National Average Price of Gasoline Hits an All-Time High

[TheDeeble]

Saw this posted;

Oil companies makes about 10 cents on each gallon of gas before taxes. Federal Government makes 18.3 to 24.4 cents per gallon. States make from 15 cents to 67 cents per gallon. I don't think the oil companies are the problem.

They only want to look at big numbers. Oil companies are average when it comes to profit margin.

Forecasts for 2022 are similar, with energy likely to post an 8.1% margin, according to analysts polled by Capital IQ. The 2022 forecast is 31.9% for Big Pharma, 25.2% for tech and 19.8% for banks.

As for the big oil and gas companies politicians love to hate the most, Exxon posted an 8.3% profit margin in 2021, with the forecast for 2022 at 10%. Chevron’s margin was 10% in 2021, with a forecast for 11.8% this year. ConocoPhillips was most profitable, with a 17.3% margin in 2021 and an estimated 22.6% margin in 2022.

Big Oil isn’t as rich as everybody thinks

 

[Orangeburst]

Do you actually think this problem is that simple?

I am not the one complaining about oil company profits.

 

[DC_Vol]

I am not the one complaining about oil company profits.

A lot of posters pointing at oil company earnings: crickets

Someone points out the government is taking more than the oil company is earning: “it’s not that simple!”

 

[utvolpj]

Do you actually think this problem is that simple?

It's a start and dropping taxes would be a good faith effort by the govt. But we all know it won't happen since they do nothing to actually make money except take from the citizens

 

[McDad]

Saw this posted;

Oil companies makes about 10 cents on each gallon of gas before taxes. Federal Government makes 18.3 to 24.4 cents per gallon. States make from 15 cents to 67 cents per gallon. I don't think the oil companies are the problem.

There is about 370M gallons consumed each day in America.
370M x (.15 + .183) = 123M per day in taxes
370M x (.244 + .67) = 338M per day in taxes

Between 123M -338M is paid in fed and state taxes every day on gasoline.

About 45B to 123.4B every year.

 

[DancingOutlaw]

This is Exxon's 10K

In the last two years they had $468B in revenue and $600M in net income. This would be the equivalent of you making $50,000 in salary and having $64 left over after you pay your taxes for the year. I don't think anyone would look at that and say you're really killing it. Even in 2021 you can see production costs are increasing over 2019 and oil output was down 11%.

 

[Orangeburst]

Biden to release approx 8% more of Strategic Reserves.. this is war reserves not some political ploy. bet it is empty before we are done and Mission Accomplished

 

[Orangeburst]

Joe..

 

[NorthDallas40]

So the wife just told me she paid $5.15 for 89 octane today. That’s in Dallas, TX. We are generally always below the national average.

We are so screwed

 

[davethevol]

So the wife just told me she paid $5.15 for 89 octane today. That’s in Dallas, TX. We are generally always below the national average.

We are so screwed

No end in sight.

 

[McDad]

So the wife just told me she paid $5.15 for 89 octane today. That’s in Dallas, TX. We are generally always below the national average.

We are so screwed

Oh no! My avatar. My precious avatar.

Maybe @RavinDave will be a gentleman and forgive the bet???

 

[85SugarVol]

Joe..

View attachment 464376

Democrats won’t be able to live that one down.

Republicans will be playing that on a loop as we draw closer to November.

In before: tHat’S NoT wHaT hE mEant ThoUgh!!!

Newsflash: it doesn’t matter what he meant. That’s what he SAID.
On National television.
For all Americans to hear.

 

[volfanhill]

Democrats won’t be able to live that one down.

Republicans will be playing that on a loop as we draw closer to November.

In before: tHat’S NoT wHaT hE mEant ThoUgh!!!

Newsflash: it doesn’t matter what he meant. That’s what he SAID.
On National television.
For all Americans to hear.

And people are surprised that oil companies view this admin, and really democrats in general, as hostile to them.

 

[85SugarVol]

And it’s completely in line with every thing the Democrats have been saying about Big Oil and fossil fuels for over 40 years now.

That they would KILL oil and coal.

Eventually America is going to take them at their word.

 

[Orangeburst]

Oh no! My avatar. My precious avatar.

Maybe @RavinDave will be a gentleman and forgive the bet???

He will slash your Yokohamas if you renege

 

[NorthDallas40]

Oh no! My avatar. My precious avatar.

Maybe @RavinDave will be a gentleman and forgive the bet???

You are more screwed than the rest of us.

 

[BreatheUT]

So the wife just told me she paid $5.15 for 89 octane today. That’s in Dallas, TX. We are generally always below the national average.

We are so screwed

So the further south we go, generally it gets cheaper. Right?

 

[McDad]

He will slash your Yokohamas if you renege

Oh no! My Yokohamas. My precious Yokohamas.

 

[McDad]

You are more screwed than the rest of us.

If he makes me put something pro Bama or Florida, I'm gonna post ugly and get banned.

 

[Orangeburst]

You are more screwed than the rest of us.

McDad pre bet..

McDad post bet..

 

[NorthDallas40]

If he makes me put something pro Bama or Florida, I'm gonna post ugly and get banned.

That’s the spirit!

 

[Orangeburst]

If he makes me put something pro Bama or Florida, I'm gonna post ugly and get banned.

THE PLAN is working,,,lol

 

[RavinDave]

Oh no! My avatar. My precious avatar.

Maybe @RavinDave will be a gentleman and forgive the bet???

Well I paid 4.55 with a credit card in Houston today. Would of been 4.45 if I’d paid cash. So your avatar has a little life left. Maybe you can change it to a weasel.

 

[McDad]

Well I paid 4.55 with a credit card in Houston today. Would of been 4.45 if I’d paid cash. So your avatar has a little life left. Maybe you can change it to a weasel.

Considering the reason for the change, I think a jackass would be more apropos.

 

[RavinDave]

Considering the reason for the change, I think a jackass would be more apropos.

Funny. I was in a Lowe's today waiting to talk to the guy in appliances who was selling something to a couple who were two places in line ahead of me. The gentleman in that couple who appeared to be in his sixties was complaining about price and/or lead time and said "Democrats". I waited a couple of beats and said "I heard a dirty word" and all five of the adults in that little area basically nodded "yup". When I got out to my truck later, the older dude who had been right in front of me (and his wife was hoping one of two dishwashers could be delivered before she dies), who looked like we wasn't long for this world either, was getting into a beautiful black Cayenne I had admired on my way into the store. I spoke to him then briefly and he told me he has a couple of 911s too. That's how I'd like to go out.