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Consumers forced to pay $3.00 a gallon, oil companies reap record profits »

Posted by: bubba2 2 years, 5 months ago

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When talking of refinery profits, economists refer to the crack spread, the price difference between a barrel of crude oil and an equal amount of refined gasoline. If a refinery has a crack spread of $8-9 per barrel, economists consider this a good profit. It's estimated that refineries' current crack spreads are as much as $20-$30 per barrel.

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bubba2

I AM OUTTA here! The new format STILL S-U-C-K-S! Propeller has NO idea what "spam" is (or is not) and I am tired of dealing ...

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35Young and Invincible? They make too much to get free health care, but they can't afford to buy it.

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Comments: 3

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bubba2
June 10, 2007, 11:36 p.m.
"Last year, Exxon Mobil posted $36 billion in profits, the largest profit for any corporation in United States history. Moreover, over the past year, refineries have increased their prices 255 percent. As these profits increase, so does the potential for price gouging."
"Refinery companies are raking in these excessive profits at the expense of working Americans. This is price gouging, and Congress should give the Federal Trade Commission the tools to investigate these profits and prosecute those refineries that engage in unfair practices."
Everyone needs to contact their congressmen / congresswomen and their senators and demand that this be fully investigated and to hold the oil companies ACCOUNTABLE for this outright robbery of Americans' pocketbooks.
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NefariousOne
June 12, 2007, 12:01 a.m.
This really isn't a news story, its a politicians view.