paulrevere: blog 
paulrevere's blog
the truth hurts sometimes
Published May. 22, 2008
Saw this on Michelle Malkin's site, and I loved it. I'm tired of politicians whining about "greedy" oil companies when THEY are the greedy ones. The government does NOTHING to drill for oil or any of the byproducts of it, namely gasoline...NOTHING! They just tax and spend!
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GOLO member since July 3, 2007
May 22, 2008 2:18 p.m.
GOLO member since January 23, 2008
May 22, 2008 1:56 p.m.
GOLO member since July 17, 2007
May 22, 2008 1:53 p.m.
There are 42 gallons in a barrel of oil. If a refiner purchases oil at the current price he is paying about $3.16 per gallon for the oil. When you figure in the gas tax - 43 cents in NC - the cost you pay at the pump can not be less that $3.59.
The price I was seeing this AM was $3.89 per gallon. That means that for thirty cents, the oil companies are refining and shipping the gas to the local station. Also coming out of that 30 cents is profit for both the company and the retailer (if any).
GOLO member since July 17, 2007
May 22, 2008 1:50 p.m.
For those who don't understand simple economics, it's supply and demand.
Since the 70's America has gone from a one-car family to two and three car family. Countries like Korea, China and India had a very small effect on the demand side of the equation. Now those countries are becoming just as oil dependant as the U.S.
When the demand goes up and supply (capacity) remains unchange, the price goes up.
So who's to blame? Is it the oil companies? To some extent, yes. I place most of the blame on the gov't. Here's why.
First, the gov't could have required more fuel efficient cars to be brought to the market. It would be good for the planet and our energy independence.
Second, the gov't could allow oil companies to build refineries and drill domestically.
The problem has to be addressed on both the supply and demand sides of the equation.
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May 22, 2008 1:47 p.m.
GOLO member since August 16, 2007
May 22, 2008 1:42 p.m.
GOLO member since March 9, 2008
May 22, 2008 1:42 p.m.
GOLO member since August 31, 2007
May 22, 2008 1:39 p.m.
GOLO member since February 22, 2008
May 22, 2008 1:39 p.m.
May 22, 2008 1:35 p.m.
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