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Friday, November 11, 2005

Who’s Gouging Who?

By Rob on November 11, 2005 at 09:11 am
3 Comments
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As bureaucrats in Wahington continue their grandstanding indictment of the oil industry for "excessive profits" and "price gouging" keep in mind that, on average, American citizens pay $0.49/gallon in state and federal taxes.

Oil companies, on the other hand, have a profit margin of about $0.07 - $0.09/gallon.

So what's the real problem? Greedy oil company executives or greedy Washington politicians?

Comments

Avatar for The Whistler

When oil prices were low the lefties wanted to raise gas taxes because gas was too cheap.  I’m waiting for a lefty to admit that the government should tighten their belts because of the high gas prices.

In fact, I know local taxing entities are whining that they should raise taxes as their gas expense is up.

The Whistler on November 11, 2005 at 10:11 am
Avatar for robert108

A profit margin of 9% is not gouging.

robert108 on November 11, 2005 at 04:12 pm
Avatar for Seth Williams

Rob, Rob, Rob...you really have to stop trying to confuse the issue with facts, it gets in the way of all the good conspiracy theories.

Seth Williams on November 12, 2005 at 06:12 am
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