Quote:
Originally Posted by bestclimb
I would be with you if you can explain why oil companies making a profit is bad, and why expensive oil eating into people's expendable income is good?
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I heard somewhere that ExxonMobil only made about 10-11% return on their investment (equipment, labor, R&D, etc) in 2007 or 2008, I forget which. According to
Gasoline tax information - New York City Gas Prices New Yorkers are hit with 59.6 cents/gal state tax, and another 3-5% county tax (taken after adding the state tax, so you are being taxed on a tax in NY). At roughly $3/gal here currently, the cost of the gas is actually only $2.25, taxes make up the other 25%. So if Exxon makes 10% on a gallon of gas, and NYS and County make 25%, where's the real greed driving up oil costs?