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| Name: |
GoneFishin
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| Subject: |
OIL
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Date:
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3/1/2012 8:36:03 PM
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This is rather interesting with all interest in drilling offshore. Bloomberg News wrote that the U.S. exported more gasoline, diesel and other fuels than it imported in 2011 for the first time since 1949, the Energy Department said.
Shipments abroad of petroleum products exceeded imports by 439,000 barrels a day, the department said today in the Petroleum Supply Monthly report. In 2010, daily net imports averaged 269,000 barrels. U.S. refiners exported record amounts of gasoline, heating oil and diesel to meet higher global fuel demand while U.S. fuel consumption sunk.
The refiners buy oil from other countries as the raw product, refine it, and export what we don't need. One has to wonder if the high price of gasoline is due to the traders as the consumption in the states declined..
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| Name: |
Barneget
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| Subject: |
OIL
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Date:
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3/1/2012 8:49:58 PM (updated 3/1/2012 9:04:37 PM)
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As oil hit $110 and MGM wholesale closed up 4 cents/gallon today. As the $110 oil gets into the supply chain, retails have to be in the $4.11/gallon PLUS taxes and fees to cover it. Did you know the annual costs to fund the Dept of Energy exceeds the combined value of all producer deductions taken by the domestic petroleum industry?
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| Name: |
water_watcher
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| Subject: |
what is your point?
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Date:
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3/1/2012 8:51:08 PM
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Isnt exports a good thing? The cost of oil is do to Obama restrictions is the problem. We could import less if he would allow drilling. The reason we are exporting more refined oil is the low demand due to the weak Obama economy.
Get a brain.
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| Name: |
copperline
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| Subject: |
OIL
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Date:
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3/1/2012 10:32:24 PM
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When i heard the US was a net exporter of refined gas, but we expect a rise to $5 a gal, it really made me wonder what was wrong with the system. I don't understand why the Oil Companies shouldn't hold prices down to promote US economic growth, and sacrifice some of their profits. We have certainly supported their success over the years.....
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| Name: |
Barneget
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| Subject: |
OIL
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Date:
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3/1/2012 10:56:10 PM
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Why limit it to oil companies? Along the line of supporting success over the years, perhaps public sector employees would be willing to return their earnings, or accumulated benefits, and promote private sector ( the source of the revenue used to pay public sector employees) growth.
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| Name: |
copperline
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| Subject: |
OIL
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Date:
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3/2/2012 12:42:38 AM
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I thought higher gas prices were a direct threat to the economy, so keeping that price down would be a stimulus. It is true that US consumers have made the oil companies very successful. But somehow taking back salary & benefits from large groups of taxpayers would help? That would directly affect the ability of those employees to be consumers, surely not a good idea.
Come to think about it, getting the Oil Companies to voluntarily reduce their profit margins out of patriotic duty is just about as likely as getting federal workers to return their paychecks and reimburse their employer for benefits. I won't hold my breath.
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remember, there have been no new refineries or expansions approved under obama. was was even ordered shut down.
Down blame oil companies for the poor policy of obama. lack of domestic drilling is the main problem. much of the gas exports are contracts tired to oil imports. can't have both.
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| Name: |
Tall Cotton
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| Subject: |
OIL
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Date:
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3/2/2012 9:06:15 AM
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What are the taxes collected on each gallon, federal, state and local, compared to the net profit per gallon for the oil companies?
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| Name: |
Barneget
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| Subject: |
OIL
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Date:
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3/2/2012 9:37:33 AM
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Federal, State and local taxes and fees, including delivery which, with fuel surcharges of approx .035, runs right at $.41/gallon. Add in the business license, which in AL is tied to both gallons sold AND retail sales dollars, for another penny and a half, for a total of $.425/gallon.
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and the oil company profit is typically less than .04 cents per gallon ... who is robbing who. Based on listening to Obama, it is the oil companies that are screwing us ....
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