Why Is Gas So High?

[Dabs]

Well....I paid $3.03 per gallon yesterday!

 

[peach174]

If Congress really wanted to give us tax cuts, they should stop the Federal taxes on Gas.
Instead they want to cut the payroll tax for Seniors.
It's a terrible game of politics, all because each party wants to get reelected.
They really don't care about the American people.

 

[rdean]

The US is producing so much gasoline, Big Oil can't sell all of it here. So they are exporting record amounts of gasoline to keep the price here artificially high. So much for the CON$ervative crap about refining capacity being so low jacking up prices because no new refineries were built in 30 years.

DRILL, BABY, DRILL
so Big Oil can
EXPORT, BABY, EXPORT

Gasoline: The next big U.S. export - Dec. 5, 2011

NEW YORK (CNNMoney) -- The United States is awash in gasoline. So much so, in fact, that the country is exporting a record amount of it.
The country exported 430,000 more barrels of gasoline a day than it imported in September, according to the U.S. Energy Information Administration. That is about twice the amount at the start of the year, and experts and industry insiders say the trend is here to stay.

The United States began exporting gas in late 2008. For decades prior, starting in 1960, the country used all the gas it produced here plus had to import gas from places in Europe.
But demand for gas has dropped nearly 10% in recent years. It went from a peak of 9.6 million barrels a day in 2007 to 8.8 million barrels today, according to the EIA.

Don't badmouth oil companies. Republicans get tired of having to apologize.

 

[Mr Natural]

Why Is Gas So High?

Because it can be.

 

[KissMy]

A conspiracy forum thread imo.

Demand is down because production is down....

^ this...

yes, to cornucopians, rising oil price is all a big conspiracy... a 550% price increase over 12 years has had nothing to do with supply constraints, and is merely the result of artificial suppression of flow rates, keeping the oil in the ground so they can jack the price up. ... you know, by leftists.

where they all met to get their story straight, and how no one has leaked any of it remains quite the mystery.

If you are talking about OIL prices instead of GASOLINE, then politics, fear, terrorism & war have driven supply & oil prices far more than market based supply & demand. If Iran gets attacked oil price will spike by $40. When Osama hit US on 9/11 oil price jumped 30%. When we killed Osama oil price dropped 30%. When Bush opened the OCS to drilling oil price fell over $100. When Obama took office oil price rose $90.

 

[BluePhantom]

Don't badmouth oil companies. Republicans get tired of having to apologize.

Oh yeah...let's attack the big bad oil companies. Anything about the following chart strike you as odd?

CARPE DIEM: Gasoline Taxes Per Gallon Are Almost 7 Times ExxonMobil's Profit: 48 cents vs. 7 cents for QI

Pssst....I will give you a hint:

"But the fact is, the gross profit margin for a gallon of gas in America today, is what it has always been, on average, .08 cents per gallon, (2.5% at $3.00 per gallon). Though retail gas prices fluctuate with crude prices and supply vs. demand, the gross profit margin per gallon remains roughly the same at all times. (No evidence of price gouging here.)

However the federal government profits approximately .59 cents per gallon through gasoline taxes, 7 ½ times or 750% that of the oil producers themselves and 20% of the price at the pumps. Pay attention here, Washington liberals are attacking oil companies for their 2.5% gross profit margin, while Washington is profiting 20% per gallon. Democrats answer? Tax some more?"

Who is "gouging" Whom at the Pumps?

 

[rdean]

Don't badmouth oil companies. Republicans get tired of having to apologize.

Oh yeah...let's attack the big bad oil companies. Anything about the following chart strike you as odd?

CARPE DIEM: Gasoline Taxes Per Gallon Are Almost 7 Times ExxonMobil's Profit: 48 cents vs. 7 cents for QI

Pssst....I will give you a hint:

"But the fact is, the gross profit margin for a gallon of gas in America today, is what it has always been, on average, .08 cents per gallon, (2.5% at $3.00 per gallon). Though retail gas prices fluctuate with crude prices and supply vs. demand, the gross profit margin per gallon remains roughly the same at all times. (No evidence of price gouging here.)

However the federal government profits approximately .59 cents per gallon through gasoline taxes, 7 ½ times or 750% that of the oil producers themselves and 20% of the price at the pumps. Pay attention here, Washington liberals are attacking oil companies for their 2.5% gross profit margin, while Washington is profiting 20% per gallon. Democrats answer? Tax some more?"

Who is "gouging" Whom at the Pumps?

Exxon Mobil: Biggest profit in history
The largest U.S. oil company surges past analysts' estimates with a posted net income of $14.83 billion and sets a national record for quarterly profit.

Exxon breaks record for profit, yet again

Once again, Republican apologize to oil companies.

 

[rdean]

Exxon Mobil said Thursday that it makes relatively little money on gasoline, even as it reported a nearly $11 billion quarterly profit.

