Bush entered the Iraqi war in order to prevent Saddam from controlling too much oil (which makes gas, as an explanation only to you) however,
he only succeeded in ticking the cartels off and the reverse happened!

He caused the increases---not made the increases.

His old buddies in Saudi Arabia have been no help! However the Saudis did furnish most of the pilots for the 911 plane bombs!

Hey Dollar!!

I would recommend researching an item before you discuss it, anyway....

Here is a breakdown of the cost of a gallon of gas in CA:

- Distribution Costs, Marketing Costs and Profits - 1.5% (.05/3.33)

- Crude Oil Cost - 70.6% (2.35/3.33)

- Refinery Cost and Profits - 9% (.3/3.33)

- State Underground Storage Tank Fee - .3% (.01/3.33)

- State and Local Sales Tax - 7.5% (.25/3.33)

- State Excise Tax - 5.4% (.18/3.33)

- Federal Excise Tax- 5.4% (.18/3.33)

That is the verbatim cost for a gallon of gas in CA. Wow, Dollar, did you realize that we pay ~ 18.6% in taxes for EVERY gallon of gas!!! Further, those "EVIL -- Picture Dr. Evil from Austin Powers - oil companies are making 10.5% on every gallon of gas that we purchase (excluding refining costs!!!) - Which likely puts their margin closer to 6-7%!

Those evil corporations are making $0.06 on every dollar they spend!! Let's get the government involved....

Also, click here for documentation of the stats listed above...

Unfortunately, I'm sure that the Citizen bloggers will ignore the above and know that you speak the truth!

You left out one minor item in your analysis above, Exxon, Shell, BP and the others also sell oil which they extract on the world market. This explains their profits. I'm not saying this is a bad thing. However, I watch in amazement how Exxon alone made more money than the GDP's of all but 38 nations.

Another part of the problem is the strength of the dollar has really fallen in the last 4 years. This has added tremendous buoyancy to oil commodities. Whoever takes the presidency better have some very good economic advisors that can tackle this.

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You are correct about them doing some of their own drilling. Tney also own great expanses of underground oil they are NOT pumping, Why?

The answer is simple: we want to use all the Arab oil before we use all of ours!

The "seven sisters," not that many now, have ruled the world's economy since steam engines and horse and buggies went out of vogue!
It is what the Germans, the Dutch, The British, us, the Japanese, and others, have fought over for over a hundred years.

China may want to try some action there next, what with little oil and a booming expansion.

We call it fighting for "democracy," though.

We are still doing this!
Good show Sage!

"Good show Sage!"

Do your multiple personalities ever have jealousy issues? In other words, does Dollar get a little miffed when you compliment Sage? If so, please share with us how you calm them all down. Do you gather them all together in one chair and watch short-skirted FOX babes read the news?

we want to use all the Arab oil before we use all of ours.

I wish that were true. However, if you do a little on-line research you will find the following theme:

With consumption at 21 million barrels per day (7.7 gigabarrels per year) (2007), US reserves alone could satisfy US demand for only three years.

The answer is that we move on and find another energy source.

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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.

You have to look at the Profit Margin. That is dollars invested vs dollars made.

There are many more lucrative business's than Oil Companies.

Boy I would like to own one of those companies who make and spend more than the Oil companies: you are aware that 1% of a zillion dollars is worth more and influences more than 25% of a dime, aren't you?

Actually many companies now operate at a perpetual "loss." Just keep borrowing against an inflated net worth. (Delta).

Now who should be sure and get overly rich: the people working for oil companies, or the stockholders---or both.

Delta employees are generally overpaid but the stockholders have been suckers (including the employees).
I do like inexpensive flights however even if stockholder suckers and
borrowed money make it so!

Absolutely. However, the subject was about oil.
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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.

If you spend 10 bucks to make 20, you have a huge profit margin. The total profit is thrown around just get a rise out of people. If you spend eleventy trillion to make 40 billion, the profit isn't so good.

China and other developing Countries are really our biggest enemy in oil prices rising. And unfortunately, their demand isn't going to go down anytime soon.

