Because the government isn't too bright collectively. I'm not saying that smart people don't work for the government, but the collective wisdom seems to be lacking.
Matt
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17 years ago
New Hyundai MUSCLE CAR !!!!!!
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17 years ago
Are you kidding me? The oil companies pump it out of the ground and sell it on the futures market. There is actually very little profit in selling the refined products. How do YOU think they make their money?
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17 years ago
That's the gist of it, but the actual margins are considerably lower than that, more along the lines of 10%.
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17 years ago
Brian Nystrom wrote in news:NEkCg.4036$Pp1.1368@trndny04:
I think you are pulling my leg. The gasoline futures price has not been above $2.24/gal. Considering that I don't know a single gas station owner making more than $0.01 on a gallon of regular (they don't make much more on mid-grade or premium either), where does all the rest go? Some to transportation, sure, but $0.75/gal.? I don't think so.
Before Katrina hit the "markup" between the futures price and the street price averaged $0.30/gal. Since then it is $0.70-$0.80/gal. Gee, I wonder where all the extra profit comes from.
Eric
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17 years ago
You're way too kind Matt!
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17 years ago
Brian Nystrom wrote in news:c0FCg.7808$Jg1.3697@trndny05:
NO, GREEDY OIL COMPANIES AND THEIR STOCKHOLDERS.
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17 years ago
Come on Eric, Exxon-Mobil made 10% profit on billions they risked. I own stock in E-M, and I'm by no means rich.