When will the greedy oil companies stop raping American consumers?

Question

Don't blame the arabs. American oil companies buy oil and gas at wholesale cost from them and then gouge us at the pump. If they sold it at a reasonable cost, gas in America would average about $1.50 per gallon and they would still be making a good profit on that.

Answer 1

No new licenses for refineries have been granted for about thirty years. The process is quite polluting and nobody wants one "in my backyard". Granted the oil companies are quite happy about that because adequate rerfinery capacity would mean lower prices thus less profit. It's a bit more complicated than it seems.

Answer 2

I agree with Dave.

I hate that poeple think Big Oil is greedy. They are just envolved in a business that is fare larger than many other and just so happens to directly impact our lives. That is why it is so heavily critisized.

Starting with oil producing nations is a good point. The middle East has one of the lowest production cost per barrel. Their oil wells are close to the surface and have high well pressures. They are the ones really banking.

Something else we should not forget is that oil prices are being driven up by increased exploration costs. Large Elephant fields are just not found anymore. Companies are exploring in more extreme parts of the world at deeper depths. That costs money.

Answer 3

You clearly have incorrect information.

If a gallon of gasoline is $3, then the people who drilled and sold the oil got $1.80. The cost of shipping the oil to the refinary, refining it into gasoline and delivering it to the local gas station is 60 cents. The Federal and states get 40 cents in tax. The local gas station gets 10-15 cents a gallon. And the "big oil companies" get 5-10 cents a gallon.

If you want to complain about someone ripping us off, it is the oil producing nations and the government taxing us. If you think big oil is ripping us off, then so is your local gas station.

Answer 4

When the American people stop letting it happen. Try not driving so much walk to the store or ride a bike to work if you can do these things.. Get a car with better gas milage so you dont have to fill up as often. The less gas we use the more they will know they have gone to far with their prices and everything will go down when the demand is not as high.

Answer 5

Show me the math on that one...when the cost of crude goes up, the cost of the finished product will go up.

On one hand, I think we're getting it in the butt. On the other hand, I think that in a supply/demand situation, if we want cost to go down, demand has to go down. Figure out how to do that one in our society and you'll be richer than the oil companies.

Look on the bright side. If you have a diversified pension plan, you are probably invested in big oil in one way or another.

Answer 6

When Congress investigates and puts a dozen or so of their top executives in jail for price fixing.
Of course...is gas taxed by dollar or by gallon? If by dollar we may not ever see this investigated.

Answer 7

When we stop driving gas-guzzling SUVs, maybe. They're one of my pet peeves ... they suck down gas (making it more expensive for EVERYONE), they take up space everywhere they go, and it seems like the people who own them never take them anyplace I can't get to in my Ford Escort! Kind of makes me wonder what the point is.

Answer 8

When we stop giving it up. I cant talk I drive a gas guzzling Mercedes but wanting to look pretty is allowing me to be "raped".

RJ

Answer 9

Where do you get your facts?

Answer 10

as long as you say more, they will give it to you.