Cash Bar

I really don't care what other countries pay.......

I bet they have not seen a 30-50% jump in a few weeks as we have here.

Most of them pay so much do to THEIR taxes and THEIR corruption.

Playn

Maybe we should put the blame for high costs with the greedy government that collects huge taxes on that fuel.

Article from the Tax Foundation:

Gas Taxes Exceed Oil Companies' Profits
With BP, Exxon-Mobil, and Shell reporting record profits, the Tax Foundation reminds us in its latest Fiscal Fact that the biggest beneficiaries of gasoline sales are federal and state governments, not the oil industry:

High gas prices and strong oil company earnings have generated a rash of new tax proposals in recent months. Some lawmakers have called for new “windfall profits” taxes—similar to the one signed into federal law in 1980 by President Jimmy Carter—that would tax the profits of major oil companies at a rate of 50%. Meanwhile, many commentators have voiced support for the idea of increasing gas taxes to keep the price of gasoline at post-Katrina highs, thereby reducing gas consumption. However, often ignored in this debate is the fact that oil industry profits are highly cyclical, making them just as prone to “busts” as to “booms.” Additionally, tax collections on the production and import of gasoline by state and federal governments are already near historic highs. In fact, in recent decades governments have collected far more revenue from gasoline taxes than the largest U.S. oil companies have collectively earned in domestic profits....

[F]ederal and state taxes on gasoline production and imports have been climbing steadily since the late 1970s and now total roughly $58.4 billion. Due in part to substantial hikes in the federal gasoline excise tax in 1983, 1990, and 1993, annual tax revenues have continued to grow. Since 1977, governments collected more than $1.34 trillion, after adjusting for inflation, in gasoline tax revenues—more than twice the amount of domestic profits earned by major U.S. oil companies during the same period:

NRG

Which political party has prevented the building of NEW oil refineries in the United States? We are using 30 yr old technology.

Which political party has prevented the exploration for NEW oil reserves within the United States?

Which political party has prevented offshore drilling? (and now, In the same place, Cuba now plans on drilling there)

Which political party has prevented the drilling for KNOWN oil reserves in the Artic wastelands of Alaska ( because they might upset the sex life of caribou)?

Which political party has prevented the use of NuClear power facilities?

Which political party is FIRST in line to blame the oil companies ?

Guess who supported and voted in all the taxes and laws to make sure the oil companies can't make any progress?

If the oil companies earn ONLY .8 cents a gallon and the Federal Governmnent earns an average of .50 a gallon, WHY BLAME BIG OIL?

eyezlee

Does it start with a D????

GOODT

in all reality what did george do before, hint oil what did cheney do before, oil ........ what are oil prices doing......

what stocks do these guys own......

your guess is as good as mine

Viper31

Thank you KSWEST and PLAYN for providing the valuable information. This is the kind of information all of us should know. Far to many of us in America believe that the so-called mainstream media reports factual information and do not even bother to fact check them. I encourage any and everyone to visit my neck of the woods (MD, VA and D.C.) and see for themselves how much the Federal government and all the business supporting it has grown in the last 20 years. Members of both parties are spending our money like drunkin sailors, yet we vote for these clowns year after year.

Last year all of us worked until July 5th just to pay for the cost of Government (all levels) http://www.atr.org/content/pdf/2005/...t-cogd2005.pdf and I hear very few people *****in about that. Certainly you will not hear this on your local news.

Citizens Against Government Waste produces a "Pig Book" every year http://www.cagw.org/site/PageServer?...ts_pigbook2006 that all Americans should read.

If anyone on this board is in the oil or gasoline business please share your knowledge with the rest of us.

kswest

I don't like Bush or Cheney either, but blaming them for the cost of gas isn't correct. Gas prices are up because crude prices are up and there isn't a single (or group of) politicians that can effect or change that.

Exxon, BP, Shell, etc. are all public companies that anyone with $100 can buy a share or two of. Exxon doesn't make $8 billion the first qtr of 06, the thousands of shareholders make $8 billion the first quarter of 06.

I am not in the financial league of the Bushes or Cheneys but I own some XOM (Exxon) stock and the price appreciation of the stock has far exceeded my gas bill. Want someone to blame? Blame me ... I am profiting everytime you fill up.

{Of course when I sell the stock I'll have to pay capital gains tax and the govt. will get even more of my money. Oh well, I guess someone has to help pay for hurricane katrina debit card tatoos and lap dances)

kswest

Viper ... I grew up in Bethesda and everytime I go back I can't believe how the city has changed. It used to be a pretty cool place, now more like a non-stop cut-throat rat race.

UNSANE

Here's a tidbit of history that causes meltdowns in the minds of my musician friends: It was Jimmy Carter (their hero) who originally proposed the drilling in ANWAR and the Congress at the time was all for it, however when Ronnie arrived, they "changed their minds".

Semper Fi

Aside from all this computing the cost of gasoline, I would "sum it up" by saying that it's pathetic that these oil/gas companies lie and say that the cost has gone up significantly and charge us a rediculous price increase when they are producing record profits. One CEO has been in charge since 1993 and has been paid over 1 billion dollars to date...........that's just insane.

Why don't they just have an add on tv that says, "that's right, we can charge you whatever we want and you still can't do sh*t about it.