Exxon pushes back on gas price anger as profits soar - Apr. 28, 2011

 

[rdean]

it's difficult to even comprehend the financial power of Big Oil. BP, Chevron, Shell, Exxon Mobil and Total SA made $76.8 billion in net profits in 2010. This was a $12.4 billion increase from 2009 profits and a nearly 50 percent increase from 2000. Since 2001, the five largest oil companies made nearly $1 trillion in profits. In 2008, Exxon Mobil posted the largest annual profit in U.S. history. This was at the same time that the rest of our economy crashed.

Ending Big Oil breaks could save U.S. money

You were saying?

 

[peach174]

Don't badmouth oil companies. Republicans get tired of having to apologize.

Oh yeah...let's attack the big bad oil companies. Anything about the following chart strike you as odd?

CARPE DIEM: Gasoline Taxes Per Gallon Are Almost 7 Times ExxonMobil's Profit: 48 cents vs. 7 cents for QI

Pssst....I will give you a hint:

"But the fact is, the gross profit margin for a gallon of gas in America today, is what it has always been, on average, .08 cents per gallon, (2.5% at $3.00 per gallon). Though retail gas prices fluctuate with crude prices and supply vs. demand, the gross profit margin per gallon remains roughly the same at all times. (No evidence of price gouging here.)

However the federal government profits approximately .59 cents per gallon through gasoline taxes, 7 ½ times or 750% that of the oil producers themselves and 20% of the price at the pumps. Pay attention here, Washington liberals are attacking oil companies for their 2.5% gross profit margin, while Washington is profiting 20% per gallon. Democrats answer? Tax some more?"

Who is "gouging" Whom at the Pumps?

Exactly the point I was making.
Give the people a real tax break.
Drop the Feds taxes on Gas. For a year or two
Instead they are robbing the Seniors in SSI and Medicare for the last year and now another 2 months or full year.
Dem's are throwing grandma over the cliff
But Repubs are not even making this point or even suggesting that this could be done.
No it's cut the peoples program funding, but never the Governments income.

 

[Big Fitz]

I want cheap corn, wheat, oats, etc. but "Big Ag" is exporting grains at a record pace thereby controlling the price we pay for food at the supermarket.

Get a grip. Crude, natural gas, and refined products is a global market.
We're part of the globe.

We're only part of the globe when it makes a convenient point for the loony left.

 

[Big Fitz]

Don't badmouth oil companies. Republicans get tired of having to apologize.

Oh yeah...let's attack the big bad oil companies. Anything about the following chart strike you as odd?

CARPE DIEM: Gasoline Taxes Per Gallon Are Almost 7 Times ExxonMobil's Profit: 48 cents vs. 7 cents for QI

Pssst....I will give you a hint:

"But the fact is, the gross profit margin for a gallon of gas in America today, is what it has always been, on average, .08 cents per gallon, (2.5% at $3.00 per gallon). Though retail gas prices fluctuate with crude prices and supply vs. demand, the gross profit margin per gallon remains roughly the same at all times. (No evidence of price gouging here.)

However the federal government profits approximately .59 cents per gallon through gasoline taxes, 7 ½ times or 750% that of the oil producers themselves and 20% of the price at the pumps. Pay attention here, Washington liberals are attacking oil companies for their 2.5% gross profit margin, while Washington is profiting 20% per gallon. Democrats answer? Tax some more?"

Who is "gouging" Whom at the Pumps?

but but but... capitalism is evil! Government is the font of all that is good in the world!

 

[rdean]

I want cheap corn, wheat, oats, etc. but "Big Ag" is exporting grains at a record pace thereby controlling the price we pay for food at the supermarket.

Get a grip. Crude, natural gas, and refined products is a global market.
We're part of the globe.

We're only part of the globe when it makes a convenient point for the loony left.

So we're not part of the globe?

 

[rdean]

Don't badmouth oil companies. Republicans get tired of having to apologize.

Oh yeah...let's attack the big bad oil companies. Anything about the following chart strike you as odd?

CARPE DIEM: Gasoline Taxes Per Gallon Are Almost 7 Times ExxonMobil's Profit: 48 cents vs. 7 cents for QI

Pssst....I will give you a hint:

"But the fact is, the gross profit margin for a gallon of gas in America today, is what it has always been, on average, .08 cents per gallon, (2.5% at $3.00 per gallon). Though retail gas prices fluctuate with crude prices and supply vs. demand, the gross profit margin per gallon remains roughly the same at all times. (No evidence of price gouging here.)

However the federal government profits approximately .59 cents per gallon through gasoline taxes, 7 ½ times or 750% that of the oil producers themselves and 20% of the price at the pumps. Pay attention here, Washington liberals are attacking oil companies for their 2.5% gross profit margin, while Washington is profiting 20% per gallon. Democrats answer? Tax some more?"

Who is "gouging" Whom at the Pumps?

Exactly the point I was making.
Give the people a real tax break.
Drop the Feds taxes on Gas. For a year or two
Instead they are robbing the Seniors in SSI and Medicare for the last year and now another 2 months or full year.
Dem's are throwing grandma over the cliff
But Repubs are not even making this point or even suggesting that this could be done.
No it's cut the peoples program funding, but never the Governments income.

