OT: Gas Tax Holiday Wont Work

In message news:0flZj.7705$HJ5.6697@trnddc01, "Don't Taze Me, Bro!" burned some brain cells writing:

Time-Warner has a higher profit margin than Exxon.

Reply to
Klark Kent
Loading thread data ...

Actually, the added income to refiners will be about $0.30 per adult.

Reply to
Jeff

What oil company's profit? The refiners are having trouble passing on the increased cost of crude to consumers (Valero actually lost money last quarter), but companies that drill for oil are making large profits.

Jeff

Reply to
Jeff

Klark Kent wrote in news:Xns9AA6A0C3210A8KlarkKent@66.250.146.128:

Given that gas stations jack the price of gas up 4-8cents a gallon in between deliveries, it stands to simple reason that they are making a huge profit.

Nevertheless, the producer price index shows wholesale gasoline prices increased 3.2% in April. Retail gasoline prices increased between 6% and

12% in that same time depending on where you live.

Also, an analysis by the BEA (sorry, don't have a link) shows that the gasoline retailers, on average, were making about $0.01/gallon profit when gas was at $3.00/gal for regular national average.

That's a penny per gallon profit. And it has nothing to do with the taxes.

But I will grant you that the distributors make the most profit, roughly

10% of the total retail cost is profit for distributors. Another 10% of the retail cost is profit for refiners.

You haven't made a single point yet so there is no argument to lose. When you finally decide to make a point, I'll consider this an argument. Until then, I am simply trying to educate you. Some people seize such opportunities to better themselves. Others choose not to. Like Ray the RedSox fan who continues to insist that 12 is 600% more than 2 no matter how many people try to explain that "more than" means subtraction and not division.

I did not call you a name. You spoke from sheer ignorance and I pointed it out. This is no different from your original post in this thread in which the first word you wrote was "bullshit." That's a mighty fine double-standard you got going there. Whoops - now you'll accuse me of calling you a name again.

Reply to
theBZA

And on a related note, your mother wears Army boots. (Google "non sequitur" if you don't get that)

Go Blazers !

Reply to
Swillabrew

No, it would help the refiners, because they would just increase the cost of the fuel by the amount of the tax decrease.

Jeff

Reply to
Jeff

Weezy, that is probably the least intelligent comment you've ever posted here, & that's saying a lot. Are you into Rush's Oxy?

Go Blazers !

Reply to
Swillabrew

"Swillabrew" wrote in news:5vednXezQZltd6jVnZ2dnUVZ snipped-for-privacy@scnresearch.com:

It's not only a non-sequitur but it's totally irrelevant. Profit "margin" has nothing to with who is gouging whom. If Exxon jacks their wholesale prices up 40%, their revenue stream increases as does their income so their "profit margin" remains about the same. If OTOH, they fired a ton of people so their net income went up but their revenue stayed about the same, then their "profit margin" would go up. But hey, Klark hasn't gotten one thing right yet.

Reply to
theBZA

Who told you to say that? LOL

Reply to
Mike hunt

According to published reports the oil companies are earning a profit of around eight cents a gallon. The feds take in more than that and the states on average take in even more, around 32C ;)

Reply to
Mike hunt

I think it's more of a psychological thing. No, I don't believe it'll affect me much at all, but my guess is a lot of people will like the sound of it & "buy" into it. Kinda like the tax rebate deal. Yeah, it was nice to get - but how much will it really affect my general finances & the overall economy - the big picture? A teensy amount. IMO.

Cathy

Reply to
Cathy F.

Agreed, but for his sake, I was refering to federal tax since that is what only the feds have control over.. and i over shot.

Reply to
Don't Taze Me, Bro!

Indeed the tax rebate was a psychological thing and most reps and senators couldnt vote against it during an election cycle. In the end the taxes will just go up, unfortunately.

Reply to
Don't Taze Me, Bro!

And you just proved that "word of mouth/I heard it on CNN/I'm too stupid to think for myself" works with some people.

Bill Putney (To reply by e-mail, replace the last letter of the alphabet in my address with the letter 'x')

Reply to
Bill Putney

To anyone who has ever listened to Rush, that's the type of thing he typically says as boldly as he can, really meaning it, but at the same time with tongue in cheek, the primary intent being to spin up the haters. It is not surprising that NPR would not comprehend the several facets of the quote, or pretend they don't, so as to emotionalize their audience as if there were no humor in it.

Bill Putney (To reply by e-mail, replace the last letter of the alphabet in my address with the letter 'x')

Reply to
Bill Putney

Are you speaking in raw dollars or in percentages. If percentages, that would mean they were only making 2% profit in '92? And are now only getting up to a barely respectable 9% by business standards?

Bill Putney (To reply by e-mail, replace the last letter of the alphabet in my address with the letter 'x')

Reply to
Bill Putney

My comments were projected at his comment that a higher percentage of the cost of gas goes to taxes rather than the station or oil company... which is complete and utter bullshit of course.

formatting link
Mobil earned more than $1,287 of profit for every second of 2007. The company also had its most profitable quarter ever. It said net income rose 14 percent, to $11.7 billion, or $2.13 a share, in the last three months of the year. The company handily beat analysts' expectations of $1.95 a share, after missing targets in the last two quarters.

Reply to
Don't Taze Me, Bro!

I don't understand that statement. If I'm selling something (whether retail or wholesale, doesn't matter) at $1 this week and next week I sell it for $1.40, and my total cost loads on the item stay the same at $0.90, my profit went from $0.10 to $0.50, my profit (in raw dollars) went up 400%. In percentages, my profit margin went from 11.111% (0.1/0.9 x 100) to 55.555% (0.5/0.9 x 100). That's 44.4444% increase in percent.

I'm no accountant, so what did I miss?

Bill Putney (To reply by e-mail, replace the last letter of the alphabet in my address with the letter 'x')

Reply to
Bill Putney

"Mike hunt" wrote in news:JtSdnT6xFfpac6jVnZ2dnUVZ snipped-for-privacy@ptd.net:

We could divide oil company profits by amount of gasoline sold. Exxon made

41B last year. Chevron made 19B. These are the two biggest oil companies in the US. US consumption last year was 142B gallons. $60B/142B gallons is 42 cents per gallon. And this does not include profits from Hess, Shell, BP, Lukoil, and any other oil company that sells gasoline in the US.

Next.

Reply to
theBZA

"Don't Taze Me, Bro!" wrote in news:Q0nZj.21778$4K5.2719@trnddc03:

And yet your figure was actually within the range given varying state and local taxes. I'd say it was perfectly representative.

Reply to
theBZA

MotorsForum website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.