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<blockquote data-quote="Frankie" data-source="post: 127959" data-attributes="member: 13"><p>Pretty quiet this morning so I'll throw this bit of news out for all to enjoy.</p><p></p><p><a href="http://seattletimes.nwsource.com/html/nationworld/2002519083_katgas25.html" target="_blank">http://seattletimes.nwsource.com/html/n ... gas25.html</a></p><p></p><p>"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.</p><p>Companies that pump oil from the ground swept in an additional 47 cents on each gallon, a 46 percent jump over the same period.</p><p>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.</p><p>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.</p><p>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."</p></blockquote><p></p>
[QUOTE="Frankie, post: 127959, member: 13"] Pretty quiet this morning so I'll throw this bit of news out for all to enjoy. [url=http://seattletimes.nwsource.com/html/nationworld/2002519083_katgas25.html]http://seattletimes.nwsource.com/html/n ... gas25.html[/url] "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." [/QUOTE]
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