You know... This thread got me thinking. So, I actually did the math. A standard "Crude" oil "barrel" is 42 gallons (must actually be a metric equivalent) and only about 19 1/2 gallons of gasoline is made from that crude. The leftovers are used to make other products like Kerosene and chemicals for plastics and what not...
Anyway if you take what a barrel of crude cost and factor in what a gallon of gas and kerosene costs... They actually only mark that stuff up about 30 to 40%. Which would just cover the cost of manufacture and transportation.
All along I thought we were getting the royal rectal intercourse thing from the oil companies. Turns out (on paper anyway) that we aren't really.
I will say, however, in the current climate with the oils companies making BIG profits, they could give us all just a little break.
The end retailer never makes money from gas sales, my uncle had a station in Summitt NJ in the 60's, his money was from his 4 bay garage for repairs and Hertz car rentals and during the winter he made more money plowing driveways with his WWII surplus willys jeep. Everybody talks about exxon, shell, etc, those oil companies are small beans in the world scheme of things, the real big oil companies are owned by governments, none of them friendly to the US.
When Luke oil first started opening stations here they were price competitive with everyone else, then the CEO made some bad enemies and was sent to prison and the russian govt took over in everything but name, now Luke oil here, at least in NJ and PA is always the higher priced supplier, the Russians don't care they know we are going to buy it no matter what they charge.
Ask T. Boone Picket he probably knows what the oil companies margins are. It looks like he going to make more millions off green energy now. He's dumping a lot of money into advertising, I doubt its because he wants to get off oil.
Can somebody define "windfall profits" for me?
I want to be sure I understand exactly the evil that we're discussing.
The oil companies make about 8% profit.
The government takes about 20% in taxes, who's robbing you?
"But it does me no injury for my neighbour to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg." - Thomas Jefferson, Notes on the State of Virginia, 1782
Arguing with a truck driver is like wrestling with a pig in mud, eventually you realize the pig enjoys it.
good point skeeter, we can always count on you to chime in with something.
As far the T. Boone Pickens plan, its very clever that while he has the plan to put America on the right track its convienent that he happens own a large equity trust that would profit largely from "green energy".
I work in the natural gas industry and while its great to have an alternative plan to oil, Pickens' plan has some problems of its own. IMO
A conlusion is just the place where you got tired of thinking.