[Ansteorra] OT:Gas Prices going up thanks to IKE

[Bulgarelli Maria]

Actually Chiang is right.  The profit on gas is much lower than anyone thinks it is.  You have to remember we are not the only ones paying taxes on the gas.  The oil companies pay taxes to be allowed to refine the oil into gas.  By the time they are done paying that their profit is almost gone.
Maria


--- On Fri, 9/12/08, William Meriic <wmeriic at tx.rr.com> wrote:

> From: William Meriic <wmeriic at tx.rr.com>
> Subject: Re: [Ansteorra] OT:Gas Prices going up thanks to IKE
> To: "'Kingdom of Ansteorra - SCA, Inc.'" <ansteorra at lists.ansteorra.org>
> Date: Friday, September 12, 2008, 1:37 PM
> In NY, gas prices are far higher than the federal average,
> generally 30 - 40
> cents higher.  A lot of this is due to tax.  That is why
> many who live in NY
> City drive to NJ for gas where the taxes 27 cents/gallon
> lower!
> 
> Gas taxes According to:
> http://www.newyorkgasprices.com/tax_info.aspx
> 
> Gas tax in CA = 63.9 cents/gallon
> Gas tax in NY = 59.6 cents/gallon
> Gas tax in TX = 38.4 cents/gallon
> Gas tax in NJ = 32.9 cents/gallon
> 
> In one state in the north east (I cannot remember which),
> state law mandated
> that every fuel pump have a clear breakout of the costs
> involved in a gallon
> of gas at that station (federal tax, state tax, local tax,
> and the store's
> take).
> 
> I remember from somewhere that the gas station's take
> is generally less than
> 10 cents/gallon.
> 
> The big money is in crude oil and refining!  That is where
> Exxon for example
> makes $11.7 Billion per quarter
> (http://money.cnn.com/2008/02/01/news/companies/exxon_earnings/).
>  
> 
> To put this in perspective, Citigroup in the 4th quarter of
> 2007 only lost
> $9.8 Billion
> (http://www.economist.com/finance/displaystory.cfm?story_id=10534841).
> 
> Will Meriic
> 
> 
> -----Original Message-----
> From: ansteorra-bounces at lists.ansteorra.org
> [mailto:ansteorra-bounces at lists.ansteorra.org] On Behalf Of
> HE Chiang
> Sent: Friday, September 12, 2008 1:23 PM
> To: Kingdom of Ansteorra - SCA, Inc.
> Subject: Re: [Ansteorra] OT:Gas Prices going up thanks to
> IKE
> 
> Would that be profits or profit margin? There is a
> difference, you know. It 
> is my understanding that while the profits may be really
> big, their profit 
> margin is rather small. From what I have been given to
> understand their 
> profit margin is less than 10 cents a gallon, while the
> govt portion of the 
> price of a gallon is far more than that.
> Chiang
> ----- Original Message ----- 
> From: <faolon at sallegarnes.com>
> To: <cathal at mindspring.com>; "Kingdom of
> Ansteorra - SCA, Inc." 
> <ansteorra at lists.ansteorra.org>
> Sent: Friday, September 12, 2008 12:24 PM
> Subject: Re: [Ansteorra] OT:Gas Prices going up thanks to
> IKE
> 
> 
> > you know considering that Exxon's profit margin
> alone last quarter was
> > enough to buy every man, woman, and child in there
> world a happy meal from
> > McDonalds I at least want my happy meal. Barring that
> out here in West
> > Texas we have a 10 cent raise currently but it
> fluxuates every 2 to 3
> > hours.
> >
> > Ld Faolon
> 
> 
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