive rants from a half baked nutjob. Wish I had that kind of patience.

The left is angry because they are now being judged by the content of their character and not by the color of their skin.

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14 May 2011 15:11 #16 by Rockdoc

CriticalBill wrote: That's what I admire about PS, always a cool well thought out response even when answering the most ignorant and abusive rants from a half baked nutjob. Wish I had that kind of patience.

:yeahthat:

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14 May 2011 15:37 #17 by PrintSmith
It wasn't something I was blessed with, it was instilled in me (usually by the application of a hand against my backside) by my parents when I was a lad. I might add that I earned each and every application in hindsight, though I might have felt otherwise at that point in time.

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16 May 2011 11:25 #18 by Blazer Bob
My complements. You are the only non conservative to post to this thread. Double points for not responding with pre packaged talking points.


Science Chic wrote:

PrintSmith wrote: Exxon makes a profit of $0.02 per gallon of fuel, the federated government ymakes 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.

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16 May 2011 12:22 #19 by FredHayek

Vice Lord wrote: Nationilize the oil companies...Moving around, like my kids Healthcare is not something other people should make a profit on..Especially when we just spent a couple trillion of my tax dollars in Iraq. Thats my oil!

Nationalize Now

http://www.google.com/#hl=en&rlz=1W1ADF ... 334bd74320

END OF SUBJECT


So VL & Trump agree on something? He wants to take Arab oil too.

Thomas Sowell: There are no solutions, just trade-offs.

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16 May 2011 23:53 #20 by ScienceChic

neptunechimney wrote: My complements. You are the only non conservative to post to this thread. Double points for not responding with pre packaged talking points.

Thanks - I'm here to serve! :) Actually, I'm glad you noticed that they weren't "pre-packaged talking points", as you put it; I'm happy when everyone brings up viewpoints that I hadn't considered before, as it expands my horizons, so I just try to repay the favor in kind!

As for being the only non-conservative to post on this thread, I don't think that's a problem at all. There are many threads in which archer or LJ jump right in so I don't feel that my input is necessary - they are quite capable of holding their own - so I often decline to post. Likewise, I'm guessing that they feel the same when they see me jump in a thread like this (especially since energy policy is a favorite study of mine!), and don't feel the need to add their viewpoint as well (and I appreciate the unspoken vote of confidence in my competence to hold my own, albeit young and not-yet-all-experienced-and-wise, viewpoints, or maybe they don't care for the topic either, who knows?) . If you're curious as to their opinions individually, you can always PM them and ask; or, was it more of an observation on your part? Despite the length of some of my posts, I kind of follow the general idea of the quotes below, and had the impression, perhaps erroneously, perhaps not, that many of my fellow posters did as well:

“When words are scarce they are seldom spent in vain” - William Shakespeare

“Listen to many, speak to a few.” - William Shakespeare

Hence, I only have 2,000 some odd posts, rather than 5,000+ (reduced frequency = increased quality!). Discussing science does not lend itself well to succint-ness, nor does citing evidence to back your opinions, facts, and/or statements. Luckily for y'all, I haven't the time I used to have and there are only so many nights I can stay up until 3am researching and posting my fun long stuff! :biggrin: Speaking of, last night was one of those so I need to hit the hay - got a busy day tomorrow. :wave:

"Now, more than ever, the illusions of division threaten our very existence. We all know the truth: more connects us than separates us. But in times of crisis the wise build bridges, while the foolish build barriers. We must find a way to look after one another as if we were one single tribe.” -King T'Challa, Black Panther

The truth is incontrovertible. Malice may attack it. ignorance may deride it, but in the end, there it is. ~Winston Churchill

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