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Posted to alt.fan.rush-limbaugh,alt.activism,alt.energy,alt.home.repair
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Oil chiefs say high prices not our fault
"VRWC Destruction Machine" wrote in message
...
Carl Swanson wrote in crayon...
VRWC Destruction Machine wrote:
George Grapman wrote in crayon...
SteveB wrote:
The oil companies make 8 cents a gallon. Various governments tax it
over a
dollar a gallon. Do the math, you ****ing genius.
Steve
So why do the companies show record profits?
It doesn't take a genius to figure it out, Curious George. All one has
to have is a pulse.
They have record sales. If a company sold 5 million widgets at 10
cents on the dollar one year and they sold 10 million widgets at 10
cents on the dollar the next year. Will they show a record profit the
second year?
http://www.sfgate.com/cgi-bin/articl.../BUD3VSBR6.DTL
Specifically, state residents bought 1 percent less gas last year, but
California's rate of gas consumption has now fallen for two years in a
row, something that almost never happens outside a serious recession.
Sales tracked by the state Board of Equalization dropped 0.7 percent in
2006.
As the price of producing a gallon of gas, from crude to the refine
product, goes up, so does profits. Oil on the global market goes up,
everything goes up. Profit margins stay the same, but profits do go up
with the price of production. When gasoline was at $2.60 a gallon,
oil companies had a profit margin of 10%-13%. They still maintain that
margin which isn't unreasonable when gasoline exceeded $3.00 a gallon.
So they sold 1% less this year. Gasoline prices went over 1%. The cost
to produce a gallon of gas is maintained throughout the process. As I
said, government makes a larger profit off gasoline than the oil
company without lifting a finger. Maybe we should have an independent
counsel and see if the government is gouging the public over the cost
of gasoline.
Do politicians who beat their chests over oil company profits actually
think the price of gasoline will go down if they impose punitive
taxes on the industry?
Well said!!
It's time to ask yourself, "Are you smarter than a 5th grader",
Curious George?
I think not.
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