| Topic: |
Politics > Politics-USA |
| User: |
"" |
| Date: |
21 May 2007 02:07:47 AM |
| Object: |
OIL COMPANY PROFITS **TINY** COMPARED TO GOV'T OIL PROFITS!! |
Yup.........After all the WHINING about Gas Prices and Oil Company
Profits, Oil Companies only make 7 to 9 cents per gallon Profit on
Gasoline..........The Government Sucks Up an Average of 42 CENTS PER
GALLON in Taxes..........It sure looks like the Government is Making
Out Like A BANDIT Here.........You can Multiply Whatever Profits the
Oil Companies make by FIVE and get the Amount the Government STEALS
From America in the Form Of Taxes.......Donchaknow............
http://www.energy.ca.gov/gasoline/statistics/gas_taxes_by_state_2002.html
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| User: "Art Clemons" |
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| Title: Re: OIL COMPANY PROFITS **TINY** COMPARED TO GOV'T OIL PROFITS!! |
21 May 2007 09:42:11 AM |
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wrote:
he Government Sucks Up an Average of 42 CENTS PER
GALLON in Taxes.....
Aren't you combining state and federal taxes on fuel? Aren't you also
ignoring that the 9 cents per gallon claim is based on the profit the oil
companies make post refining, ignoring the profits made on oil before it's
refined. Tell me how Exxon-Mobil could have made the profits it bragged
about if it merely made 9 cents per gallon of fuel whether discussing
diesel or gasoline.
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| User: "Bert Hyman" |
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| Title: Re: OIL COMPANY PROFITS **TINY** COMPARED TO GOV'T OIL PROFITS!! |
21 May 2007 09:46:29 AM |
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In news:z7idnQJDv5ZeMszbnZ2dnUVZ_hGdnZ2d@comcast.com Art Clemons
<artclemons@aolSPAM.com> wrote:
Tell me how Exxon-Mobil could have made the profits it bragged
about if it merely made 9 cents per gallon of fuel whether discussing
diesel or gasoline.
Maybe you should look into how much gas, oil and other products that
company actually sells in a year.
Then, do the math.
--
Bert Hyman St. Paul, MN bert@iphouse.com
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| User: "Art Clemons" |
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| Title: Re: OIL COMPANY PROFITS **TINY** COMPARED TO GOV'T OIL PROFITS!! |
21 May 2007 10:02:21 AM |
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Bert Hyman wrote:
Maybe you should look into how much gas, oil and other products that
company actually sells in a year.
If you really want to do that, then you should consider all of the fuel
products that aren't taxed like off-road diesel, heating oil and the like
too. Not all oil production companies are involved in the chemical side of
the oil business either. That being said, when you add it all up, using
Exxon-Mobil's figures, the rate of return on a gallon of gasoline amounts
to more than 9 cents.
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| User: "" |
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| Title: Re: OIL COMPANY PROFITS **TINY** COMPARED TO GOV'T OIL PROFITS!! |
21 May 2007 12:51:55 PM |
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On May 21, 7:42=EF=BF=BDam, Art Clemons <artclem...@aolSPAM.com> wrote:
theloneranger...@aol.com wrote:
he Government Sucks Up an Average of 42 CENTS PER
GALLON in Taxes.....
Aren't you combining state and federal taxes on fuel?
So What?...........
=EF=BF=BDAren't you also
ignoring that the 9 cents per gallon claim is based on the profit the oil
companies make post refining, ignoring the profits made on oil before it's
refined. =A0Tell me how Exxon-Mobil could have made the profits it bragged
about if it merely made 9 cents per gallon of fuel whether discussing
diesel or gasoline. =A0
High Sales Volumes............You DON'T know much about Business,
doya?............
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| User: "Art Clemons" |
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| Title: Re: OIL COMPANY PROFITS **TINY** COMPARED TO GOV'T OIL PROFITS!! |
21 May 2007 01:08:32 PM |
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wrote:
High Sales Volumes............You DON'T know much about Business,
doya?............
You obviously know much less! Take 10 cents per gallon of gasoline, now
compare that to the funds the federal government takes in as an excise tax,
then divide that figure by the amount the US government takes for the
number of gallons. The Excise tax figures are available too. Multiply
that by 10 cents, that's the supposed in dollars for the oil companies.
Funny isn't it how that figure seems rather low to produce the profits oil
companies produce. If the rate of return on oil was 3%, the oil companies
would be pricing their product too low by most standards. Let's put it
another way, at $3 per gallon with a US owned and operated oil station
using US oil, the total cost of operation would have to amount to $2.49 per
gallon for your claims to be correct.
In the real world, the independent station selling gasoline is making 9
cents per gallon, the oil companies are actually making at least sixty
cents per gallon by their own admission. You shouldn't combine "facts"
without verifying them, you get confused apparently!
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| User: "Luminoso" |
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| Title: Re: OIL COMPANY PROFITS **TINY** COMPARED TO GOV'T OIL PROFITS!! |
21 May 2007 10:05:38 AM |
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On Mon, 21 May 2007 10:42:11 -0400, Art Clemons
<artclemons@aolSPAM.com> wrote:
theloneranger100@aol.com wrote:
he Government Sucks Up an Average of 42 CENTS PER
GALLON in Taxes.....
