01-27-2019, 11:59 AM
Oil companies profit about 7 cents on a gallon of gas.
Don’t confuse profit at the pump with profit before the oil and gas gets to the pump. Some headlines from last year, 2018:
* Big Oil's most profitable quarter ever: $51.5 billion
* Nov 2, 2018 · Quarterly profits for the world's largest publicly traded oil and gas company surged 57 percent to $6.24 billion.
When you or I or delivery companies fill up at a gas pump in Hilo or Pahoa, we are paying dollars more per tank to Big Oil, not just pennies more to Big State Government, because Big Oil raises prices when the price of oil goes up, but never lowers it at the same rate when prices go down. That equals gigantic profits.
If you think the state is gouging poor people, they’re just pikers compared to Big Oil. I watch wholesale and retail fuel prices like a hawk, because my shippers use fuel surcharges on top of the negotiated rates.
We're not considering anything, but all options are on the table. - President Donald J. Trump 1/24/19
Don’t confuse profit at the pump with profit before the oil and gas gets to the pump. Some headlines from last year, 2018:
* Big Oil's most profitable quarter ever: $51.5 billion
* Nov 2, 2018 · Quarterly profits for the world's largest publicly traded oil and gas company surged 57 percent to $6.24 billion.
When you or I or delivery companies fill up at a gas pump in Hilo or Pahoa, we are paying dollars more per tank to Big Oil, not just pennies more to Big State Government, because Big Oil raises prices when the price of oil goes up, but never lowers it at the same rate when prices go down. That equals gigantic profits.
If you think the state is gouging poor people, they’re just pikers compared to Big Oil. I watch wholesale and retail fuel prices like a hawk, because my shippers use fuel surcharges on top of the negotiated rates.
We're not considering anything, but all options are on the table. - President Donald J. Trump 1/24/19
"I'm at that stage in life where I stay out of discussions. Even if you say 1+1=5, you're right - have fun." - Keanu Reeves