Beats me. Ask "$" or "rock". Our greatest enemy......is the availability of easily exploited oil reserves. As these reserves become depleted and prices rise perhaps oil shale might become viable. However, get ready for sticker shock then.

BTW, I very familiar with ratios and returns.

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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.

Several times you’ve mentioned the high profits of oil companies, but you don’t seem to recognize that reviewing profit, without reviewing the margin on said profit renders any analysis meaningless. While our domestic resources in terms of oil reserves are in fact limited, we haven’t built any new refineries in MANY years (the last refinery was built in 1976). Given our consumption levels, there wouldn’t be enough oil to satisfy our needs. However, any increase in domestic drilling/refining will decrease our dependence on foreign markets, and we should see lower prices at the pump (After all, that’s what most of us are concerned with when discussing oil prices). The bottom line here is quite simple, OPEC determines prices by controlling supply (Oil production) and we have no ability to influence their decisions.

I provided the analysis above to simply show the specific costs that are associated with a gallon of gas. Most people aren’t aware of the high taxes that we pay on gas or the low levels of margin that are included in gas pricing. Two candidates for president are exploiting the uninformed by using “High Profits” and hinting that that those profits are the sole reason for high energy prices.

Exxon 2007 results using GAAP:

$ 404 Billion Revenues

$ 334 Billion Expenditures

$ 70 Billion Before Tax Profit

$ 40 Billion After Tax Profit - ROI of about 12.16% (simplified)

We are making "$" look good by responding to his blog.

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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.

And their margin is currently 10.89%. The pure profit figures are a function of their volume.

Click here

If you were starting a new company and your initial analysis projected a 10.89% margin - odds are that you won't invest in that business.

Just for comparison purposes, Click here for Microsoft's profit margin.

EDIT: Fixed Link

Yeah, I know that the higher the gas price goes the more taxes the states rack up---they take a percentage, not a fixed fee per gallon.

The crude cost has tripled, whether it is 70% of the cost or not!

Ever wonder why it cost the same percentage of the higher price as the lower price of oil? For the oil companies, that is?

You either work in the business, or know how to present numbers!

That is all I heard when they ran in 06...how much has it gone up since then? I think the Liberal Media has figured out WASHINGTON has ZERO to do with the cost of gasoline.

The Dems couldn't close an umbrella...

You're a fine one to talk. Do you remember your post:

And take your avid cyclist with you. IT will help to clear the trash blocking traffic every day. One less sissy biker will not be missed.

Some if us do use bicycles to commute with.

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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.

Yeah, it would be $5.20 per gallon ($156.00 to fill an SUV) but you see you would get an instant raise in your paycheck for the amount of whatever taxes you had been paying to pay for the gas!
Oh, sorry, that isn't true is it?
Well, someone is supposed to give everyone a check to pay some of the sales tax (federal only). The state sales and other taxes would still be 10-12% more.
You could even get payday loans against your next six federal prebates at 40% interest! And the prebates will sure put the liquor stores, lottery, restaurants, and cigarettes back inti business. All gone in two days with 29 more to go in the month!

Barack Obama believes that we must move beyond our simple fixation of investing so many of our transportation dollars in serving
drivers and that we must make more investments that make it easier for us to walk, bicycle and access other transportation alternatives.

I can hardly wait.
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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.

I think it's so cool that you two share the same thought processes!!

I don't know Mr. sniffles! Or Mrs. Sniffles.
However if you are interested in "same" thought processes---just read about 80% of those on here!
Reminds me of the "Stepford Wives." (What he, she, said!)

They share more than the same thought processes. Just "Main Stream."

Good observation. What is your diagnosis?

I'm afraid it's terminal.

Aaaaa ... I left out a word.

Just ask "Main Stream."

For me and for you. Just a matter of the dates!

asking me for a date? What will "Main Stream" say!

Hey!

Do you want to join us?

Hutch's description of the $$$$ buying one drink but asking for multiple straws (or something similar) still makes me laugh.

Hope you're doing well. $ageless tries to make more sense than Bonker$. Do you think that he's successful?

I'm doing good, hope you are too!
Dollar/sage/et al and half-dollar Hutch talking back to them, always make me laugh.

I think dollar/sage/bonkers all of those guys make sense sometimes. Really!

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