Are oil company profits reasonable?
Joe Albero
Delmar
Perhaps everyone should rethink this question and turn it around? You see, Exxon makes, (I believe) 8 cents per gallon. Think about that. They have to refine it, then transport it and in the end they make 8 cents per gallon. Now consider our very own federal government collects 18 cents per gallon in taxes and does nothing. The mainstream media wants to talk about the oil companies and how much money they're making. Granted, those kinds of numbers are ridiculous, but the real story lies in what our very own government makes. This is just another reason why Marylanders should vote Andy Harris for Congress.
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
9 comments:
i dont buy the 8 cents a gallon bullshit, never did.
I believe that Maryland is collecting either .22/cents a gallon or .24/cents a gallon also.
.18 Fed + .22 State = .40/cents a gallon and all of this revenue is paid with virtually no energy being expended by Government. And remember folks, there is still over-road-tax and State Tax Stamp fees being charged to our truckers. WHAT A SCAM!
Joe, I believe you may have awaken a sleeping giant on this subject.
And our Congress wants to rake the oil companies over the coals for excessive profits?
What about our very own Government making excessive money and profiting from excessive taxation while offering NO PRODUCTIVITY TO THE EQUATION.
They absolutely deserve to make a profit. This is a free market economy and the purpose of owning a business is to make a profit. How much criticism did the oil companies take during the early 80's when they were struggling?
If you really want to blame someone for the high gas prices, point the finger at the brokers who buy barrels for $85.00 (estimate) and sell them for $135.00. They can be compared to ticket scalpers at a Ravens game. If you want to see the game and you do not have a ticket, you pay the price.
Between state and federal taxes, Marylanders pay $.42 per gallon of gas while oil companies make no more than $.10 profit per gallon. I also hear that Obama is looking to increase the federal gasoline tax.
http://www.gaspricewatch.com/usgastaxes.asp
See also, http://www.gaspricewatch.com/usgastaxes.asp. Profits should make up about 1/3 of the total costs and profits for refiners.
I think we should take it easy on the gas companies...
VOTE RON PAUL FOR PRESIDENT!
Why and how will Andy Harris make a difference on this issue? I am asking in hopes of learning something about this man.
1144 you read my mind. I've been wondering exactly what it is one man in Congress can do to resolve this problem.
I think what 10:54 actually meant to say was, "THROW YOUR VOTE AWAY!"...
You can tell anon. 9:33 knows nothing about ecomomics. Exxon's profits were up but there profit margin was only 7%.
anon.9:44.
Andy Harris is for domestic oil drilling and nuclear energy to start with.One man will do what needs to be done. Are you happy at the pump and opening your electric bill?
I encourage everyone to got to AMERICAN SOLUTIONS.com and sign the petition "DRILL HERE/DRILL NOW".
All commenters please note: $0.40 (for example) means 0.40 DOLLARS, not 0.40 CENTS. There is a difference. The difference is a factor of 100. This matters. Please be careful how you type these numbers. Thanks!
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