House OKs bill to curb gas gouging

The Washington Times ^ | May 24, 2007 | Patrice Hill

[Kaslin]

what do you call it when gas taxes amounting to close to a DOLLAR A GALLON in many states is called?

What we need to do is stop Congress from tax gouging

[greasepaint]

10% comes from when?
1998?

its not 1998 anymore.

refinery margins are at record highs

[redgolum]

They are, but remember energy is not a high margin business like say, bottled water.

[cweese]

EOM made 10% profit last year (2006). They spent somewhere around $400 Billion to earn ~$40 Billion.

[kellynla]

“WTF are you talking about?

the refinery markup is at least 75 cents?”

According to EIA, TOTAL refining COSTS & PROFITS amount to less than 20% a gallon.

Now if you are smarter than the EIA and know something they don’t;
please share your wisdom with us all.

[greasepaint]

to 43

a long time ago, refineries were a lot like a supermarket.
big sales, but thin margins.

no longer

[never4get]

I point out the obvious...your desire for profit overrides your rationale judgment. I kind of had a feeling you and others who support the oil industry as just “supply and demand economics” have ulterior motives and rationale for doing so. No wonder you do not see a conflict in elected public officials owning oil stocks in an industry they have regulation duties a conflict....it puts money in your pocket. Well, cweese, I guess so long as you get your palms oiled so be the legality of the situation. Mmm, now figuring you out makes a lot more sense.

[greasepaint]

the last time i looked, commodity-wholesale gasoline
was $2.30, 96.60 a barrel.

WTI was 65 a barrel.

do the effin math.

[never4get]

“What we need to do is stop Congress from tax gouging”

I am in complete agreement with that as well.

[greasepaint]

to post 44

EOM, ok, they made 40B

how much investment, did that take?

[never4get]

Give up...this industry gives them there warm milk, cookies and a nice pat on the head before they go to bed every night...They could have Big “ol oil give em a swift kick right in the groin and they would say it does not hurt....

[cweese]

Well, if they spent $400B to earn $40B...

[cweese]

YOU wish to discuss rationality? LOL!

[thackney]

According to EIA, TOTAL refining COSTS & PROFITS amount to less than 20% a gallon.

Now if you are smarter than the EIA and know something they don’t;
please share your wisdom with us all.

Not at all. EIA has the wisdom we need.

You are including COSTS in your number. My response was only concerning PROFITS.

[greasepaint]

I give up.

please tell me the number.

just for the record,
I don’t begrudge anyone making
10% ROI.

[kellynla]

No, you do the "effin" math, genius!

[thackney]

-—10% comes from when?
1998?

its not 1998 anymore.——

Perhaps you should update yourself with the costs associated in today’s petroleum market.

2006 ExxonMobil
$39.5B profit on $365.5B revenue, 10.8% profit

http://www.sec.gov/Archives/edgar/data/34088/000119312507042435/d10k.htm#fin59931_2

1st Quarter 2007 ExxonMobil
$9.2B profit on $87.2B revenue, 10.6% profit

http://library.corporate-ir.net/library/11/115/115024/items/242049/1Q07_Earnings_Press_Release.pdf

2006 ConocoPhilliops
$15.5B profit on $183.7B revenue, 8.4% profit

http://www.conocophillips.com/newsroom/news_releases/2007+News+Releases/012407.htm

1st Quarter 2007
ConocoPhilliops
$3.5B profit on $41.3B revenue, 8.6% profit

http://www.conocophillips.com/newsroom/news_releases/2007+News+Releases/042507.htm

[corlorde]

The should start with the burdensome taxes levied at all gas using Americans.

[corlorde]

There you go again with your pesky facts...knock it off, it’s not fair to the emotionally minded and their feelings

;->

[greasepaint]

PLEASE tell me the return-on-investment.

PLEASE

nobody cares about thruput,
the important numbers
are PROFIT, and INVESTMENT