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Oil / Gas - Cost / Pricing - PDF file
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Technorati Tags: oil, gas, energy

Economics 101: The Price of Gas - Sterling T. Terrell - Mises Institute

Gas prices are up and oil executives are once again testifying before
Congress. Clearly, many politicians, pundits, and consumers lament the
rising cost of gas. Before we join them in their chorus, let us take a
step back and ask this question: Are gas prices really all that high?

——–

The average price of gas in the United States today is approximately $3.25. The question is, why are gas prices not higher than they are?

Technorati Tags: energy, gas, economics, oil, economy, inflation

Well if you live in one of the more Progressive / Liberal / Democrat states the answer is definitely Uncle Sam.

FactCheck.org:
Does the government really make more in taxes from the sale of a gallon of gasoline than the oil companies do?

“Unfortunately, there’s no real simple answer,” says Lucian Pugliaresi, president of the Energy Policy Research Foundation, which conducts economic analyses of energy issues and is supported by oil companies. It depends on when the gasoline was purchased. “If you bought it right now, I’d say the government is making more.” If the gasoline was purchased a month ago or last year, that may not have been the case. And the answer further depends on what type of company the question refers to. Refineries, Pugliaresi says, are hurting right now. “If you’re an independent refinery, the answer is definitely they’re making a lot less than the government.”

Yet progressive democrats like Clinton, Obama, Kennedy, Schumer, Edwards…… have the gall to stick their faces in front of a camera every chance they get to denounce “Big Oil” for their profits.

Technorati Tags: big oil, gas, oil, taxes, congress, obama, democrats, clinton