Why Gas Prices Are So Damn High

$$$$$ WHY GAS PRICES ARE TOO DAMN HIGH THE AVERAGE PRICE PER GALLON IS $3.918 $4.550 - $4.026 $3.990 - $3.883 $3.882 - $3.810 $3.810 - $3.743 $3.743 - $3.505 THE COST OF GAS PER GALLON in 2002 wAS Ş1.29. That's an average Annual growth annual growth of: of inflation: 11.8% 2% THE AVERAGE PERSON USES 558 GALLONS PER YEAR. THAT'S $2,186 A YEAR. WHICH MEANS THE AVERAGE AMERICAN SPENDS 6% OF THEIR INCOME FROM WORK JUST TO GET TO WORK. THIS IS WHAT YOU'RE PAYING FOR IN 1 GALLON OF GAS $3.981 Cost of gas per gallon $8.214 $0.214 $8.488 $3.883 Distribution Refining Тахes Crude Oil & Marketing WHY ARE GAS PRICES SO HIGH? TAXES ACCOUNT FOR 12.2% OF THE PRICE OF GAS Filling up a 15 gallon tank means you're paying $7.32 in taxes alone. $ 7.32 But really, taxes, refinement, and distribution are only a small fraction of the price. EVEN THOUGH THE U.S. IS PRODUCING MORE OIL TODAY THAN IT HAS ANY TIME IN THE LAST 8 YEARS... 6,000 4,000 - 2,000 - "00 01 "02 '03 '04 '05 "06 '07 "08 '09 10 11 Annual average through end of year AND THOUGH, FOR THE FIRST TIME SINCE 1949, THE U.S. EXPORTED MORE OIL THAN THEY IMPORTED IN 2811... The U.S. imports just 45% of its oil. 45% U.S. GAS PRICES CONTINUE TO RISE. IT IS GLOBAL DEMAND THAT DICTATES GAS PRICES 120% China 96% India U.S. 72% 48% 24% 1995 1998 2001 2004 2007 2010 IN JUST 3 SHORT YEARS, CHINA HAS TRIPLED ITS NUMBER OF CARS. GLOBAL INSTABILITY AFFECTS OIL SUPPLIES WHICH INCREASES PRICES AT THE PUMP. Price Adjusted for 2012 dollars Price at the pump at time of sale Global Financial Crisis $5.00 Hurrican Katrina Arab Spring & Rita Iran/Iraq War $4.00 Operation Desert Storm OPEC cuts Output $3.00 September 11, 2001 $2.00 $1.00 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 20O10 2012 OIL COMPANIES ARE MAKING RECORD PROFIT. THE US IMPORTS 4,200 BARRELS OF OIL A DAY FROM OPEC. (The Organization of the Petroleum Exporting Countries) HELPING OPEC MAKE ŞI TRILLION DOLLARS IN PROFIT IN 2011. IN THE US, THE 3 BIGGEST OIL COMPANIES, EXXON, CONOCOPHILLIPS, AND CHEVRON, TOOK IN MORE THAN $88 BILLION IN PROFIT IN 2011. EXXOП $ CHEVRON CONOCOPHILLIPS THESE OIL COMPANIES WHO REFINE AND DISTRIBUTE, ALSO RECEIVE S4 BILLION IN TAX BREAKS A YEAR. $23.16/HOUR $4,788,888/HOUR Average U.S. hourly Exxon Mobil Corp income in 2011 revenue in 2011 A GAS PRICE INCREASE OF 1 CENT EQUATES TO $280 MILLION INCREASE IN PROFITS FOR OIL COMPANIES. $8.81 CREATED BY: ONLINEBACHELORDEGREEPROGRAMS.CoM http://www.cnbc.com/lid/24730528?photo=11 http://www.api.org/Oil-and-Natural-Gas-Overview/Industry-Economics/Fuel-Taxes.aspx http://www.whitehouse-govlenergy/gasprices http://gaspricesexplained.org/ http://money.cnn.com/news/storysupplement/economy/gas.prices by state/ http://www.fhwa.dot.gov/policy/ohim/hs02/inS.htm http://fuelgaugereport.aaa.com/?redirectto=http://fuelgaugereport.opisnet.com/index.asp http://money.cnn.com/2011/04/21/markets/oil_gas.prices/index.htm http://www.wjla.com/articles/2012/03/why-are-gas-prices-so-high-the-price-of-gas-explained-74069.html http://www.businessweek.com/news/2012-03-29/senate-fails-to-advance-bill-repealing-oil-tax-breaks http://www.bls.govleagleag.us.htm http://www.census.gov/foreign-trade/balance/c0001.html c O00 This work is under a