Community Forums

diandtom · 04-26-2006, 01:49 PM

I was watching ABC tonight and they were talking about the billions that the oil companies are making. Also today on Fox news they claim oil companies make $.09 per gallon sold and the US goverment get $.50 per gallon tax on fuel. I was just wondering how much the goverment is getting on their $.50? None of the networks tells how much the goverment is raking in. There was a big disussion from a senator from Ill. and the Fox news. It seems they need the money for road construction, not going to take any of the tax away.
Tom

diandtom · 04-26-2006, 01:49 PM

I was watching ABC tonight and they were talking about the billions that the oil companies are making. Also today on Fox news they claim oil companies make $.09 per gallon sold and the US goverment get $.50 per gallon tax on fuel. I was just wondering how much the goverment is getting on their $.50? None of the networks tells how much the goverment is raking in. There was a big disussion from a senator from Ill. and the Fox news. It seems they need the money for road construction, not going to take any of the tax away.
Tom

tbrannon · 05-03-2006, 12:56 PM

hey diandtom, we in Georgia discovered a few years ago that uncle sam had 12 billion dollars of our fuel tax money and were going to spend it as they saw neccessary! we now have many new representatives and much road construction is occurring. funny? i don't think i would call it a fluke.

tbrannon · 05-03-2006, 12:58 PM

i meant to say i wouldn't call it a fluke. sorry

05-05-2006, 05:04 PM

News never tells the full story and context of the facts. Profits made at wellhead (high now), refinery (margins high now), at the pump will be the least profit.

Much of the high prices on crude and refined products is driven up by all of us and the "thems" speculating on the futures markets. This causes a huge upswing just by itself.

The growth of China and India is having a huge impact on world prices also. There is a large amount of refined products being shipped from north america to various countries around the world.

Dave · 05-27-2006, 01:08 PM

The US governement makes more money per gallon of oil than any one else does. It is called Tax, about 50 cents per gallon.

The guy who owns the service station is luck to make 4 cents a gallon.

The oil compaines, Exxon and BP and so on make about 14 to 15% proffit on drilling and pumping oil. That is actually pretty low when compaired to other industries. Pharmasuticals are at 22 to 23% profit. Electronics are at 25% profit, furniture is at 19% profit.

So yea the did have record earnings. That is due to record sales. US the consumption keeps going up. China and Korea have more then tripple their use of oil in the past five years.

It is a same the news will not tell the whole story. The governement wants us to believe it is at bad oil companies so we do not realize they make more money on oil than any one else. That is why congress investigated the oil companies, so we would believe that was where the money when and not look at the government.

RustyJC · 05-31-2006, 03:21 AM

Actually, the major oil companies' profit as a per cent of revenue is between 7% and 10%. Many other business segments are much higher.

Rusty

05-31-2006, 04:46 PM

For comparison, ROACE for 2003 was about 13%, for 2005 it was about 27% and the outlook for this year is at least equal to or greater than 27%. So, all of you with stocks in the biggies must be smiling.

Izzyblueye · 06-01-2006, 02:57 PM

Oil price structure is just what they want you to know. It is proprietary information and you are never going to know the truth. The government, IMHO, is right in bed with the biggies. If we spent 1% on alternative energy in this country, we would have the problem solved, as does Brazil. We will diddle around with other ideas, but oil most likely will remain our King for some time to come. Get used to high prices for fuel.

crudeman · 06-01-2006, 03:57 PM

Heck just think if it really was just this big scam everyone thinks it is now, why did the oil companies not do this years ago? Of course I make my living in this business, but I have seen the good times and the bad times over the past 30+ years I have done this. I have been thru 2 refinery shutdowns over this time. But yep, I pay the same amount as everyone else. Does not make it right, but just my 2 cents.

RustyJC · 06-02-2006, 03:32 AM

As Steve said, if the major oil companies controlled prices, we wouldn't have had $10/bbl crude oil with the resultant business failures, downsizing, layoffs, consolidations, etc. in the energy-related businesses back in the late 1990s. I've worked for a manufacturer of oilfield equipment for the last 32+ years and have experienced this firsthand. This business has always been cyclical - feast or famine - and I fill my truck up paying the same pump prices as everyone else.

Rusty

Tootall · 06-02-2006, 05:05 PM

Below you will find a little known fact on who is really getting a lot of our U.S. Bucks. I am posting this as I was shocked at what we are doing to ourselves.
http://www.economyincrisis.org/artic...icle.asp?ID=28
Just my 2 cents worth.

lwmuddy · 06-03-2006, 10:19 AM

I new that many companies were now British owned, but the rest is amazing and Scarey too.

Can you find a list of the American companies that have closed up operations and layed off workers in the US and moved to Mexico.
That would astound you too.

It's Too bad, because America was a nice place once.

06-03-2006, 01:29 PM

Surprise, surprise, but Canada is no different than the USA. Everything is being sold out to foreign companys. Thank you very much for all the buyin to off shore companies on the stock markets.

The TSR has become way too important in the last 20 years.

The trade deficits are beyond incredible but we are still trying to put on the stoic face.