File this under - We already knew THAT!

Breaking News!


The latest celebrity news is really quite shocking. It reveals that apparently Lance was THE ONLY gay member of 'N Sync. Who knew?

Raping and Bleeding US dry

How the Oil companies are Raping us and Bleeding us dry
The profit margin has definitely increased since the early 1990s:

"The evidence is in the numbers. The domestic gasoline price spread  –-  the price of a gallon of gas, minus the cost of crude oil and taxes –-  has increased by 30 percent from the mid-1990s to 2004. That spread measures the share of a gallon of gas charged by refiners and marketers. In the mid-to late-1990s, the domestic spread averaged 39 cents per gallon. But during the post-merger period from 2000-2004, the average domestic spread has been 51 cents. (See  Fueling Profits, a report by Mark N. Cooper for the Consumer Federation.) This translates to an increase in U.S. gasoline prices of $55 billion, the amount by which U.S. consumers have been price-gouged. It is no coincidence that oil corporation profits are at record highs."
Neiman Watchdog

According to one report Exxon Mobil sold 621,960,000 gallons of gasoline in 2005. They profited $36.1B in 2005.

So if Exxon Mobil reduced the price of gasoline by 50c/gallon (remember they control almost 30% of the price [from the DOE] since they also control a majority of the oil refining capacity companies too), it would decrease their overall profits by just $300M dollars. They would still have made over $35.7B in 2005.

PS. At a national average of $3.07 (We're not far off that now) in Sept 2005, Gas refineries were making $1/gallon PROFIT. That's included in the 22% control of refining capacity and also in the bottom line of the Big oil companies like Exxon Mobil.
I won't go as far as Beeville, Texas mayor who demanded that ExxonMobil drop prices to $1.30 and boycott them until that happens. Because I don't think it will ever happen. Gas companies will just not allow prices to ever dip below $2 again. What will happen from my wallet's POV is that I will never buy another gallon of blood gasoline from ExxonMobil EVER again.