creative commons license. $$$$$ WHY GAS PRICES ARE TOO DAMN HIGH THE AVERAGE PRICE PER GALLON IS $3.918 $4.550 - $4.026 $3.990 - $3.883 $3.882 - $3.810 $3.810 - $3.743 $3.743 - $3.505 THE COST OF GAS PER GALLON in 2002 wAS Ş1.29. That's an average Annual growth annual growth of: of inflation: 11.8% 2% THE AVERAGE PERSON USES 558 GALLONS PER YEAR. THAT'S $2,186 A YEAR. WHICH MEANS THE AVERAGE AMERICAN SPENDS 6% OF THEIR INCOME FROM WORK JUST TO GET TO WORK. THIS IS WHAT YOU'RE PAYING FOR IN 1 GALLON OF GAS $3.981 Cost of gas per gallon $8.214 $0.214 $8.488 $3.883 Distribution Refining Тахes Crude Oil & Marketing WHY ARE GAS PRICES SO HIGH? TAXES ACCOUNT FOR 12.2% OF THE PRICE OF GAS Filling up a 15 gallon tank means you're paying $7.32 in taxes alone. $ 7.32 But really, taxes, refinement, and distribution are only a small fraction of the price. EVEN THOUGH THE U.S. IS PRODUCING MORE OIL TODAY THAN IT HAS ANY TIME IN THE LAST 8 YEARS... 6,000 4,000 - 2,000 - "00 01 "02 '03 '04 '05 "06 '07 "08 '09 10 11 Annual average through end of year AND THOUGH, FOR THE FIRST TIME SINCE 1949, THE U.S. EXPORTED MORE OIL THAN THEY IMPORTED IN 2811... The U.S. imports just 45% of its oil. 45% U.S. GAS PRICES CONTINUE TO RISE. IT IS GLOBAL DEMAND THAT DICTATES GAS PRICES 120% China 96% India U.S. 72% 48% 24% 1995 1998 2001 2004 2007 2010 IN JUST 3 SHORT YEARS, CHINA HAS TRIPLED ITS NUMBER OF CARS. GLOBAL INSTABILITY AFFECTS OIL SUPPLIES WHICH INCREASES PRICES AT THE PUMP. Price Adjusted for 2012 dollars Price at the pump at time of sale Global Financial Crisis $5.00 Hurrican Katrina Arab Spring & Rita Iran/Iraq War $4.00 Operation Desert Storm OPEC cuts Output $3.00 September 11, 2001 $2.00 $1.00 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 20O10 2012 OIL COMPANIES ARE MAKING RECORD PROFIT. THE US IMPORTS 4,200 BARRELS OF OIL A DAY FROM OPEC. (The Organization of the Petroleum Exporting Countries) HELPING OPEC MAKE ŞI TRILLION DOLLARS IN PROFIT IN 2011. IN THE US, THE 3 BIGGEST OIL COMPANIES, EXXON, CONOCOPHILLIPS, AND CHEVRON, TOOK IN MORE THAN $88 BILLION IN PROFIT IN 2011. EXXOП $ CHEVRON CONOCOPHILLIPS THESE OIL COMPANIES WHO REFINE AND DISTRIBUTE, ALSO RECEIVE S4 BILLION IN TAX BREAKS A YEAR. $23.16/HOUR $4,788,888/HOUR Average U.S. hourly Exxon Mobil Corp income in 2011 revenue in 2011 A GAS PRICE INCREASE OF 1 CENT EQUATES TO $280 MILLION INCREASE IN PROFITS FOR OIL COMPANIES. $8.81 CREATED BY: ONLINEBACHELORDEGREEPROGRAMS.CoM http://www.cnbc.com/lid/24730528?photo=11 http://www.api.org/Oil-and-Natural-Gas-Overview/Industry-Economics/Fuel-Taxes.aspx http://www.whitehouse-govlenergy/gasprices http://gaspricesexplained.org/ http://money.cnn.com/news/storysupplement/economy/gas.prices by state/ http://www.fhwa.dot.gov/policy/ohim/hs02/inS.htm http://fuelgaugereport.aaa.com/?redirectto=http://fuelgaugereport.opisnet.com/index.asp http://money.cnn.com/2011/04/21/markets/oil_gas.prices/index.htm http://www.wjla.com/articles/2012/03/why-are-gas-prices-so-high-the-price-of-gas-explained-74069.html http://www.businessweek.com/news/2012-03-29/senate-fails-to-advance-bill-repealing-oil-tax-breaks http://www.bls.govleagleag.us.htm http://www.census.gov/foreign-trade/balance/c0001.html c O00 This work is under a creative