tag:blogger.com,1999:blog-9007160.post1426057494710891798..comments2023-11-02T09:54:07.236-05:00Comments on the grenzian: Obscene ProfitsRobb Ryersehttp://www.blogger.com/profile/02701156780977117796noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-9007160.post-21807359743727789892008-06-18T20:37:00.000-05:002008-06-18T20:37:00.000-05:00Let's post the facts:73% for crude oil11% for stat...Let's post the facts:<BR/>73% for crude oil<BR/>11% for state and federal taxes<BR/>10% for refining and profit<BR/>6% for distributing and marketing<BR/><BR/>Assuming $4.00 a gallon this is the breakdown in dollars.<BR/><BR/>$2.82/gallon crude oil<BR/>$0.44/gallon state and fed taxes<BR/>$0.40/gallon refining and profits<BR/>$0.24/gallon distribution/marketing<BR/><BR/>This is a good example of the 80/20rule at hand. So who is getting rich? Hmmm, let's see. Who are the top 25 crude oil producers?<BR/><BR/>1. National Iran Oil Co.<BR/>2. Saudi Arabian Oil Co.<BR/>3. Iraq Oil Co.<BR/>4. Qatar Oil Co.<BR/>5. Abu Dahbi Oil Co. UAE<BR/>6. Kuwait Oil Co.<BR/>7. Petro Venezuela<BR/>8. Nigerian National Oil Co<BR/>9. National Oil Co. Libya<BR/>10.Sonatrach Algeria<BR/>11.Gazprom Russia<BR/>12.PetroChina<BR/>13.OAO Rosneft Russia <BR/>14.Petronas<BR/>15.OAO Lukoil Russia<BR/>16.Petro Mexico<BR/>17.ExxonMobil US<BR/>18.BP Corp UK<BR/>19.Egypt Oil<BR/>20.Chevron US<BR/>21.ConocoPhillips US<BR/>22.Total France<BR/>23.Petro Oman<BR/>24.Petro Brazil<BR/>25.Royal Dutch Shell Netherlands<BR/><BR/>The cause of occurance is lack of supply with huge demand. Majority of supply is held by foreign nations. <BR/><BR/>How to correct the problem:<BR/>>Get off foreign oil or own the foreign oil<BR/>>Look for alternative fuel sources<BR/><BR/>Enough rant.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9007160.post-37954290599817928772008-06-16T15:22:00.000-05:002008-06-16T15:22:00.000-05:00Good commentary, Robb. I think, though, we're pro...Good commentary, Robb. <BR/><BR/>I think, though, we're probably going to have to get used to the idea that while we have the rights to "life, liberty, and the pursuit of happiness", nobody said anything about the right to cheap oil/energy (the sense of entitlement in this country on just about anything one can think of has reached truly preposterous levels in recent years).<BR/><BR/>I do think "we the people" are going to have to get it across to Congress that we would VERY much like them to stop making it so impossible to utilyze our plentiful energy resources and that any research into alternative approaches should emphasize energy sources that are actually feasible in the real world (like, say, nuclear--if France can pull it off, I don't know why we can't) and that don't entail screwing our fellow man by burning food.<BR/><BR/>I don't know of any practical way to do this though. I was thinking about starting a nice petition, but I just don't think it would work. :-(<BR/><BR/>At least we can comfort ourselves that we're not quite to the point of "a day's wages for a loaf of bread" (yet); although, it will be interesting to see where we're at by the end of the summer.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9007160.post-38088440181490582572008-06-14T20:40:00.000-05:002008-06-14T20:40:00.000-05:008 cents a gallon seems fair and reasonable to me. ...8 cents a gallon seems fair and reasonable to me. From what I heard, their margin is something like 6.9% which also seems fair and reasonable to me.Robb Ryersehttps://www.blogger.com/profile/02701156780977117796noreply@blogger.comtag:blogger.com,1999:blog-9007160.post-51569154242293775922008-06-14T18:47:00.000-05:002008-06-14T18:47:00.000-05:00What about a fair and reasonable profit? Have the ...What about a fair and reasonable profit? Have the oil companies crossed that line?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9007160.post-70815158600433958202008-06-14T10:18:00.000-05:002008-06-14T10:18:00.000-05:00Justin, did I say that I am against a fair and rea...Justin, did I say that I am against a fair and reasonable gas tax? Did I say that I support a gas tax holiday?<BR/><BR/>No.<BR/><BR/>I said that it is obscene for politicians to complain about Big Oil profits when the government profits (for doing nothing) on a gallon of gas are 5 times greater than oil companies'.Robb Ryersehttps://www.blogger.com/profile/02701156780977117796noreply@blogger.comtag:blogger.com,1999:blog-9007160.post-84718503873709049072008-06-13T20:27:00.000-05:002008-06-13T20:27:00.000-05:00I know that those tax dollars are used for other p...I know that those tax dollars are used for other purposes too, but your rationale in the original post sounded as if you disagreed with the whole idea of gas taxes - and I'm just saying they are necessary.<BR/><BR/>Some states have raised them to the point of ridiculousness, but with the derelict condition of our nation's infrastructure - I see a federal gas tax as necessary. And killing the gax tax for the summer is only going to hurt our country's transportation system instead of saving the pocketbooks of Americans. (Wanna take a stab in the dark as to who I'm voting for in the fall?)<BR/><BR/>I don't really think the 8 cents is ripping us off, but I am upset because I don't believe the oil companies are using that 8 cents to develop effective alternatives.David Wolfganghttps://www.blogger.com/profile/01579570628451757277noreply@blogger.comtag:blogger.com,1999:blog-9007160.post-73409894745050503562008-06-13T20:21:00.000-05:002008-06-13T20:21:00.000-05:00Democrates "Nix drilling in Anwar". Republicans "N...Democrates "Nix drilling in Anwar". <BR/><BR/>Republicans "Nix windfall taxes on big oil companies".<BR/><BR/>Who is in bed with these politicians? Hmmmm???Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9007160.post-19199064527568297122008-06-13T19:13:00.000-05:002008-06-13T19:13:00.000-05:00Justin, you don't think that the tax revenue colle...Justin, you don't think that the tax revenue collected from gas sales is used exclusively for roads, do you? Do you also believe that there is a lockbox for social security taxes?<BR/><BR/>And ... I hardly think that an 8 cent margin is ripping people off.Robb Ryersehttps://www.blogger.com/profile/02701156780977117796noreply@blogger.comtag:blogger.com,1999:blog-9007160.post-88254346463023889922008-06-13T18:34:00.000-05:002008-06-13T18:34:00.000-05:00That obscene profit you're talking about is an eff...That obscene profit you're talking about is an effective use tax that builds and upkeeps roads, bridges and infrastructure.<BR/><BR/>If you don't want to pay for roads, than don't use them - it's the principle of the use tax that makes almost too much sense.<BR/><BR/>Oil companies say they use their "obscene profits" for R&D, but why would an oil company want to produce a product that is so effective that their current product would be useless and you would need their services less. <BR/><BR/>Hmmm.<BR/><BR/>It sounds identical to the health care dilemma. We're asking the corporations to give us preventative care so that we never need them and make their services useless.<BR/><BR/>We're asking the oil industry to self-destruct. I would rip people off while I could too.David Wolfganghttps://www.blogger.com/profile/01579570628451757277noreply@blogger.com