Price of Gas/ Cost of Gas

[red-beard]

Locally here is the price:

$3.49/gallon price

And this works out to:

$2.62 cost raw crude oil per gallon ($110/barrel, 42 barrels per gallon) (75.1%)
$0.19 cost refining, transportation and lost product in refining, marketing, taxes paid, etc. (5.4%)
$0.15 retailer pre-tax profit (4.3%)
$0.15 refinery/oil company after tax profit (4.3%)
$0.18 federal tax (5.2%)
$0.20 state tax (Texas) (5.7%)

The costs of the crude and the taxes are exact. The $0.49 in cost and profits, the mix might be a little different.

So, who is making the most from a gallon of Gas? The Friggen people pumping crude from the ground and selling it. In most places, that is a government (Iraq, Iran, Saudia Arabia Kuwait, Venezula, Mexico, etc.)

The Gas Tax holiday is BS. We need to focus on where the real costs are, not where we THINK they are!

[sammyg2]

There is plenty of oil to go around. OPEC is pumping more than enough to supply the demand. Supplies are roughly the same as they have been for a long time.
So why has the price of oil almost 8 times what it was 10 years ago?
I say market manipulation by speculators and their shill "analysts" who not only manipulate mis-information, they manipulate the idiot puppets in the media who spread this mis0information for them.
They jack up the price by making up or exaggerating a negative indicator, and the price goes up, they sell.
The price slowly falls a few dollars, they buy. then they spew more BS and the price jumps a few bucks, they sell. Lather-rinse-repeat.
In order to maximize their profits, they always tend to over-do the BS so the price goes up further than it goes down. that's how we got where we are.
This isn't some tin-foil hat conspiracy, I follow the oil and gas markets a whole lot. I study them several times a day and have been for decades. I've watched this recent pattern closely. I've tested it.
I've actually predicted the moves and made some decent money at it, but don't trust them enough to play their game. Occasionally they shake off the clingers-on just like a dog shakes his wet fur and don't want to be a small fish in their big pond. It's like a pyramid scheme, the little fish and late-comers are the ones that lose.
What really bothers me is that sooner or later (i say sooner) they will decide to move on and the oil futures market will fall dramatically and lots of the more greedy little investors will lose everything.

[BeyGon]

We don't drill new wells, we don't build new refineries, the oil we get from Alaska we sell to Japan, If the lib greenies get their way the Polar Bear and Walurus will be an endangered item and there will NEVER be any more drilling up north.
For years I heard people complain about our gas prices, they should be more in line with the euro prices. They are getting their wish and still complaining.

[jyl]

I defer to, and would agree with, sammy on this.

Our energy analyst tells me the financial markets for oil are far larger than the physical markets. If true, seems that would allow the tail to wag the dog. There is a long history of commodities bubbles and busts, from silver to gold to oil. I doubt it is different this time. I admit I haven't studied all the arguments and data on either side, so this is only my "feeling". But, again, I defer to someone who has studied the data, like sammy.

[Shaun @ Tru6]

Seems Obama is the only one who gets it.

whoa, hey, what's that.....


hey, a sale at Walmart, let's gooooooooooooo!

McCain and Hilary are douche bags for selling a quick fix plan to the American public to get a few votes. They represent everything that is wrong with this country.

[Normy]

When the current Republican president came to power in 2001, the price of premium unleaded was $1.56 in Fort Lauderdale. Today? It is $3.89.

The current occupier of the White House is only there because of his family, which consists of one former President. This family made their money in oil, basically maneuvering to own large parts of thousands of oil wells in Texas. Ask dubya how many "eighths" he owns....

OK: we "elect" a president who has oil industry in his background. When he is no longer re-electable, suddenly the price of oil, his family business....goes up 300%.

Hello?

-This bastard deserves to be IMPEACHED! There's no way in hell that this guy isn't partially behind all this price rise. The oil companies are recording record profits; How can this guy stay in power with all this crap going on around him? And how can anyone in any real conscience vote for the old man McCaine?

N?

[gprsh924]

Did you not read any of Red Beard's post? The oil producing companies are making all the money not the oil companies (even $36B is only 10% profit). Yes Bush is to blame, not the weak dollar or anything else.

[BeyGon]

Originally Posted by Normy

When the current Republican president came to power in 2001, the price of premium unleaded was $1.56 in Fort Lauderdale. Today? It is $3.89.

