More on oil ...
Price band mechanism and more... (July-2000)
Message 14173844
Now... a factor that we have not even consider before is....
The Tax component of the price of oil hehehehe...
read on.... (URL below, you need pdf)
OVERTAXED AT THE PUMP: WHAT’S BEHIND HIGH GAS PRICES
Retail Price: $1.48 May 2000
13¢ Distribution and Marketing 9%
30¢ Refining Costs and Profits 20%
41¢ Taxes 28%
64¢ Cost of Crude Oil 43%
Cost and Profits
Source: Energy Information Administration, U.S. Department of Energy, located at:
www.eia.doe.gov.
So who is the real evil? OPEC or... Uncle Sam McEvil?
Oooooooh my heart bleeeds for those politicians that
were attacking the evil oil companies last summer....
"Kill the taxman, he is the real evil"
CONCLUSION
Washington’s failure to establish a long-term domestic energy policy that guarantees
and protects America’s energy independence is largely to blame for the high gas prices
Americans pay at the pump.
In the long term, Congress and the President must address the nation’s dependence on
foreign oil that leaves the economy and national security vulnerable.
In the short term, Washington has one important
way to mitigate the impact of high gas prices reduce the federal gasoline tax.
As the surplus of tax overpayments in the Treasury continues to break records,
what better opportunity than now will Congress or the President have to provide
some much needed relief to lower income Americans, the elderly, families,
and those who make their living driving?
Americans want good highways, and they want Washington to lower the price of fuel.
Maintaining the nation’s highways is not dependent on the federal gas tax.
Cutting this tax even temporarily would be a good and fair step that would immediately
help Americans who find it increasingly difficult to make ends meet.
—D. Mark Wilson is a Research Fellow in, and
Angela Antonelli is Director of, the Thomas A. Roe
Institute for Economic Policy Studies at The Heritage
Foundation.
heritage.org
Now.... let's consider some Petroleum Facts:
api.org
Who do we but our oil from ?
Estimated Crude and Products Imports By the U.S.
From Leading Supplier Countries
August 2000
Imports (MB/D) % of Total Imports % of Domestic Product Supplied
1. Canada 1,677 14.2 8.3
2. Saudi Arabia 1,649 13.9 8.2
3. Venezuela 1,627 13.7 8.0
4. Mexico 1,416 12.0 7.0
5. Nigeria 1,122 9.5 5.5
6. Iraq 749 6.3 3.7
7. United Kingdom 387 3.3 1.9
8. Kuwait 383 3.2 1.9
9. Norway 377 3.2 1.9
10. Virgin Islands* 292 2.5 1.4
Other 2,170 18.3 10.7
Total 11,849 100.0 58.6
OPEC Countries 5852 49.4 28.9
Persian Gulf Countries 2,787 23.5 13.8 |
