Wednesday, June 13, 2007

Did you know?

Many people — Lefty and Righty alike — charge "greedy" petro execs of fixing petro prices high. Yet petro companies report a constant profit margin of only 10% both during their lean, low-price years of the 1990s and today’s reality of high prices and high profits. Meanwhile, consumer taxes from local, state, and federal agencies nab about 30% of what consumers pay at the pump. And we all know that a lack of refineries in the US, due to environmental regulations, contributes as well to US pump prices, surely more than the profit margin. Source

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