You write like you think if you reduce taxes, oil companies will reduce the price of gas. Why would you think that?

 

[Big Fitz]

I want cheap corn, wheat, oats, etc. but "Big Ag" is exporting grains at a record pace thereby controlling the price we pay for food at the supermarket.

Get a grip. Crude, natural gas, and refined products is a global market.
We're part of the globe.

We're only part of the globe when it makes a convenient point for the loony left.

So we're not part of the globe?

Never said we weren't. The left only gives a shit about being 'part of the globe' when it seems to provide a political advantage to them. Otherwise, everything happens in the vacuum of their desired situation unaffected by anything else. Other members of the idiot left class constantly remind us of the 'global oil market' in an effort to minimize our contributions to OVERALL SUPPLY as a depressing force to global oil prices. But when it suits them, they flip the case and pretend we're isolated. So it does not matter whether or not Exxon exports or not it's oil or gasoline, it's still in the global market and the more production they do, the more they depress overall prices.

 

[Big Fitz]

Oh yeah...let's attack the big bad oil companies. Anything about the following chart strike you as odd?

CARPE DIEM: Gasoline Taxes Per Gallon Are Almost 7 Times ExxonMobil's Profit: 48 cents vs. 7 cents for QI

Pssst....I will give you a hint:

"But the fact is, the gross profit margin for a gallon of gas in America today, is what it has always been, on average, .08 cents per gallon, (2.5% at $3.00 per gallon). Though retail gas prices fluctuate with crude prices and supply vs. demand, the gross profit margin per gallon remains roughly the same at all times. (No evidence of price gouging here.)

However the federal government profits approximately .59 cents per gallon through gasoline taxes, 7 ½ times or 750% that of the oil producers themselves and 20% of the price at the pumps. Pay attention here, Washington liberals are attacking oil companies for their 2.5% gross profit margin, while Washington is profiting 20% per gallon. Democrats answer? Tax some more?"

Who is "gouging" Whom at the Pumps?

Exactly the point I was making.
Give the people a real tax break.
Drop the Feds taxes on Gas. For a year or two
Instead they are robbing the Seniors in SSI and Medicare for the last year and now another 2 months or full year.
Dem's are throwing grandma over the cliff
But Repubs are not even making this point or even suggesting that this could be done.
No it's cut the peoples program funding, but never the Governments income.

You write like you think if you reduce taxes, oil companies will reduce the price of gas. Why would you think that?

No, if you reduce gas taxes, you reduce the cost of gas. You can make up for it by starting to license and charge bicycle riders for the use of the roads they currently enjoy for free at the expense of car owners/users.

If you want oil companies to reduce price, you will then decrease government interference and regulation decreasing the cost of production, exploration and everything else they do to make the product.

 

[Dont Taz Me Bro]

I bought gas for $2.92 this morning.

 

[Big Fitz]

I bought gas for $2.92 this morning.

I pay $3.44. Don't make me beat you.

 

[peach174]

Oh yeah...let's attack the big bad oil companies. Anything about the following chart strike you as odd?

CARPE DIEM: Gasoline Taxes Per Gallon Are Almost 7 Times ExxonMobil's Profit: 48 cents vs. 7 cents for QI

Pssst....I will give you a hint:

"But the fact is, the gross profit margin for a gallon of gas in America today, is what it has always been, on average, .08 cents per gallon, (2.5% at $3.00 per gallon). Though retail gas prices fluctuate with crude prices and supply vs. demand, the gross profit margin per gallon remains roughly the same at all times. (No evidence of price gouging here.)

However the federal government profits approximately .59 cents per gallon through gasoline taxes, 7 ½ times or 750% that of the oil producers themselves and 20% of the price at the pumps. Pay attention here, Washington liberals are attacking oil companies for their 2.5% gross profit margin, while Washington is profiting 20% per gallon. Democrats answer? Tax some more?"

Who is "gouging" Whom at the Pumps?

Exactly the point I was making.
Give the people a real tax break.
Drop the Feds taxes on Gas. For a year or two
Instead they are robbing the Seniors in SSI and Medicare for the last year and now another 2 months or full year.
Dem's are throwing grandma over the cliff
But Repubs are not even making this point or even suggesting that this could be done.
No it's cut the peoples program funding, but never the Governments income.

You write like you think if you reduce taxes, oil companies will reduce the price of gas. Why would you think that?

I never said that nor did I even imply it.
I am talking about tax cuts period.

 

[BluePhantom]

Exxon Mobil said Thursday that it makes relatively little money on gasoline, even as it reported a nearly $11 billion quarterly profit.

Exxon pushes back on gas price anger as profits soar - Apr. 28, 2011

When did I make the argument that oil companies did not make a profit? When you sell almost 400 million gallons of gasoline a day, even at a $0.07 or $0.08 profit you are going to score some serious jack. But now take that profit the oil companies made and multiply it by seven and that's how much profit the government made. So the point is if you are going to bitch and whine about the greedy oil companies, you damn well better bitch like hell about the greedy government.