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Posted: 10/13/2005 4:37:23 PM EDT
www.energy.ca.gov/gasoline/whats_in_barrel_oil.html

Some interesting stuff here. Looks like the price of gasoline pays for the barrel of oil and the rest is profit. Maybe I'm looking at the numbers wrong?
Link Posted: 10/13/2005 6:03:29 PM EDT
[Last Edit: 10/13/2005 6:03:48 PM EDT by NonConformist]
Considering Big Oil has improved there profits by 300% in the last quarter...

its GOUGING I tell ya
Link Posted: 10/13/2005 6:05:57 PM EDT
Last time I looked, there were 40 gallons U.S. of crude in one.
Link Posted: 10/13/2005 6:09:01 PM EDT

Originally Posted By Pangea:
www.energy.ca.gov/gasoline/whats_in_barrel_oil.html

Some interesting stuff here. Looks like the price of gasoline pays for the barrel of oil and the rest is profit. Maybe I'm looking at the numbers wrong?



You are. That chart shows the results of the refining process, as measured by volume.
The smaller % items are often more expensive per gallon than gas is. If anything Gas is being subsidized by the other output items.
Link Posted: 10/13/2005 6:10:56 PM EDT
[Last Edit: 10/13/2005 6:11:21 PM EDT by Tomislav]

Originally Posted By NonConformist:
Considering Big Oil has improved there profits by 300% in the last quarter...

its GOUGING I tell ya



300%? Are you joking, or are you suffering from head trauma? Energy sector profits did increase last quarter, but not by 300%.
Link Posted: 10/13/2005 6:22:27 PM EDT
The petroleum industry makes less than a nickel on every gallon of gasoline they sell, the stores make $0.00 (yes, zero, some even sell at a loss to get you into their stop-n-rob store) to $0.03/gal profit after the cost of refining the oil into gasoline. That doesnt include the cost of refining the other products.

Kharn
Link Posted: 10/13/2005 6:39:41 PM EDT
With Diesel at $3.29 vs $2.69 for regular, I guess it is harder to get the diesel out of the barrel. Or the demand is just worth $.60/gal more. Hard to accept.......

Live and get on with life.
Link Posted: 10/13/2005 6:43:52 PM EDT
Petroleum Products Yielded from One Barrel of Crude Oil in California



One barrel contains 42 gallons of crude oil. The total volume of products made from crude oil based origins is 48.43 gallons on average - 6.43 gallons greater than the original 42 gallons of crude oil. This represents a "processing gain" due to the additional other petroleum products such as alkylates are added to the refining process to create the final products.

Additionally, California gasoline contains approximately 5.7 percent by volume of ethanol, a non-petroleum-based additive that brings the total processing gain to 7.59 gallons (or 49.59 total gallons).


Source: California Energy Commission, Fuels Office, PIIRA database. Based on 2004 data.
Link Posted: 10/13/2005 6:47:45 PM EDT
How come no one ever mentions the 30-40 cents in local, state and federal taxes on each gallon of gas. That's far more than the oil companies are making.

Merlin
Link Posted: 10/13/2005 6:53:58 PM EDT

Originally Posted By Merlin:
How come no one ever mentions the 30-40 cents in local, state and federal taxes on each gallon of gas. That's far more than the oil companies are making.

Merlin



Because, comrade, the wealth of the state is the wealth of the people! It is the nefarious capitalist corporations that we must restrain!

Link Posted: 10/13/2005 7:06:37 PM EDT

Originally Posted By Kharn:
The petroleum industry makes less than a nickel on every gallon of gasoline they sell, the stores make $0.00 (yes, zero, some even sell at a loss to get you into their stop-n-rob store) to $0.03/gal profit after the cost of refining the oil into gasoline. That doesnt include the cost of refining the other products.

Kharn



You must not know the industry very well then.

Most gas stations right now pay about $1.60 for a gallon of gas and resell it for over $2.70/gal. $0.30 goes to taxes and just about the rest goes to profit.
Link Posted: 10/13/2005 7:07:40 PM EDT
Link Posted: 10/13/2005 7:11:19 PM EDT

Originally Posted By sniper1az:
Last time I looked, there were 40 gallons U.S. of crude in one.





42, actually.


1 barrel =42 US Gallons
Link Posted: 10/13/2005 7:17:17 PM EDT

Originally Posted By tyman:

Originally Posted By Kharn:
The petroleum industry makes less than a nickel on every gallon of gasoline they sell, the stores make $0.00 (yes, zero, some even sell at a loss to get you into their stop-n-rob store) to $0.03/gal profit after the cost of refining the oil into gasoline. That doesnt include the cost of refining the other products.

Kharn



You must not know the industry very well then.

Most gas stations right now pay about $1.60 for a gallon of gas and resell it for over $2.70/gal. $0.30 goes to taxes and just about the rest goes to profit.



that statement smells a little funny. what's the cost of a barrel of oil right now? $65+? divided by 42 gallons, that alone is $1.55 per gallon of oil. The refining costs must be greater than 5 cents a gallon, though i don't know what they are, and the oil companies must be making some profit on them, and this doesn't even take into account the amount of oil per barrel that can't be made into gasoline.

Saw on cnn something about average cost of a gallon of gas to the oil company was about 2.12, and you know darn well they are going to make some profit on it, so in all likelihood, it doesn't surprise me that gas stations make less than a penny or three per gallon...
Link Posted: 10/13/2005 7:21:14 PM EDT

Originally Posted By tyman:

Originally Posted By Kharn:
The petroleum industry makes less than a nickel on every gallon of gasoline they sell, the stores make $0.00 (yes, zero, some even sell at a loss to get you into their stop-n-rob store) to $0.03/gal profit after the cost of refining the oil into gasoline. That doesnt include the cost of refining the other products.

