Quote:
Originally Posted by Shining Arcanine
The oil companies are not and will never be getting ten to twenty dollars a barrel. The oil wells (i.e. OPEC) gets roughly $55.55 a barrel. Much of the remaining cost of gasoline (when you calculate everything) goes to Uncle Sam with only about 20 cents a gallon (there are 42 gallons in a barrel) going to the oil companies.
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there is a mere 33 cents per gallon tax where I live. This doesn't constitute a whole lot and is far from being reasonably considered "much of the remaining cost". There needs to be a much higher tax at least 1 order of magnitude.
also from 1947 - 1972 oil was under 20 dollars per barrel and was again from 93 - 2000 excluding 95,96 and 97.
so for 29 of the last 59 years, or about 50 percent of the time oil has been under 20 USD per barrel. even adjusting for inflation.
http://www.wtrg.com/oil_graphs/oilprice1947.gif