BIG OIL-CONTINUED

whtfucover said... What needs to be done is add on to existing refineries instead of building new ones and possibly harming the environment and to start working on alternatives/

It takes 10 years to build any refinery because of environmental restrictions, what makes you think adding on to existing ones would help? Its a pipe dream, what needs to be done is lift the restrictions on drilling to bring this country back from the brink of disaster. Also, lift the drilling and exploration also brought on by environmental regulations. Look how lifting some of the restrictions saved the southeast from a major disruption. As for surpluses, don't you think the oil companies would get more of their product to the consumer as possible? They make about a dime per dollar of profits on oil after bringing it up, processing it and delivery. All this costs a lot of money because of the routes they have to take to deliver, the 37 blends and the fact there are few refineries in the states make it harder. Meanwhile, the federal government pulls in about 18.5 and the states pull in their share also, which is up to 40 cents and they don't have to lift a finger, just demand it. Now, knowing that, who is profiting more from oil? I would love to see a study done on just how much money a state pulls in quarterly from gas sales....Wouldn't you?

Okay, if the oil companies don't make that much money from their production and sell, then how do you justify their record profits? Profits, but definition, are what is left over after cost of production. So, after all of the cost of drilling, refining, transportation, after all that cost, what is left over is profit. And the oil companies 3rd quarter profits were more than the top five blue chip stocks combined. Profit now. If the oil companies are hurting so much, why did they make billions in PROFIT?

And you totally ignored what I said about alternative fuels. I know BP is advertising that they are looking into producing ethanol, but looking into it is not doing it. If Brazil can produce ethanol to where it makes up 40% of their fuel supply, then we should be able to do it. That would break the hold that the oil companies have on the American people.