Quote:
Originally Posted by jyl
Not correct.
US gasoline consumption/day = 388.6MM gal/day = 141.8BN gal/yr
Federal gasoline excise tax $0.184/gal
0.184 * $141.8BN = $26.1BN Fed gas tax/yr
vs
Profits of US integrated oil companies in 2007 = $127.99BN
http://www.eia.doe.gov/basics/quickoil.html
http://www.eia.doe.gov/bookshelf/brochures/gasolinepricesprimer/
http://fpc.state.gov/documents/organization/103679.pdf
Granted, if you include total state taxes on gasoline, you can roughly double that $26.1BN. And the $127.99BN integrated oil company profit includes $45BN from Royal Dutch Shell and BP, some of which (maybe 1/3?) was earned outside the US.
So make those adjustments if you like.
$26.1BN * 2 = $52.2BN total federal, state, local tax on gasoline
vs
$127.99 - ( $45BN * 0.33 ) = $112.9BN total integrated oil company profit less amounts earned ex-US
Still not even close.
Disdain for the govt is fine but let's get the numbers right. |
horsepuckey.
On a $4 gallon of gas in California, we pay around 69 cents a gallon in taxes. When you add up the federal, state, and sales tax it's qute a bit on money.
Then you add the income taxes for the oil company, the taxes on every single barrel of oil that is pulled from the ground or imported, and all the countless other taxes and fees etc, the government is making one hell of a lot more off every gallon that the oil companies are. Saying otherwise is complete rubbish.