Goverment or Oil Company: Who makes more off a gallon of gas?

[Mr Natural]

For an industry that's getting raked over the coals by the government, they sure are making some hefty profits.

yeah.....6% is one hefty profit!

Yup, they're barely scraping by.

I can't understand why they bother to stay in the business.

 

[Dr.Drock]

Government or oil company?

What's the difference?

 

[Skull Pilot]

Government does through taxation.

Government.

But relax, The last time prices hit this level the democrats were very concerned about the effects high prices would have on the poor. WA.ST.

Decision.................. Raise the tax ten cents.

The government, of course.

Damn, CON$ are fools!

Big Oil makes money on each step of the process of making gasoline, diesel, kerosene, jet fuel and heating oil. They make money pumping it, trading it, refining it and selling it. The federal government gets 18.4 cents per gallon of gasoline.

Don't forget that the government has separate taxes for diesel, jet fuel, kerosene and heating oil as well.

to say the government only taxes gasoline is a lie.

And the oil industry also spends money for each step of the process so their margin of profit is less. The ******* government spends nothing and even has businesses collecting their taxes for free. So I'd say the government definitely has the higher profit margin on oil

 

[edthecynic]

Government does through taxation.

The government, of course.

Damn, CON$ are fools!

Big Oil makes money on each step of the process of making gasoline, diesel, kerosene, jet fuel and heating oil. They make money pumping it, trading it, refining it and selling it. The federal government gets 18.4 cents per gallon of gasoline.

Don't forget that the government has separate taxes for diesel, jet fuel, kerosene and heating oil as well.

to say the government only taxes gasoline is a lie.

And the oil industry also spends money for each step of the process so their margin of profit is less. The ******* government spends nothing and even has businesses collecting their taxes for free. So I'd say the government definitely has the higher profit margin on oil

Kerosene tax is 21.9 cents, Jet fuel is 4.4 cents, diesel is 24.4 cents, and there is NO federal tax on home heating oil.

And when I gave the pumping cost of $25 per barrel of crude oil in the most expensive places it included the cost of infrastructure needed to pump the oil.

 

[chikenwing]

Government does through taxation.

Government.

But relax, The last time prices hit this level the democrats were very concerned about the effects high prices would have on the poor. WA.ST.

Decision.................. Raise the tax ten cents.

The government, of course.

Damn, CON$ are fools!

Big Oil makes money on each step of the process of making gasoline, diesel, kerosene, jet fuel and heating oil. They make money pumping it, trading it, refining it and selling it. The federal government gets 18.4 cents per gallon of gasoline.

You know not what you talk about. So does the Gov,for each sale and trade there are fees and taxes. The margin is very narrow in the oil gig,a few cents per gallon for refined products. New york has almost 70 cents per gallon tax,let alone the counties that have no cap on the price.

 

[Skull Pilot]

Damn, CON$ are fools!

Big Oil makes money on each step of the process of making gasoline, diesel, kerosene, jet fuel and heating oil. They make money pumping it, trading it, refining it and selling it. The federal government gets 18.4 cents per gallon of gasoline.

Don't forget that the government has separate taxes for diesel, jet fuel, kerosene and heating oil as well.

to say the government only taxes gasoline is a lie.

And the oil industry also spends money for each step of the process so their margin of profit is less. The ******* government spends nothing and even has businesses collecting their taxes for free. So I'd say the government definitely has the higher profit margin on oil

Kerosene tax is 21.9 cents, Jet fuel is 4.4 cents, diesel is 24.4 cents, and there is NO federal tax on home heating oil.

And when I gave the pumping cost of $25 per barrel of crude oil in the most expensive places it included the cost of infrastructure needed to pump the oil.

Not all jet fuel is 4.4 cents. Depending on the use the tax rate changes.

The overall margin of profit for oil is one of the lowest in the market today.

In defense of Big Oil: The truth about those huge, hated earnings numbers - New York Daily News

Yet oil companies' profit margins - that is, the percentage by which their revenues exceed their costs - are quite low. From 2006 to 2010, the nation's five largest oil companies posted an average profit margin of 6.65%. By contrast, Apple's profit margin exceeded 22% and Coca-Cola's surpassed 33%

Seems to me you should be pissed at Coca Cola more than the oil companies.

 

[healthmyths]

Avatar says..
Big Oil makes money on each step of the process of making gasoline, diesel, kerosene, jet fuel and heating oil. They make money pumping it, trading it, refining it and selling it. The federal government gets 18.4 cents per gallon of gasoline.

So there isn't an extraction fee on federal lands then?
Interior Secretary Ken Salazar about his plan to raise royalty rates for oil development on public land from 12.5 percent to 18.75 percent.
Did you add that Federal Revenue in?
Alaska Native News-News for the People of the Last Frontier - Murkowski: Raising Royalties Will Reduce Production on Federal Lands
The U.S. government collects roughly $10 billion annually in revenues from oil, gas and minerals on federal lands. $10 billion a year..

And then the Federal govt gets income tax revenue from the "oil traders/speculators"

And of course.. each time the oil converts to gas to distributors to retailers another 10% or more is paid to the Federal govt...
So there is in ALL the steps from finding to selling another 30 to 50% TAXES on that gallon of gas!