Exxon Mobil Profit in perspective

[Al]

quote:

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Originally posted by Pablo:
BUT - Al it (the peak) did give the owners a mental or even subconcious "reason" to increase the price on the signs and the pump. Sometimes more than once in the same day!

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Well the line between able to control the price by the retailer and price gouging is vague. I'm not sure that the State Attorney Generals in spite of their puffed up rhetoric can leagally enforce pump prices. There is no Public Utility Commission for gas prices that I am aware of.

Yes, you and I might not like it..but if gasoline is availeble..why can't a dealer put the price where he wants?? Why is it wrong. I don't have to buy there. If Giant Super Markets decides to raise all their cereals to double of the previous cost..is that price gouging?? I mean we gotta' eat. Either we accept the free market or we don't. I know that this is far, far to controversial for most folks to accept. (Not saying you are one of them)

I sense that (as I have said) that many conservatives (and I am one) who rail for government out of our lives and totally believe in the free market....These peeps suddenly find it popular to complain when it actually works against them and their SUV's.

I better sto..this might get Papa Oscar Lima India Tango India Charlie Alpha Lima.

 

[GROUCHO MARX]

Well, at over 60 cents per gallon in taxes here in NY, we need a very big drop to see 2 bucks a gallon.

 

[Shannow]

I'll start another thread.

 

[Win]

quote:

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Originally posted by Bob Woods:
A few months ago I said, "chill out gas will come back down", now I can say the we may see 2 dollar a gallon gas by the end of the year.

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$1.99 for 87 AKI all over town this AM here in Fort Smith.

 

[ALS]

Pa. has .495 cents tax on every gallon yet the whiners in my state never complain about the taxes. Heck they just threw on another 5 cent tax back a few months ago in June-July and no one complained then.

 

[keith]

Here's some more perspective:

State and local governments are making huge profits off of the high prices at the pump. Over the long haul, government has a bigger piece of the pie than the producers.

Perhaps some of these compassionate politicians will recommend gas tax reductions and spending cuts to help us out?

 

[MarkC]

Sure they will, be sure and hold your breathe while you wait for it.
Maybe we in Washington will overthrow the gas tax increase soon.

 

[darryld13]

quote:

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Originally posted by keith:
Here's some more perspective:

~SNIP~

State and local governments are making huge profits off of the high prices at the pump. Over the long haul, government has a bigger piece of the pie than the producers.

Perhaps some of these compassionate politicians will recommend gas tax reductions and spending cuts to help us out?

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Most state and local governments tax by the gallon, not by the pump price, so there was probably less revenue taken in as consumers cut back on consumption.

 

[keith]

quote:

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Originally posted by darryld13:
Most state and local governments tax by the gallon, not by the pump price, so there was probably less revenue taken in as consumers cut back on consumption.

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Who knew DC, Rhode Island and Illinois have a Lust tax. They'll be taxing Envy and Gluttony next!

 

[darryld13]

quote:

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Originally posted by keith:

quote:

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Originally posted by darryld13:
Most state and local governments tax by the gallon, not by the pump price, so there was probably less revenue taken in as consumers cut back on consumption.

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Who knew DC, Rhode Island and Illinois have a Lust tax. They'll be taxing Envy and Gluttony next!

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LUST=Leaking Underground Storage Tank

 

[javacontour]

I know Illinois has a "sales tax" on top of the per gallon tax that IS a percentage of the sales price.

T

 

[Al]

quote:

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Originally posted by keith:
Here's some more perspective:

State and local governments are making huge profits off of the high prices at the pump. Over the long haul, government has a bigger piece of the pie than the producers.

Perhaps some of these compassionate politicians will recommend gas tax reductions and spending cuts to help us out?

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The problem with this logic is that we know that at $2.60 (average) people will conserve and there will be enoubn gas. Drop the tax and people won't conserve then there won't be enough gas or the price will go right back up and the oil companies will make more money oh and btw the state taxes will go up to fix the roads or they won't get fixed.

Dou seriously doubt that lowering the gas tax will increase demand and that the price will go up to the same levels??

 

[GROUCHO MARX]

I believe NY has a tax on gasoline calculated on the price as well as per gallon that does not include the sales tax.

Many years ago, the pumps would have the tax components posted. I guess they would have to have something the size of a sail from an America's Cup Yacht to list the taxes now.

 

[keith]

quote:

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Originally posted by GROUCHO MARX:
I believe NY has a tax on gasoline calculated on the price as well as per gallon that does not include the sales tax.

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Connecticut has a 5.8% Gross Receipts Tax applied to the first sale of all petroleum products in the state. The state plans to gradually push up that tax to more than 8% by 2013. Thanks a bunch, you are too kind.

Obviously the table of gas taxes linked to by darryld13 is incomplete at best, deliberately misleading at worst. Taxpolicycenter.org needs a good old fashioned horsewhipping.

 

[NJC]

As per this link, $.375 (of $.875/L gas) or %43 taxes on a liter of gasoline in Vancouver.

http://www.petro-canada.ca/eng/prodserv/fuels/8741.htm

 

[Al]

quote:

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Originally posted by mikemc:
If you drive a gas thirsty SUV or 4 door pickup when a 4 door 4 banger or V6 sedan would serve your needs, you don't have any right to complain about gas prices. It sems many folks did not learn anything from the 1970's oil crisis.

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Hahahahaha..most folks here probably were not buying gas then. Those of us that waited in lines probably think like me. I would rather pay the big bucks and then drive to the absolute extent necessary. Far preferable to waiting in line for hours, following tanker trucks to see where they are going, watching folks get into fist fights, etc. What good is cheap gas when there is none.

 

[mikemc]

If you drive a gas thirsty SUV or 4 door pickup when a 4 door 4 banger or V6 sedan would serve your needs, you don't have any right to complain about gas prices. It sems many folks did not learn anything from the 1970's oil crisis.

 

[darryld13]

quote:

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Originally posted by keith:

quote:

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Originally posted by GROUCHO MARX:
I believe NY has a tax on gasoline calculated on the price as well as per gallon that does not include the sales tax.

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Connecticut has a 5.8% Gross Receipts Tax applied to the first sale of all petroleum products in the state. The state plans to gradually push up that tax to more than 8% by 2013. Thanks a bunch, you are too kind.

Obviously the table of gas taxes linked to by darryld13 is incomplete at best, deliberately misleading at worst. Taxpolicycenter.org needs a good old fashioned horsewhipping.

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Might want to hold off convening the horsewhipping panel, keith. The table is pretty comprehensive and accurate - for example, the footnotes explain IL sales tax. Your CT example is a wholesale, not pump tax. Here's the American Petroleum Institute's latest analysis for comparison purposes.

 

[Shannow]

Al, did you like Mad Max II ?

I always (like to) think I'd be like that...except having jury rigged a multi fuel direct injection rig that would run on rendered animal fat.

 

[keith]

Pump and wholesale taxes, and in fact all business taxes, are ultimately paid for by the consumer. There is no tax paying fairy out there.

Here's another interesting story:

State's gasoline retailers cash in

"Arizona gasoline retailers are taking in their largest profits of the year, with station owners collecting nearly 35 cents for every gallon sold."