Oil companies gouging?

Question

I predicted oil prices would go up prior to Bush leaving office-(they are trying to get it while they can)-Billions of dollars in subsidies-and no refineries? Oh yea the common line is the tree huggers won't let them build refineries-beleive it if you want to -A recent Govenors conference spoiled that story.

Answer 1

Isn't it amazing,

since the democrats took control of Congress.

The average price of a gallon of gasoline has went from,

$2.18 a gallon on janurary 22, 2007

To $3.12 a gallon on May 18th, 2007.

Why are the Democrats doing this to America ????

Answer 2

Gary no offense but you prove the point that Liberals are clueless. The biggest profit takers from oil is the govt, both state and Federal. Only 21 cents of every gallon goes to the oil industy as profit. Over 30 cents is tax. During times when oil was cheap, the oil companies could barely make it.
Please understand that when politicians say that oil companies are "gouging" they are simply trying to tax YOU more. You pay for the tax increases, not the oil companies.
In my State of Minnesota they want to increase the gasoline tax over 5 cents per gallon, and this turns out to be nothing more than a pay off to the state construction firms and to big govt. WE pay, not the govt or oil companies.

Let me also say that apparently you are not noticing the price fluctuation every time that Hugo Chavez and Mahmoud Ahmadinijad threaten the free world. They know that this causes WORLD petroleum prices to increase, so they do it to make profit. Why no anger at them?
The US takes in only about 30% of it's petroleum from domestic sources, so how can US oil production stem oil price increase? Much of the oil price is dictated by Global demand. Please read a book and get a clue.

Answer 3

As the price per barrel of crude oil has gone down, to about $67 per barrel, the price increases has to do with the cost of refining it. The refining is costing alot more as they struggle to keep up with supply and demand.

Answer 4

Last I looked the Dems have had Congress for awhile now, if they could actually do something don't you think they would? You really need a economics class, basic supply and demand.

Answer 5

If you are not happy with the price of gasoline, don't buy it.

Answer 6

100 reasons why and yes we live in a free market economy Gasoline is not a basic right....................

Answer 7

PROBLEM WITH MY QUESTIONS