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Should the price of gasoline be regulated like electricity is?
Utility companies make a profit and are good investments and yet the prices they charge the consumer is regulated by local government, at least where I live.
Since oil companies manipulate the price of gasoline by controlling how much is refined and available for sale, should they be controlled for the good of the country?
It was $4/gallon gasoline that ignited the worst recession in US history, can we afford to go back down that road?
The high price of gasoline and diesel is not because of a lack of oil, in fact there is a glut right now. It's about manipulating the amount of oil that is refined. Oil companies have all time high profit margins and stock prices. So it's not the cost of the oil they find.
14 Answers
- 1 decade agoFavorite Answer
Of course, to stop this:
Big Oil is permanently closing many refineries, hoping to drive up oil & gas prices permanently. Big Oil lost profits due to conservation & the recession. http://articles.latimes.com/2010/mar/11/business/l...
Source(s): “…a fraudulent, anti-science campaign funded largely by Big Oil and Big Coal has blocked Congress from passing any clean energy or climate bill” — but “the Navy and Marine Corps just didn’t get the word,” they’re going green. ---Tom Friedman http://www.nytimes.com/2010/12/19/opinion/19friedm... “A nation using one-quarter of the world’s oil while controlling only 3 percent of the world’s known reserves cannot drill its way to independence. The estimated 7.5 billion barrels the eastern gulf and Atlantic coast are thought to contain are just about what this country consumes in a year.” http://www.nytimes.com/2010/12/13/opinion/13mon1.h... - Anonymous1 decade ago
The profit margin on gasoline is around 4-6 cents per gallon
the TAX on gasoline is around 80 cents per gallon
BIG GOVERNMENT makes about 15 times more PROFIT from gasoline than does BIG OIL
So a smarter move would be to REGULATE THE PIGS OF GOVERNMENT
- Anonymous1 decade ago
Perhaps the ancillary taxes applied to gasoline should be relaxed in times where the raw material becomes inordinately over priced. We can't control the flow of oil 100% but we can control the flow of all of those taxes that make it so high.
- ?Lv 41 decade ago
It will never happen, because the Oil Companies who get Tax dollars in subsidies and profit from your purchase have purchased I mean donated money to political organizations (Oh I meant Republicans). I feel the oil companies should stop getting the Subsidies first.
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- 1 decade ago
I'm in favor of a national program to drill our own oil and then regulate the price. Oil is a national concern since our energy infrastructure is based on it.
- BoogerrLv 51 decade ago
Once the drilling ban here is lifted then we can discuss that option. Until then the OPEC nations control the oil prices.
- civil_av8rLv 71 decade ago
Electricity is defined as a utility to be regulated, like water. Gasoline is a commodity and therefore does not follow regulatory laws.
- Anonymous1 decade ago
You must be a liberal. Between the fed and the state, California gas has 65 cents of taxes added to each gallon. At the same time, Obama has banned drilling in Alaska and all our coasts. It's the double squeeze.
- ?Lv 51 decade ago
they need to tie a tax on oil profits, more they profit higher the tax , they screw people long enough
- Anonymous1 decade ago
Lotsa luck, no US administration in history has ever brought oil companies to their knees.
