Has price gouging by Big Oil caused our current financial crisis? Instead of spending their usual 200 to ?

400 dollars per month on gas, suddenly they were spending between 400 to 800 dollars per month on gas causing many good people to dig into their savings and eventually into their "MORTGAGE" money just to get to and from work, grocery store, church and children's school functions.Has price gouging by Big Oil caused our current financial crisis? Instead of spending their usual 200 to ?For all of those who insist that Big Oil is causing this problem, I would like to remind you, and this also illustrates why Obamas tax increases will affect you. Next time you are at your gas pump see if they list how much of a gallon of gas is state taxes. If not here's how you can get an idea.



Out of every gallon of gas approximately eight cents goes to "big oil". Eighteen cents goes to the Federal Government. The gas station that's delivering your gas makes about two cents a gallon. The rest is your state and local taxes.



Of that eight cents "big oil" over charged you, almost four cents goes to the Federal Government in the form of income taxes. So the Feds for all practical purposes get twenty two cents a gallon, "big oil" four.



Of the four cents left that "big oil" gets about half of that is spent in research and development (finding new oil sources) and bringing the oil and gasoline to market (buying it from OPEC). That leaves about two cents a gallon, the same as the gas station, for dividends to stock holders, wages and benefits and other business costs.



The gas station that makes that two cents a gallon has to pay still more Federal taxes (income) and state and local taxes.



The bottom line is that it is Excessive Governmental Taxation that is the reason the cost of gasoline is so high.



With Obama wanting to increase every tax that is currently being paid is it any wonder that Obama said that it was OK with him for gas to go to $12 a gallon? Why his energy plan is a tire guage? He and his cronies are the ones taking your money every time you pull up to the pump!



Wake up America! Obama will bury you!



America First, not last.

McCain/Palin '08Has price gouging by Big Oil caused our current financial crisis? Instead of spending their usual 200 to ?
NO. None of the financial problems caused by our President Bush's socialism are to blame. The liberal middle class is to blame! I BLAME THE AMERICAN PEOPLE, NOT PRESIDENT BUSH!!!Has price gouging by Big Oil caused our current financial crisis? Instead of spending their usual 200 to ?NO, BUT THE DEMOCRAT CONGRESS LEADED BY PELOSI DO



WHY SHE DOESN'T WANT TO LET US DRILL



DOWN TO PELOSI
It didn't do any good. The rise in interest rates and the drop in the markets were the main thing. Has price gouging by Big Oil caused our current financial crisis? Instead of spending their usual 200 to ?the oil companies didnt have anything to do with itHas price gouging by Big Oil caused our current financial crisis? Instead of spending their usual 200 to ?
Well, you do have a point there. Not the whole problem, but definably a part of it.
Your president save the Banks , because they are friends and share common interest.. aahh .. he saved the banks with your money. So expect an increase in TAXES next year. no matter who wins. this will happen.

The only way to save the mortage crisis is leaving the banks to go bankcruptcy. They play with peoples dreams and now MR. President have to to save them ? are you shiiting me ? with my tax money ? Has price gouging by Big Oil caused our current financial crisis? Instead of spending their usual 200 to ?
Ridiculous. It is people living beyond their means...taking out mortgages that they can't handle, so they can live in cushy houses they can't afford...spending more money than they make, and wondering what the hell happened when it all catches up with them. And also the banks for enticing and allowing people to do it.
There are a few reasons for the increase of gas prices. The mortgage fiasco is one, since it has weakened the dollar greatly. Oil is an international commodity, therefore a weak dollar raises the cost of it for us. This problem was caused mainly by the effort by liberals in Congress to allow everyone to buy a house, whether or not they could afford it. Obama's economic advisor had a big hand in this also. There is also more demand for oil due to the industrialization of China and India. The U.S. isn't the main player in the oil market like it used to be. Greater demand equals higher prices. The oil companies average $0.07 per gallon of gasoline, so I wouldn't call that price gouging.



The liberal response is to raise taxes on the oil companies. Who do you think will end up paying these taxes? Either we will or the oil companies will go bankrupt. They also say we can't drill our way out of this. This makes about as much sense as saying we can't increase the food supplies by growing more food. We need to go on and open up the land that has oil, quit arguing about the land they have rights to that has no oil, and increase our supply and quit buying foreign oil.


When you have a Rep in office all oil prices go up.