With the media starting to get up on their hind legs about gas prices, they still don't answer the scripted talking-point that "it's all just supply and demand." Or worse, that a windfall profits tax would make the oil companies stop exploring for new sources. What a crock! If, on top of their already huge profits we don't allow them to reap extra-super- humongous profits, they'll just take their ball and go home in a pout? I don't think so.
gouging stats on the flip
crude crude
$ per bbl per gal retail diff
--------- ------- ------ ----
1995 15 0.36 1.10 0.74
1996 19 0.45 1.19 0.74
1997 18 0.43 1.19 0.76
1998 10 0.24 1.02 0.78
1999 16 0.38 1.12 0.74
2000 26 0.62 1.46 0.84
2001 21 0.50 1.38 0.88
2002 22 0.52 1.31 0.79
2003 28 0.67 1.52 0.85
2004 37 0.88 1.81 0.93
2005 50 1.19 2.24 1.05
2006 60 1.43 2.41 0.98
2006 is incomplete, of course, but over the last ten years, the difference between retail and crude has jumped 32 percent. That, my friends is gouging. If they were to just pass along their increased costs, it would be $2.75 at the pump where it is now $3.
Sources: retail stats:
U.S. Department of Energy, Energy Information Administration
crude prices:
http://www.oilnergy.com/...
nymex light sweet crude prices