commons license. $$$$$ WHY GAS PRICES ARE TOO DAMN HIGH THE AVERAGE PRICE PER GALLON IS $3.918 $4.550 - $4.026 $3.990 - $3.883 $3.882 - $3.810 $3.810 - $3.743 $3.743 - $3.505 THE COST OF GAS PER GALLON in 2002 wAS Ş1.29. That's an average Annual growth annual growth of: of inflation: 11.8% 2% THE AVERAGE PERSON USES 558 GALLONS PER YEAR. THAT'S $2,186 A YEAR. WHICH MEANS THE AVERAGE AMERICAN SPENDS 6% OF THEIR INCOME FROM WORK JUST TO GET TO WORK. THIS IS WHAT YOU'RE PAYING FOR IN 1 GALLON OF GAS $3.981 Cost of gas per gallon $8.214 $0.214 $8.488 $3.883 Distribution Refining Тахes Crude Oil & Marketing WHY ARE GAS PRICES SO HIGH? TAXES ACCOUNT FOR 12.2% OF THE PRICE OF GAS Filling up a 15 gallon tank means you're paying $7.32 in taxes alone. $ 7.32 But really, taxes, refinement, and distribution are only a small fraction of the price. EVEN THOUGH THE U.S. IS PRODUCING MORE OIL TODAY THAN IT HAS ANY TIME IN THE LAST 8 YEARS... 6,000 4,000 - 2,000 - "00 01 "02 '03 '04 '05 "06 '07 "08 '09 10 11 Annual average through end of year AND THOUGH, FOR THE FIRST TIME SINCE 1949, THE U.S. EXPORTED MORE OIL THAN THEY IMPORTED IN 2811... The U.S. imports just 45% of its oil. 45% U.S. GAS PRICES CONTINUE TO RISE. IT IS GLOBAL DEMAND THAT DICTATES GAS PRICES 120% China 96% India U.S. 72% 48% 24% 1995 1998 2001 2004 2007 2010 IN JUST 3 SHORT YEARS, CHINA HAS TRIPLED ITS NUMBER OF CARS. GLOBAL INSTABILITY AFFECTS OIL SUPPLIES WHICH INCREASES PRICES AT THE PUMP. Price Adjusted for 2012 dollars Price at the pump at time of sale Global Financial Crisis $5.00 Hurrican Katrina Arab Spring & Rita Iran/Iraq War $4.00 Operation Desert Storm OPEC cuts Output $3.00 September 11, 2001 $2.00 $1.00 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 20O10 2012 OIL COMPANIES ARE MAKING RECORD PROFIT. THE US IMPORTS 4,200 BARRELS OF OIL A DAY FROM OPEC. (The Organization of the Petroleum Exporting Countries) HELPING OPEC MAKE ŞI TRILLION DOLLARS IN PROFIT IN 2011. IN THE US, THE 3 BIGGEST OIL COMPANIES, EXXON, CONOCOPHILLIPS, AND CHEVRON, TOOK IN MORE THAN $88 BILLION IN PROFIT IN 2011. EXXOП $ CHEVRON CONOCOPHILLIPS THESE OIL COMPANIES WHO REFINE AND DISTRIBUTE, ALSO RECEIVE S4 BILLION IN TAX BREAKS A YEAR. $23.16/HOUR $4,788,888/HOUR Average U.S. hourly Exxon Mobil Corp income in 2011 revenue in 2011 A GAS PRICE INCREASE OF 1 CENT EQUATES TO $280 MILLION INCREASE IN PROFITS FOR OIL COMPANIES. $8.81 CREATED BY: ONLINEBACHELORDEGREEPROGRAMS.CoM http://www.cnbc.com/lid/24730528?photo=11 http://www.api.org/Oil-and-Natural-Gas-Overview/Industry-Economics/Fuel-Taxes.aspx http://www.whitehouse-govlenergy/gasprices http://gaspricesexplained.org/ http://money.cnn.com/news/storysupplement/economy/gas.prices by state/ http://www.fhwa.dot.gov/policy/ohim/hs02/inS.htm http://fuelgaugereport.aaa.com/?redirectto=http://fuelgaugereport.opisnet.com/index.asp http://money.cnn.com/2011/04/21/markets/oil_gas.prices/index.htm http://www.wjla.com/articles/2012/03/why-are-gas-prices-so-high-the-price-of-gas-explained-74069.html http://www.businessweek.com/news/2012-03-29/senate-fails-to-advance-bill-repealing-oil-tax-breaks http://www.bls.govleagleag.us.htm http://www.census.gov/foreign-trade/balance/c0001.html c O00 This work is under a creative