Hey folks, before beating up on the oil companies, keep in mind where the
greatest responsibility for high prices rests: government. Similarly,
governments--Federal, State, and Local--are the biggest profiteers, for the
higher the gas price, the more tax that goes into government coffers.
The next time you go to the gas station, take a look around, because somewhere
will be posted the amount of Federal and State gasoline tax on each gallon. It
will be about 40 cents on the gallon (not even counting the import tax on oil).
On top of that are the State and Local sales taxes included in the total sale
(including a sales tax on the gasoline tax). Now, work it on down the supply
chain with the property, business and income taxes that must be paid by the
station owner. Then all of the property and business taxes on the refineries.
And the property, business and corporation taxes paid by the oil companies
themselves.
After that, you have to figure in the financial cost of the myriad books of
Federal, State, and Local regulations. These costs have to be passed on to the
consumer.
Now, figure in the cost to the consumer of Government blunders. The MTBE
fiasco,
for example. First, the companies were required to invest billions of dollars
in
the techology to make the refineries capable of producing gasoline with MTBE.
Then Government discovered that MTBE was itself a threat to the environment and
told the oil companies to change again. Now, we consumers are paying more
billions for the companies to make yet another change-over.
So far, we haven't even touched on per barrel costs to the producing nation,
shipping costs, or the salaries of everyone in the supply chain.
Finally, remember that every one of you, and virtually all Americans have a
vested interest in the profitability of the oil companies. Your
pension/retirement plans have invested in them!!!
Nope. I ain't an employee of anyone in the chain. Just a writer.
RBE
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