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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Think4Yourself who wrote (58891)1/22/2000 8:37:00 AM
From: Crimson Ghost  Read Replies (1) of 95453
 
John Q:

I agree that refiners may not be a good investment right now, but you do exaggerate your point. The main reason that gasoline prices have risen much less than crude is that taxes typically account for about half the retail price of gasoline in this country. And much more in Europe.

BTW, one of the issues that has long irked OPEC is that European countries collect much more in taxes on a gallon of gasoline than oil producers do on the crude required to produce that gasoline. That probably holds for the US as well -- although to a lesser extent.
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