Kharn



You must not know the industry very well then.

Most gas stations right now pay about $1.60 for a gallon of gas and resell it for over $2.70/gal. $0.30 goes to taxes and just about the rest goes to profit.



My uncle has owned a gas station (or stations) for nearly 40 years. He tells me he makes 1 cent a gallon if he is lucky (milk, bread, cigarrette, etc. sales are what keep the station profitable). He is a very hard-working man who puts in 12 hours a day at the gas station and also manages a couple of small farms on the side. He is not well off at all.

GunLvr
Link Posted: 10/13/2005 7:32:09 PM EDT

Originally Posted By steady:
With Diesel at $3.29 vs $2.69 for regular, I guess it is harder to get the diesel out of the barrel. Or the demand is just worth $.60/gal more. Hard to accept.......

Live and get on with life.



No, demand is at an all-time high. Home heating oil is just #2 fuel oil which is diesel without tax, for the most part. Some refineries without sulfur reduction processing are forced to sell their #2 oiutput as fuel oil or non-road diesel.

Demand dictates price, not cost. While you may think that BP/Exxon/Shell station is owned and run by the respective refiner, they are not. These are franchises, independently owned and operated. A cut of the profit goes to the respective corporation but the station is independent.

Sure, the exploration and production arms of the corporations are making good profits but they NEED to recoup the LOSSES of 1998-2000 when the price stagnation forced oil down to $11 a barrel. These low profits hurt the ability of the industry to react to shortages, making the current situation we are in.

If you sandy manginas would only take the time to understand how cutthroat the petroleum industry is, you wouldn't be complaining about the current situation. You sure were not complaining back in 1998, were you? Should have stocked up on that cheap fuel back then...but instead you stocked up on vehicles that got poor mileage, only because you could afford it.

This isn't a new problem. It has happened before and will continue to happen as long as we demand the cheapest fuel. And we tax the shit out of the inventories, reserves and production.

The answer is more wells and refineries.
Link Posted: 10/13/2005 7:45:19 PM EDT
Leme guess, uhhhhhhhhhhhhhhhhhhhhhh, 55 gallons of oil?


Did I win a prize?
Link Posted: 10/13/2005 7:51:16 PM EDT

Originally Posted By PanzerOfDoom:
Leme guess, uhhhhhhhhhhhhhhhhhhhhhh, 55 gallons of oil?


Did I win a prize?



nope. 42 gallons.
Link Posted: 10/13/2005 7:54:01 PM EDT
It is just like chips, you pay for a full bag, but 60% of it is air.
Link Posted: 10/13/2005 8:10:34 PM EDT
Link Posted: 10/13/2005 10:12:50 PM EDT

Originally Posted By tyman:

Originally Posted By Kharn:
The petroleum industry makes less than a nickel on every gallon of gasoline they sell, the stores make $0.00 (yes, zero, some even sell at a loss to get you into their stop-n-rob store) to $0.03/gal profit after the cost of refining the oil into gasoline. That doesnt include the cost of refining the other products.

Kharn



You must not know the industry very well then.

Most gas stations right now pay about $1.60 for a gallon of gas and resell it for over $2.70/gal. $0.30 goes to taxes and just about the rest goes to profit.



Nonsense. Of that 2.70/gallon, .30 to .50 is taxes, 2.20-2.40 is cost, and 0.01 to 0.03 per gallon is profit for the station.
Link Posted: 10/13/2005 11:06:58 PM EDT
I want to know what is the price per gallon of all the products on that chart. Before any tax, of course.


Vulcan94
Link Posted: 10/13/2005 11:16:55 PM EDT
If you don't like it, don't buy it.
Link Posted: 10/13/2005 11:29:10 PM EDT
I'm GLAD the energy companies are making lots of money.

We're going to need that capital to build infrastructure.

Every barrel of oil extracted costs a little bit more than the last, on average, and takes a little bit more energy to bring to market(energy return on energy invested) We just had a bunch of the existing infrastructure wiped out, and since we're importing 60% of our needs anyway we need to triple our current production capacity just to get independent and be able to ride out a hurricane, or an airstrike or terrorist attack.

All that assuming we can find the resources, which we can't, so energy independence will cost even more.

Those profits make their way into stock options and buybacks or big dividends to stockholders while supply is still tight then I'll join in the lynchmob, the energy industry does have an obligation to the consumer to invest in supply, and it's a national security issue, but I don't begrudge them their profits. The pump price and the gas station owners aren't the place to look for scapegoats.

Watch where those profits go, that's the issue.
Link Posted: 10/13/2005 11:36:52 PM EDT
Link Posted: 10/13/2005 11:42:43 PM EDT

Originally Posted By sherrick13:
Why is making money a good thing..... unless it is Wal Mart or the Oil companies??



It's still a good thing but if you're a public company it carries responsibilities that go beyond profit. Particularly so if you're so big as to be getting into monopoly territory, forcing competition out of business by hiring slave labor in hostile nations, or producing a strategic and economic necessity or extracting resources from public lands.
Link Posted: 10/13/2005 11:59:43 PM EDT
[Last Edit: 10/14/2005 12:08:59 AM EDT by Dave_A]

Originally Posted By Pangea:
www.energy.ca.gov/gasoline/whats_in_barrel_oil.html

Some interesting stuff here. Looks like the price of gasoline pays for the barrel of oil and the rest is profit. Maybe I'm looking at the numbers wrong?



Nope:
OIL
REFINING
TRANSPORTATION
RETA­IL
STATE TAX
FED TAX
LOCAL TAX
TAX TAX
==========
PRICE OF GAS

The price of a barrel of oil compared to gas is like the price of a ton of iron ore compared to the price of high-carbon steel...

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