Recent Posts
Who makes more from sales at the pump – industry or government?
A lot of factors go into determining the price of gasoline, so it’s worthwhile every now and again to review them. A good piece in last Friday’s Wall Street Journal does just that, asking simply why gas costs what it does. The author – an analyst for a taxpayer watchdog group – gives a quick rundown of the basics, like crude oil costs, which can account for roughly three-quarters of the price consumers pay at the pump. Then there are expenses for refining, distribution and marketing. But he also reveals one slice of the gas price pie routinely overlooked by those who criticize energy companies or gas station owners for high prices. He writes, “The truth is that governments rake in a larger profit at the pump than anyone,” including companies like ExxonMobil.
Energy production fueling U.S. cities’ economic recovery
Evidence continues to mount showing that the rise in oil and natural gas production from unconventional sources in the United States is yielding tremendous economic benefits for Americans. A recent demonstration comes courtesy of the team running the Brookings Institution’s Metropolitan Policy Program. Several weeks ago they launched an interactive version of their quarterly MetroMonitor feature, which examines the latest economic data to gauge the health of the 100 largest metropolitan areas in the United States.
Big oil earnings = big taxes, big investments, big job creation
It seems like every time we announce ExxonMobil’s earnings, critics jump on soapboxes to demand that we and others in the industry pay more in taxes, predictably calling for the repeal of so-called “subsidies” to the industry that are nothing more than standard tax provisions. Today was no exception. We reported our earnings, and before you could say “Big Oil,” the usual critics were urging the U.S. government to punish ExxonMobil.
Farewell to a hero and inspiration
Like so many Americans, I was deeply saddened to learn of the passing of Sally Ride yesterday after a lengthy battle with pancreatic cancer. Many knew her for her accomplishments as the first American woman in space. However, among her many achievements was to inspire young people, particularly girls, to become interested in science and to pursue careers in science, engineering and math.
