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Politics : Don't Blame Me, I Voted For Kerry
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To: Dan B. who wrote (76154)5/10/2006 1:37:16 PM
From: CogitoRead Replies (2) of 81568
 
>>What is your major problem here? Who said taxes on gas AREN'T paid by the consumer or collected at the pump? Oil company profits are also paid by the consumer, no one else, and collected at the pump. Did I mention which was larger by far than the other? I think I did.<<

Dan -

You seem to have been misinformed.

Just a couple of days ago there was a post on this thread referring to an article
about profits per gallon at California refineries being somewhere between 80 cents and a dollar per gallon. According to the American Petroleum Institute, "The nationwide average tax on gasoline is 45.9 cents per gallon as of August 2005." That includes both state and Federal taxes.

And of course, the oil companies make profits on the Upstream side (their terminology) as well. So it is not true that gasoline taxes exceed profits for the oil companies.

Here's a link to my source: api-ec.api.org

I may have joined this discussion in the middle, and this may have nothing to do with what you were talking about, but I think it's outrageous that Congress passed a multi-billion dollar tax cut for the oil companies when they are making record profits, and the federal government is running at a huge deficit.

The President talks about how we as a nation are "addicted to oil", but more money is being put into exploring for oil than for developing alternative fuels. That doesn't make sense, and helps to perpetuate our dependence on foreign oil. This, in turn, makes us less secure as a nation.

- Allen
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