The current occupier of the White House is only there because of his family, which consists of one former President. This family made their money in oil, basically maneuvering to own large parts of thousands of oil wells in Texas. Ask dubya how many "eighths" he owns....

OK: we "elect" a president who has oil industry in his background. When he is no longer re-electable, suddenly the price of oil, his family business....goes up 300%.

Hello?

-This bastard deserves to be IMPEACHED! There's no way in hell that this guy isn't partially behind all this price rise. The oil companies are recording record profits; How can this guy stay in power with all this crap going on around him? And how can anyone in any real conscience vote for the old man McCaine?

N?

Cqn you find something to show how much stock in or how many wells GW owns, can you show some proof of his ownership? If he is as stupid as the silly libbys say he is, how is he putting something like this over on them?

Anyone with a shred of sense will vote for McCaine just because he isn't Obama or The Clintons.

[Lothar]

Originally Posted by red-beard

$2.62 cost raw crude oil per gallon ($110/barrel, 42 barrels per gallon) (75.1%)

Once again, I must point out a problem with this calculation. If it takes 42 barrels of crude to product one gallon of gasoline, the entire cost of that barrel cannot be assigned to just gasoline when there are a myriad of other components that are derived from that $4620 woth of oil.

If 42 barrels is 2310 gallons of crude, and of that volume, you take out one gallon of volume which becomes gasoline, there is 2309 gallons of other stuff that generates significant value in the petrochemical industry.

* Petroleum gas - used for heating, cooking, making plastics
o small alkanes (1 to 4 carbon atoms)
o commonly known by the names methane, ethane, propane, butane
o boiling range = less than 104 degrees Fahrenheit / 40 degrees Celsius
o often liquified under pressure to create LPG (liquified petroleum gas)
* Naphtha or Ligroin - intermediate that will be further processed to make gasoline
o mix of 5 to 9 carbon atom alkanes
o boiling range = 140 to 212 degrees Fahrenheit / 60 to 100 degrees Celsius
* Gasoline - motor fuel
o liquid
o mix of alkanes and cycloalkanes (5 to 12 carbon atoms)
o boiling range = 104 to 401 degrees Fahrenheit / 40 to 205 degrees Celsius
* Kerosene - fuel for jet engines and tractors; starting material for making other products
o liquid
o mix of alkanes (10 to 18 carbons) and aromatics
o boiling range = 350 to 617 degrees Fahrenheit / 175 to 325 degrees Celsius
* Gas oil or Diesel distillate - used for diesel fuel and heating oil; starting material for making other products
o liquid
o alkanes containing 12 or more carbon atoms
o boiling range = 482 to 662 degrees Fahrenheit / 250 to 350 degrees Celsius
* Lubricating oil - used for motor oil, grease, other lubricants
o liquid
o long chain (20 to 50 carbon atoms) alkanes, cycloalkanes, aromatics
o boiling range = 572 to 700 degrees Fahrenheit / 300 to 370 degrees Celsius
* Heavy gas or Fuel oil - used for industrial fuel; starting material for making other products
o liquid
o long chain (20 to 70 carbon atoms) alkanes, cycloalkanes, aromatics
o boiling range = 700 to 1112 degrees Fahrenheit / 370 to 600 degrees Celsius
* Residuals - coke, asphalt, tar, waxes; starting material for making other products
o solid
o multiple-ringed compounds with 70 or more carbon atoms
o boiling range = greater than 1112 degrees Fahrenheit / 600 degrees Celsius

[red-beard]

Where are you getting your info?

Petroleum Products Yielded from One Barrel of Crude Oil in California

Product Percent of Total Finished Motor Gasoline 51.4% Distillate Fuel Oil 15.3% Jet Fuel 12.3% Still Gas 5.4% Marketable Coke 5.0% Residual Fuel Oil 3.3% Liquefied Refinery Gas 2.8% Asphalt and Road Oil 1.7% Other Refined Products 1.5% Lubricants 0.9%

One barrel contains 42 gallons of crude oil. The total volume of products made from crude oil based origins is 48.43 gallons on average - 6.43 gallons greater than the original 42 gallons of crude oil. This represents a "processing gain" due to the additional other petroleum products such as alkylates are added to the refining process to create the final products.
Additionally, California gasoline contains approximately 5.7 percent by volume of ethanol, a non-petroleum-based additive that brings the total processing gain to 7.59 gallons (or 49.59 total gallons).



Source: California Energy Commission, Fuels Office, PIIRA database. Based on 2004 data.