Aren't you combining state and federal taxes on fuel? Aren't you also
ignoring that the 9 cents per gallon claim is based on the profit the oil
companies make post refining, ignoring the profits made on oil before it's
refined. Tell me how Exxon-Mobil could have made the profits it bragged
about if it merely made 9 cents per gallon of fuel whether discussing
diesel or gasoline.
They sell LOTS of gallons ...
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| User: "KK" |
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| Title: Re: OIL COMPANY PROFITS **TINY** COMPARED TO GOV'T OIL PROFITS!! |
21 May 2007 10:11:05 AM |
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On Mon, 21 May 2007 10:42:11 -0400, Art Clemons wrote:
theloneranger100@aol.com wrote:
he Government Sucks Up an Average of 42 CENTS PER
GALLON in Taxes.....
Aren't you combining state and federal taxes on fuel?
He didn't say "federal government sucks up ...", did he?
Aren't you also
ignoring that the 9 cents per gallon claim is based on the profit the oil
companies make post refining, ignoring the profits made on oil before it's
refined. Tell me how Exxon-Mobil could have made the profits it bragged
about if it merely made 9 cents per gallon of fuel whether discussing
diesel or gasoline.
Of course E-M's profits aren't solely based on the markup on wholesale
gasoline.
Gas isn't that expensive (in constant dollars). As far as record profits
of the oil companies, thank the government.
Environmental regulations have prevented new refineries from opening for
29 years. What does Econ 101 tell you? Artificially limit supply and
prices will rise.
Huge profit, in a perfect world, will be diluted as more companies enter
the business and compete. But preventing new refinery capacity prevents
that, too.
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| User: "Art Clemons" |
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| Title: Re: OIL COMPANY PROFITS **TINY** COMPARED TO GOV'T OIL PROFITS!! |
21 May 2007 11:25:33 AM |
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KK wrote:
He didn't say "federal government sucks up ...", did he?
Just what does "The Government" imply except a single unit of government?
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| User: "KK" |
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| Title: Re: OIL COMPANY PROFITS **TINY** COMPARED TO GOV'T OIL PROFITS!! |
21 May 2007 11:27:59 AM |
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On Mon, 21 May 2007 12:25:33 -0400, Art Clemons wrote:
KK wrote:
He didn't say "federal government sucks up ...", did he?
Just what does "The Government" imply except a single unit of government?
He said "government sucks up an average of 42 cents per gallon ..."
Various government entities tax gas. Why *would* you assume he meant one
"unit" of government?
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| User: "Art Clemons" |
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| Title: Re: OIL COMPANY PROFITS **TINY** COMPARED TO GOV'T OIL PROFITS!! |
21 May 2007 12:58:29 PM |
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KK wrote:
He said "government sucks up an average of 42 cents per gallon ..."
Various government entities tax gas. Why would you assume he meant one
"unit" of government?
No, he said to quote accurately:
""Oil Companies only make 7 to 9 cents per gallon Profit on
Gasoline..........The Government Sucks Up an Average of 42 CENTS PER
GALLON in Taxes..........It sure looks like the Government is Making
Out Like A BANDIT Here""
He also ignores that most of the federal excise tax is used only for roads
and mass transit. The Government implies a single unit of government
doesn't it?
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| User: "KK" |
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| Title: Re: OIL COMPANY PROFITS **TINY** COMPARED TO GOV'T OIL PROFITS!! |
21 May 2007 01:56:30 PM |
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On Mon, 21 May 2007 13:58:29 -0400, Art Clemons wrote:
KK wrote:
He said "government sucks up an average of 42 cents per gallon ..."
Various government entities tax gas. Â Why would you assume he meant one
"unit" of government?
No, he said to quote accurately:
""Oil Companies only make 7 to 9 cents per gallon Profit on
Gasoline..........The Government Sucks Up an Average of 42 CENTS PER
GALLON in Taxes..........It sure looks like the Government is Making
Out Like A BANDIT Here""
He also ignores that most of the federal excise tax is used only for roads
and mass transit. The Government implies a single unit of government
doesn't it?
You haven't added anything that would change my prior answer. What the
excise tax is used for is irrelevant. The federal tax isn't earmarked for
those projects, while some states' are.
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| User: "Art Clemons" |
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| Title: Re: OIL COMPANY PROFITS **TINY** COMPARED TO GOV'T OIL PROFITS!! |
21 May 2007 04:24:54 PM |
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KK wrote:
You haven't added anything that would change my prior answer. What the
excise tax is used for is irrelevant. The federal tax isn't earmarked for
those projects, while some states' are.
I suggest you research the term "Federal Highway Fund" and get back!
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| User: "KK" |
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| Title: Re: OIL COMPANY PROFITS **TINY** COMPARED TO GOV'T OIL PROFITS!! |
22 May 2007 07:16:04 AM |
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On Mon, 21 May 2007 17:24:54 -0400, Art Clemons wrote:
KK wrote:
You haven't added anything that would change my prior answer. Â What the
excise tax is used for is irrelevant. Â The federal tax isn't earmarked for
those projects, while some states' are.
I suggest you research the term "Federal Highway Fund" and get back!
I stand corrected on that point.
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