(no subject)

[strredwolf]

Okay, from CBS and WJZ news reports, and taking the max per $3.01 gallon of gas in Maryland:

• 10 cents to the station.
• 3 cents to the gas wholesaler in profit.
• 2 cents to get the gas to the station.
• 19.4 cents to the Feds for gas taxes.
• 23.5 cents to Maryland
• The rest goes to the oil companies.

So roughly 60 cents per gallon is accounted for.  This doesn't account for marking, refining, and the actual price of crude.
Supposedly, 44% of the cost of gas is price of crude (back in 2003).

I have questions about that.  Every news report you turn on tells folks that the gas/oil companies are making record profits.  It smells of price gouging at higher-levels, or simply put, fraud.

We need an investigation, but by a independent counsel.  I have no faith in the FTC nor the Bush administration.

Comments

[kazriko.livejournal.com]

Record profits, but not record profit margins. The profit margins are lower than last year. The reason the profits are record is because of exxon buying out smaller companies and having their production added in, along with general increases in their own production.