On Sat, 13 Oct 2012 11:37:17 -0700, Gunner
wrote:

On Wed, 10 Oct 2012 12:02:59 +0700, John B.
wrote:


About half the following article is slanted badly. Like a bookcase
about to crash. But it will give you some idea of the issues here.

http://www.orionmagazine.org/index.p.../article/6047/

Well, some fairly spirited writing there and he missed a bunch of
facts but not a bad story. What he seems to be missing though is the
reason for the horrid oil companies being so bloated with wealth.
People seem to have difficulty remembering that the oil company's
profits result solely from people buying their product.

What I always find fascinating..is that oil companies Net about 5-8
cents profit per gallon of whatever the output is...gasoline, diesel,
benzine etc. Not Percent...but $0.05 per gallon

Yet each state and the Feral government makes between .25 and .50
cents per gallon..with Zero work for it, in taxes.
http://www.api.org/Oil-and-Natural-G...l-summary.ashx

http://www.api.org/Oil-and-Natural-G...uel-Taxes.aspx

This does NOT include sales taxes, buried tank taxes and a host of
other income revenue taxes that are charged. etc etc

Yet the oil companies are making huge profits. A nickle at a time.

Gunner

When I was a kid I worked part time in a gas station. At the time we
made 1 cent a gallon for regular and slightly more but less then 2
cents for high test. State and Federal tax at the time was something
like 11 cents. So, as you say, the oil company's split was 5 cents for
producing. refining, storage, transportation, etc.
--
Cheers,
John B.