La Message Board Archives

Re: fuel prices

Posted by esmitty on August 14, 2008, 8:34 pm, in reply to "Re: fuel prices"

I don't want to get political here, but you could make a case that oil for fuel in the U.S. is already nationalized.

In Calif, fuel taxes (fed and state) on a gallon of gas are something like 18%. Contrast this with Exxon-Mobil's 2007 profit margin of ±10%. Loosely speaking, the government is already profiting more than XOM on exery gallon of gas sold.


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