commons license. $$$$$ WHY GAS PRICES ARE TOO DAMN HIGH THE AVERAGE PRICE PER GALLON IS $3.918 $4.550 - $4.026 $3.990 - $3.883 $3.882 - $3.810 $3.810 - $3.743 $3.743 - $3.505 THE COST OF GAS PER GALLON in 2002 wAS Ş1.29. That's an average Annual growth annual growth of: of inflation: 11.8% 2% THE AVERAGE PERSON USES 558 GALLONS PER YEAR. THAT'S $2,186 A YEAR. WHICH MEANS THE AVERAGE AMERICAN SPENDS 6% OF THEIR INCOME FROM WORK JUST TO GET TO WORK. THIS IS WHAT YOU'RE PAYING FOR IN 1 GALLON OF GAS $3.981 Cost of gas per gallon $8.214 $0.214 $8.488 $3.883 Distribution Refining Тахes Crude Oil & Marketing WHY ARE GAS PRICES SO HIGH? TAXES ACCOUNT FOR 12.2% OF THE PRICE OF GAS Filling up a 15 gallon tank means you're paying $7.32 in taxes alone. $ 7.32 But really, taxes, refinement, and distribution are only a small fraction of the price. EVEN THOUGH THE U.S. IS PRODUCING MORE OIL TODAY THAN IT HAS ANY TIME IN THE LAST 8 YEARS... 6,000 4,000 - 2,000 - "00 01 "02 '03 '04 '05 "06 '07 "08 '09 10 11 Annual average through end of year AND THOUGH, FOR THE FIRST TIME SINCE 1949, THE U.S. EXPORTED MORE OIL THAN THEY IMPORTED IN 2811... The U.S. imports just 45% of its oil. 45% U.S. GAS PRICES CONTINUE TO RISE. IT IS GLOBAL DEMAND THAT DICTATES GAS PRICES 120% China 96% India U.S. 72% 48% 24% 1995 1998 2001 2004 2007 2010 IN JUST 3 SHORT YEARS, CHINA HAS TRIPLED ITS NUMBER OF CARS. GLOBAL INSTABILITY AFFECTS OIL SUPPLIES WHICH INCREASES PRICES AT THE PUMP. Price Adjusted for 2012 dollars Price at the pump at time of sale Global Financial Crisis $5.00 Hurrican Katrina Arab Spring & Rita Iran/Iraq War $4.00 Operation Desert Storm OPEC cuts Output $3.00 September 11, 2001 $2.00 $1.00 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 20O10 2012 OIL COMPANIES ARE MAKING RECORD PROFIT. THE US IMPORTS 4,200 BARRELS OF OIL A DAY FROM OPEC. (The Organization of the Petroleum Exporting Countries) HELPING OPEC MAKE ŞI TRILLION DOLLARS IN PROFIT IN 2011. IN THE US, THE 3 BIGGEST OIL COMPANIES, EXXON, CONOCOPHILLIPS, AND CHEVRON, TOOK IN MORE THAN $88 BILLION IN PROFIT IN 2011. EXXOП $ CHEVRON CONOCOPHILLIPS THESE OIL COMPANIES WHO REFINE AND DISTRIBUTE, ALSO RECEIVE S4 BILLION IN TAX BREAKS A YEAR. $23.16/HOUR $4,788,888/HOUR Average U.S. hourly Exxon Mobil Corp income in 2011 revenue in 2011 A GAS PRICE INCREASE OF 1 CENT EQUATES TO $280 MILLION INCREASE IN PROFITS FOR OIL COMPANIES. $8.81 CREATED BY: ONLINEBACHELORDEGREEPROGRAMS.CoM http://www.cnbc.com/lid/24730528?photo=11 http://www.api.org/Oil-and-Natural-Gas-Overview/Industry-Economics/Fuel-Taxes.aspx http://www.whitehouse-govlenergy/gasprices http://gaspricesexplained.org/ http://money.cnn.com/news/storysupplement/economy/gas.prices by state/ http://www.fhwa.dot.gov/policy/ohim/hs02/inS.htm http://fuelgaugereport.aaa.com/?redirectto=http://fuelgaugereport.opisnet.com/index.asp http://money.cnn.com/2011/04/21/markets/oil_gas.prices/index.htm http://www.wjla.com/articles/2012/03/why-are-gas-prices-so-high-the-price-of-gas-explained-74069.html http://www.businessweek.com/news/2012-03-29/senate-fails-to-advance-bill-repealing-oil-tax-breaks http://www.bls.govleagleag.us.htm http://www.census.gov/foreign-trade/balance/c0001.html c O00 This work is under a creative commons