Sunday, June 15, 2008

What We Pay For A Gallon of Regular Gasoline

*****UPDATE***** Adam in the comments points out that I don't explain the profits. Sorry. i do that a lot, start a conversation in the middle. I read the stuff at the link and then only put up one graphic. So here is the other
Energy Information Administration -



Can we have no more asshattery about obscene oil company profits now?


adamg said...

Um, OK, so what the oil companies are saying is they make NO profit? Because I don't see "profit" listed on that chart.

Mrs. K said...

Friday I left Vegas at 2pm for Beverly Hills. It is a 5 hour drive, but Mr. K's brand new concept was having their trial run before opening day next Friday. Anyway, gas in LA is OVER $5!!!!!! It cost me more than a hundred bucks to fill my truck there. I am curious exactly what the cut off is? So, I think I will either move to Venezuela where its like a quarter per gallon, or buy a Honda GX.

BostonMaggie said...

Adam - I suppose that wasn't enough information. You see the other graphic that was available made it more clear. I'll add it.

Stella said...

Maggie, Mrs. K is dead on. If you use premium, get those fivers out.

Here's a little asshattery for you: $10.9 billion, the profit still ranks as the second-biggest for a US company - the only larger result in a three-month period was the $11.7 billion Exxon Mobil posted in the final three months of 2007.

You know I'm looking forward to that graphic. Hope you're doing well, Maggie.


BostonMaggie said...

The point of the post is that the high cost of gasoline has very little to do with the profits of American oil companies. Making a profit is the American way. Windfall profit taxes will not help. Gas tax holidays will not help.

There are several reasons why the price of oil is high and the Democrats don't want you to think about them. Those reasons have solutions. Those solutions are either outside of our control (how much the Saudis pump) or painful for the Dem's core (drilling here/drilling now). Worst of all they highlight the fact that America must act as the world's policeman for at least the short term. Imagine the pain at the pump should US Naval Forces leave the Gulf. Imagine the good on so many levels that could be done if we could straighten out the nonsense in Nigeria.

Oil could soar to a thousand dollars a barrel and I wouldn't consider living elsewhere. But Mrs. K's other point is valid, smaller more fuel efficient vehicles are a part of the answer.

If you want cheaper gas in the short term while you search for the alternatives long term -

Build refineries.
Secure the Gulf
Do what is necessary to stabilize Nigeria.

Stella said...

Oh, you're absolutely right about gas tax holidays. I hold that "solution" in about as high esteem as giving citizens $600 each when our nation is $9.3 million in debt.


If I may speak for my fellow Dems, we are well aware of how much is out of our control. It is one of the reasons why, believe it or not, we are less far apart in that than you might think. Please be aware that Democrats are not blind to the situation in the Middle East. We, too, frequently discuss various solutions among ourselves.

I spend a lot of time talking to military personnel who were deployed in Iraq: they know a lot more than I do. I spent a long time discussing the situation in Iraq with a veteran who was at a prison camp (dealing with 135 degree weather). Quite an eye opener, Maggie. I feel great compassion and pride for our soldiers, even if I don't agree with this war. Nigeria is a situation I need to study more closely, but I am certainly aware of the issues.

As concerns drilling and building refineries, these are not permanent solutions. In the 1970s, we built windmills to generate power and save a great deal of energy in California. Oil and natural Gas are finite resources, and ethanol has severely hurt the amount food crops. There's already enough ecological damage in the ocean: drilling would hurt the environment even worse. For this reason, renewable resources should be our primary goal.

I, too, like Mrs. K's idea. Have you see Norway's green car. Great concept. I'm a public transportation aficionado, so I get good mileage for my money.