But no, the oil companies wil continue to gouge and force the dollar to collapse for some unknown reason.
I don't agree with that at all. Oil companies aren't gouging people intentionally. Hell, just look at what Exxon Mobil paid in taxes alone last year. Big Oil has to search, drill, extract, transport, refine, then transport the final product to the tanks. This also doesn't include the various products made from petroleum(such as graphite and asphalt). They provide jobs, new technologies, maintain and develop new equipment, and keep us maintaining our way of life.
Last I checked, the US government doesn't do any of the above. They aren't extracting and shipping oil. Instead, they simply tax Exxon alone nearly $30 Billion just because they...........can. If Exxon doesn't pay, people go to prison.
The federal tax per gallon of gas is at 18.4 cents according to tax charts. State taxes in addition range from 10 cents per gallon all the way up to around 32 cents per gallon. So that's abouve 40 cents in taxes per gallon of gas(I'm not sure if there is local taxes levied on gasoline). Now, oil companies on average make a profit of .08% profit per dollar, or, if gas is $3 per gallon, net profit is 2.5 cents. Percentagewise, this is far below when you compare just exactly who is gouging who. Here is a nice summary.
Based upon a $3.00 gallon of gasoline, the average break-down is as follows.
Gasoline Retailer $.01 cents per gallon
Oil Company $.08 cents per gallon
Refining $.29 cents per gallon
Marketing/Distribution $.32 cents per gallon
Taxes $.59 cents per gallon
Cost of crude $1.71 per gallon (delivered)