license. $$$$$ WHY GAS PRICES ARE TOO DAMN HIGH THE AVERAGE PRICE PER GALLON IS $3.918 $4.550 - $4.026 $3.990 - $3.883 $3.882 - $3.810 $3.810 - $3.743 $3.743 - $3.505 THE COST OF GAS PER GALLON in 2002 wAS Ş1.29. That's an average Annual growth annual growth of: of inflation: 11.8% 2% THE AVERAGE PERSON USES 558 GALLONS PER YEAR. THAT'S $2,186 A YEAR. WHICH MEANS THE AVERAGE AMERICAN SPENDS 6% OF THEIR INCOME FROM WORK JUST TO GET TO WORK. THIS IS WHAT YOU'RE PAYING FOR IN 1 GALLON OF GAS $3.981 Cost of gas per gallon $8.214 $0.214 $8.488 $3.883 Distribution Refining Тахes Crude Oil & Marketing WHY ARE GAS PRICES SO HIGH? TAXES ACCOUNT FOR 12.2% OF THE PRICE OF GAS Filling up a 15 gallon tank means you're paying $7.32 in taxes alone. $ 7.32 But really, taxes, refinement, and distribution are only a small fraction of the price. EVEN THOUGH THE U.S. IS PRODUCING MORE OIL TODAY THAN IT HAS ANY TIME IN THE LAST 8 YEARS... 6,000 4,000 - 2,000 - "00 01 "02 '03 '04 '05 "06 '07 "08 '09 10 11 Annual average through end of year AND THOUGH, FOR THE FIRST TIME SINCE 1949, THE U.S. EXPORTED MORE OIL THAN THEY IMPORTED IN 2811... The U.S. imports just 45% of its oil. 45% U.S. GAS PRICES CONTINUE TO RISE. IT IS GLOBAL DEMAND THAT DICTATES GAS PRICES 120% China 96% India U.S. 72% 48% 24% 1995 1998 2001 2004 2007 2010 IN JUST 3 SHORT YEARS, CHINA HAS TRIPLED ITS NUMBER OF CARS. GLOBAL INSTABILITY AFFECTS OIL SUPPLIES WHICH INCREASES PRICES AT THE PUMP. Price Adjusted for 2012 dollars Price at the pump at time of sale Global Financial Crisis $5.00 Hurrican Katrina Arab Spring & Rita Iran/Iraq War $4.00 Operation Desert Storm OPEC cuts Output $3.00 September 11, 2001 $2.00 $1.00 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 20O10 2012 OIL COMPANIES ARE MAKING RECORD PROFIT. THE US IMPORTS 4,200 BARRELS OF OIL A DAY FROM OPEC. (The Organization of the Petroleum Exporting Countries) HELPING OPEC MAKE ŞI TRILLION DOLLARS IN PROFIT IN 2011. IN THE US, THE 3 BIGGEST OIL COMPANIES, EXXON, CONOCOPHILLIPS, AND CHEVRON, TOOK IN MORE THAN $88 BILLION IN PROFIT IN 2011. EXXOП $ CHEVRON CONOCOPHILLIPS THESE OIL COMPANIES WHO REFINE AND DISTRIBUTE, ALSO RECEIVE S4 BILLION IN TAX BREAKS A YEAR. $23.16/HOUR $4,788,888/HOUR Average U.S. hourly Exxon Mobil Corp income in 2011 revenue in 2011 A GAS PRICE INCREASE OF 1 CENT EQUATES TO $280 MILLION INCREASE IN PROFITS FOR OIL COMPANIES. $8.81 CREATED BY: ONLINEBACHELORDEGREEPROGRAMS.CoM http://www.cnbc.com/lid/24730528?photo=11 http://www.api.org/Oil-and-Natural-Gas-Overview/Industry-Economics/Fuel-Taxes.aspx http://www.whitehouse-govlenergy/gasprices http://gaspricesexplained.org/ http://money.cnn.com/news/storysupplement/economy/gas.prices by state/ http://www.fhwa.dot.gov/policy/ohim/hs02/inS.htm http://fuelgaugereport.aaa.com/?redirectto=http://fuelgaugereport.opisnet.com/index.asp http://money.cnn.com/2011/04/21/markets/oil_gas.prices/index.htm http://www.wjla.com/articles/2012/03/why-are-gas-prices-so-high-the-price-of-gas-explained-74069.html http://www.businessweek.com/news/2012-03-29/senate-fails-to-advance-bill-repealing-oil-tax-breaks http://www.bls.govleagleag.us.htm http://www.census.gov/foreign-trade/balance/c0001.html c O00 This work is under a creative commons license.