Who gets rich off $3 gas - who doesn't

Posted 2008-03-20, 05:17 PM

Who gets rich off $3 gas - who doesn't

Quote:

EIA estimates it costs U.S. oil companies an average of about $24 a barrel to find, develop and produce oil worldwide, but that doesn't include costs like transportation, administration, or income taxes - which can be substantial. While Exxon made $40 billion in 2007, a 60% increase from 2004, it paid $100 billion in taxes and royalties.

http://money.cnn.com/2008/03/13/news...rss_topstories

Good article that's just a snippet.

"When the people find that they can vote themselves money, that will herald the end of the republic."- Benjamin Franklin

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