Posted by trucker40 on November 01, 2008 at 08:35:57 from (69.154.22.37):
In Reply to: Re: Gas prices posted by Achin Back on October 31, 2008 at 17:10:04:
Well you would have a hard time selling that the oil companies only make 10-12% profit.First off the oil belongs to them and whoever they lease the mineral rights from.If they want to sell a barrel of oil the price goes up and down.They would rather sell a gallon of gas,why?Well its easy,a barrel which is a certain amount of gallons,not 55 gallons,more like 40 gallons is worth 60 dollars say.Even if gas is"only" 2 dollars a gallon,its worth about 90 dollars a barrel.I dont know what it costs to refine,obviously not 30 dollars a barrel.
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