Quote:
Originally posted by bryanthompson
Profit to oil companies is somewhere around $0.10/gallon... average tax across the country on 1 gallon of gas: $0.49.
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I've been wondering about this. Aren't profits based on percentages?
i.e.
$1.00 gas and 10% profit = 10 cents
$2.00 gas and 10% profit = 20 cents
Thus explaining the 'record profits' this last year? Not that it matters, but I have no problems with oil companies making craploads of money. Its supply and demand.
I think there is also some sort of misconception about 'no new refineries'. The count may have not gone up, but capacities have.