Pretty quiet this morning so I'll throw this bit of news out for all to enjoy.
http://seattletimes.nwsource.com/html/n ... gas25.html
"When the average price of a gallon of regular gasoline peaked at $3.07 recently, it was partly because the nation's refineries were receiving an estimated 99 cents on each gallon sold. That was more than three times the amount they earned a year ago when regular unleaded was selling for $1.87.
Companies that pump oil from the ground swept in an additional 47 cents on each gallon, a 46 percent jump over the same period.
If motorists are the big losers in the spectacular run-up in gas prices, the companies that produce the oil and turn it into gasoline are the clear winners. By contrast, truckers who transport gasoline, companies that operate pipelines and gas-station owners have profited far less.
The spikes caused by Hurricane Katrina — which heavily damaged oil production and refining in the Gulf region — accentuated gains the refiners and producers already were enjoying over the past year.
Exxon Mobil, the Irving, Texas, behemoth that produces and refines oil, reported in July that its second-quarter profit was up 32 percent, to $7.64 billion. Analysts expect Exxon's profit to soar again this quarter."
http://seattletimes.nwsource.com/html/n ... gas25.html
"When the average price of a gallon of regular gasoline peaked at $3.07 recently, it was partly because the nation's refineries were receiving an estimated 99 cents on each gallon sold. That was more than three times the amount they earned a year ago when regular unleaded was selling for $1.87.
Companies that pump oil from the ground swept in an additional 47 cents on each gallon, a 46 percent jump over the same period.
If motorists are the big losers in the spectacular run-up in gas prices, the companies that produce the oil and turn it into gasoline are the clear winners. By contrast, truckers who transport gasoline, companies that operate pipelines and gas-station owners have profited far less.
The spikes caused by Hurricane Katrina — which heavily damaged oil production and refining in the Gulf region — accentuated gains the refiners and producers already were enjoying over the past year.
Exxon Mobil, the Irving, Texas, behemoth that produces and refines oil, reported in July that its second-quarter profit was up 32 percent, to $7.64 billion. Analysts expect Exxon's profit to soar again this quarter."
