New Board Hall of Famer
Re: Check Out These Oil Executives!
« Reply #1 on: May 22nd, 2008, 6:11pm »
get a rope, god forbid they make money
Let's see how much that affects the price of gas...
According to the EIA(www.eia.doe.gov) we consumed 20.7 million barrels per day in 2007. According to http://www.newton.dep.anl.gov/askasci/eng99/eng99288.htm, you get about 19.5 gallons of gasoline out of each barrel, in addition to some other things like heating oil.
So, that makes daily consumption about 20,700,000 * 19.5 gallons, or 403,650,000 gallons per day, or 147,332,250,000 gallons in 2007.
Let's just round up to 150 Billion gallons to make this simple.
So, these guys on the panel made something like 5.5M + 14M + 15M, let's just round up and say they made 100 million dollars. OMG. That's works out to .06 pennies per gallon. Not 6 cents, .06 cents, or 6/10,000 of a dollar.
How much does the government make on every gallon? In California, it's over $.50 per gallon! (http://www.energy.ca.gov/gasoline/statistics/gas_taxes_by_state_2002.htm l and that was in 2002! For doing NOTHING other than regulating and taxing it? The oil companies at least do something useful.
It so easy to point the finger at the oil companies, but we are the problem. We vote idiots into office, and they have created this demand/supply problem.