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Gasoline Taxes Per Gallon Are Almost 7 Times ExxonMobil's Profit: 42 cents vs. 7 cents for Q1
Right Mind ^ | 4/28/11 | Mark J. Perry

Posted on 04/30/2011 10:17:21 AM PDT by Clint Williams

Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan

This is from his site: Carpe Diem

The map above from API shows gasoline taxes by state (combined local, state and federal), which range from a low of 26.4 cents per gallon in Alaska to a high of of 66.1 cents per gallon in California, averaging 48.1 cents per gallon across all states. How does that compare to oil company industry profits per gallon?

According to this post on Exxon Mobil's Perspective Blog , "For every gallon of gasoline, diesel or finished products we manufactured and sold in the United States in the last three months of 2010, we earned a little more than 2 cents per gallon. That’s not a typo. Two cents."

Update: ExxonMobil is now reporting that for its retail gasoline operations in the U.S., it made an average profit of 7 cents per gallon during the first quarter of 2011.


The chart below shows the difference graphically:
 

P


TOPICS: Business/Economy; Government
KEYWORDS:

1 posted on 04/30/2011 10:17:24 AM PDT by Clint Williams
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To: Clint Williams

Sure puts things in perspective.


2 posted on 04/30/2011 10:23:04 AM PDT by DeoVindiceSicSemperTyrannis (Want to make $$$? It's easy! Use FR as a platform to pimp your blog for hits!!!)
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To: Clint Williams

Yup. And the unwashed masses just lap up that the “greedy oil companies need to pay their fair share”.


3 posted on 04/30/2011 10:29:10 AM PDT by TheZMan (Just secede and get it over with. No love lost on either side. Cya.)
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To: Clint Williams

And all they had to do for that $0.48/gallon was to demand it and collect it.

Such a deal.


4 posted on 04/30/2011 10:29:45 AM PDT by umgud
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To: Clint Williams
Individual station owners pay taxes too.

ML/NJ

5 posted on 04/30/2011 10:33:18 AM PDT by ml/nj
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To: Clint Williams

Medieval serfs got to keep 1/3 of what they brought in. We’ve come to the end of the road to serfdom, and are pressing onward.


6 posted on 04/30/2011 10:34:39 AM PDT by jmcenanly ( "We pay a person the compliment of acknowledging his superiority whenever we lie to him." -Samuel)
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To: Clint Williams

If Exxon Mobile can survive and be as big as it is on $.07 profit, why is government broke when they collect $.48 per gal PLUS all the other taxes that are in many cases on average a greater percentage as the tax/cost on gasoline?


7 posted on 04/30/2011 10:45:24 AM PDT by EGPWS (Trust in God, question everyone else)
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To: TheZMan

“Yup. And the unwashed masses just lap up that the ‘greedy oil companies need to pay their fair share’”.

They used to post the amount of tax per gallon on the pumps here in California. Now I know why that is no longer required. Also, as the price per gallon goes up the 9% sales tax goes up.


8 posted on 04/30/2011 10:49:15 AM PDT by forgotten man (forgotten man)
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To: Clint Williams

Btt


9 posted on 04/30/2011 11:00:08 AM PDT by An American in Turkiye
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To: EGPWS
If Exxon Mobile can survive and be as big as it is on $.07 profit, why is government broke when they collect $.48 per gal PLUS all the other taxes that are in many cases on average a greater percentage as the tax/cost on gasoline?

Government's response: This is proof that we need more than $.48 per gallon.

10 posted on 04/30/2011 11:03:28 AM PDT by scott7278 ("...I have not changed Congress and how it operates the way I would have liked..." - BHO)
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To: Clint Williams

BTTT


11 posted on 04/30/2011 11:03:45 AM PDT by hattend (How much do you have to invest in the future before you've spent it and no longer have one? - Steyn)
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To: Clint Williams

Hmmm. Any idea how much total dollars are brought in each year and decade to the US treasury for combined energy sources?


12 posted on 04/30/2011 11:20:14 AM PDT by HeartlandOfAmerica (Insane, Corrupt Democrats or Stupid, Spineless Republicans - Pick America's poison.)
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To: Clint Williams

Good info.


13 posted on 04/30/2011 11:21:01 AM PDT by FourPeas
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To: Clint Williams

What I want to know is how the highways can all be going to hell in a hand basket when gasoline taxes are so high. What percentage of gasoline taxes actually end up spent on the highways?

Not only is the tax on gasoline way out of hand, we pay tax on a full gallon of gasoline but only get 85 or 90 percent gasoline. What a ripoff all the way around. Tax us, give the tax money to democrat fascist pals in the ethanol club, then tax us on the ethanol as if it’s a one to one replacement for gasoline. Adjust the figures on that map to reflect what percentage of the fuel you get at the pump is actually gasoline rather than ethanol and you have the real tax per gallon of gasoline.


14 posted on 04/30/2011 11:46:39 AM PDT by Rashputin (Barry is insane., so handlers keep him medicated and on the golf course.)
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To: FourPeas

Very good info.


15 posted on 04/30/2011 11:48:15 AM PDT by Jeff Winston
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To: Clint Williams

Those figures are not exactly true!


16 posted on 04/30/2011 11:51:24 AM PDT by eastforker
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To: Clint Williams
Shouldn't the title read: Gasoline Taxes Per Gallon Are Almost 7 Times Exxon Mobil's Profit: 48 cents vs. 7 cents for Q1
17 posted on 04/30/2011 11:52:06 AM PDT by mountn man (The pleasure you get from life, is equal to the attitude you put into it.)
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To: FourPeas

Not really!


18 posted on 04/30/2011 11:55:05 AM PDT by eastforker
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To: EGPWS

Mostly smoke and mirrors.


19 posted on 04/30/2011 11:58:59 AM PDT by eastforker
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To: Clint Williams

I’ve long known this, and talked about it.

If the GOP gave a crap about us, they would have proposed and followed through with a vote to cut the taxes out.

But no.


20 posted on 04/30/2011 12:12:22 PM PDT by EvasiveManuever (Shakespeare got it wrong. Not the lawyers... journalists.)
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To: Clint Williams
govt.: no risk / no investment, but all the spoils.

The perfect sweetheart deal.

21 posted on 04/30/2011 12:27:40 PM PDT by Trajan88 (www.bullittclub.com)
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To: EvasiveManuever

They need to at least end the additional tax on diesel fuel that was started during the Clinton administration. I forget how much it is, something like six or seven cents higher than on gasoline, but until it started diesel cost less per gallon than gasoline. In fact, it cost a good bit less than just the difference in taxes for a long time. They should be rewarding people for using diesel engines, not penalizing them.


22 posted on 04/30/2011 1:04:43 PM PDT by Rashputin (Barry is insane., so handlers keep him medicated and on the golf course.)
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To: Clint Williams
Simple math says that is a 7% profit. I would love to know how much local, state and Federal taxes they paid as a percentage, especially Federal. I would also like to know how much they pay for licenses, permits and fees to the Federal Government.

If they want to do away with the subsidies for the oil companies, I hope the spineless, gutless, gonad deprived Re-puke-licans add foreign oil companies and nations to the list. Tell Petrobas and Saudia Arabia to pound sand and kiss a pig.

23 posted on 04/30/2011 3:06:01 PM PDT by cashless (Unlike Obama and his supporters, I'd rather be a TEA BAGGER than a TEA BAGGEE.)
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