We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
Barrister ... you are so correct on these data. Just checked with my in-house expert on oil companies [40 years at Exxon] and he says that, depending on where the retailer got his product, approximately 8 % of the cost per gallon is profit, for the retailer and the oil company he bought it from, and at least 28% of the price per gallon is federal and state taxes.
That's why it is so annoying to me when Congress blabbers about "excessive oil company profits." The average profit to manufacturing companies, no matter what they make, is more than 10% after all bills are paid. And, as you point out, the governments, state and federal, are taking in more than three times as much per gallon as the producers and marketers of the oil products.
I do not like taxes also.These taxes seems o.k.though ,as taxes go,,,,,, it keeps our roads, bridges and the gettin around stuff workin. At least I think most of the $$$ stay in the USA... Plus it helps the the" hard workin",less educated (but not stupid), of my fellow men and women get a decent pay paycheck,hopefully.....
40 yrs.Expert at Enron????????
The Washington Post just had an BIG article (Sunday, July 27) on the cost components of a gallon of gasoline (sorry-no link-I'm not savvy enough to figure it out). They had a pie chart showing the proportions of the following items:
Raw material (crude oil) 54%
Refining and profits 17%
Marketing and research 15%
The pie chart cleverly (?) combined the cost of making gasoline with profit to make it appear that the oil companies earn more money from a gallon of gasoline than the government steals from it.
And I even question the 54% figure for the cost of the crude oil. If the crude oil costs $126 per barrel (42 gallons per barrel), that works out to a cost of $3 per gallon of crude oil; at $4 per gallon of gasoline, that $3 worth of the raw material appears to me to be 75% of the cost of a gallon of gasoline.