Where does your money go when you pay for a gallon of gas? How much money are oil companies making? What affects the price of gas in the United States? Why do gas prices vary so much from one country to another? Find the answers in GOOD Sheet no. 004.
This exploration of gas prices is a collaboration between GOOD and Number 17. GOOD Sheet no. 004 is available in print in Starbucks from October 4-8.
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DISCUSSION: 11 Comments
Venezuela getting 12¢ gas per gallon!? I couldn’t believe this, so I did some more poking. Indeed, it seems accurate:From Spanishdict.com… Latin American countries have been privatizing their petroleum industry
since the early 1900’s–this is why the prices are so low. Through
privatization, these countries hoped to attract much-needed investment
capital, increase GDP and introduce free market economic reforms but
much of the reforms have failed to live up to their promises. Many
other Latin American countries that have a natural abundance of oil as
well, including Ecuador and Bolivia. Together, these countries are
affectionately referred to as “Petrocracies:” oil-rich countries
inhabited by poor citizens.
I used to live in Ecuador, and let me say this, they have on thing going for them in the gas department. Diesel is cheaper than processed gas (it takes less processing itself, this makes sense). SO, minus the taxes and such, they’re totally heading in the right direction with cheaper diesel.
I knew there was a reason I ride a bike!
If my math is correct the rate of return the oil companies are getting is around %7.8 ROI. Considering that this puts their return in the bottom 3/4ths of the Fortune 500 companies I’m really glad I don’t invest in those stocks. Come on!!!! Let’s face it…they make a ton of money because they sell a TON of product while charging a fair price. Here’s a good way to drop the price by 40% instantly….get rid of the taxes the government puts on it. Do you think that is really hurting the oil companies? They just pass it along to you and me. I have just bought my last cup of Starbuck’s coffee after reading this garbage!
I suggest that we tax the hell out of oil and use the proceeds to transition away from its use. Good for the environment, Good for the Country. I thank Starbucks for putting this magazine in its stores and will go back and purchase another Latte now.
Good info. Saw this via consumerist.
1.9 trillion in revenue… but only 155 billion in profits…. and people think we are gouged by oil companies. (lets just say it’s a 15% return on their money – not great) If you want crooks try the pharmaceutical industry)
my math was off… really only about 8% profit off of total revenue… egads
Sorry guys but there are a few things I just don’t get:1.- What’s wrong with making 11% profits (ExxonMobil 2007) on oil? What’s wrong with making 7% profits (Starbucks 2007) on coffee? Is it bad making more than 8%?2.- If OPEC produces oil, why are they put on a separate paragraph as not as part of the Demand and Consumption story?3.- Even having an oil & gas background I’m amazed at learning that the sector can: find oil, drill for it, extract it, pump it, refine it, transport it, and sell it to us and use only 16% of the price we pay at the pump!!! I wonder how much of my $1,500 computer goes into finding the raw materials, buying them, processing them, assembling them into something useful; I betcha it is waaay more than 16%.I’m sorry guys but I just don’t get the point here, you seem to suggest a few bad guys but your arguments support nothing. FB
I’m not concerned with who receives the money spent by consumers on gasoline. Most of us rely on it to get from place to place, despite it’s argued “unfair” price. If I had to pay $5 a gallon, I can’t say no. In the end, we will always lose the battle with the oil companies and gas stations. It’s almost pointless to complain. If you don’t like paying for gas, don’t own a car that requires it. There are many alternative energy sources developed for use in place of gasoline. P.S. Bikes are fun, too!
vegiiiii Oil!!
http://www.youtube.com/results?search_query=veggie+oil+fuel&search_type=&aq=3&oq=veggie+oil+