The US uses around 20 MILLION BARRELS of PETROLEUM a day

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RealDeal

2
and these idiots like Obama think raising the CAFE standards
and windfall taxes are going to really help.
You might wanna do a little math.



How many gallons in a barrel of oil?
In: Science


Answer
There are 55 gallons in a drum and 42 gallons in a barrel. Originally there were 40 gallons to a barrel however, that was changed in the mid 19th century to give a little extra so consumers wouldn't feel "cheated".

A little over 23 gallons of gasoline can be refined from a barrel of oil. Other products (jet fuel, lubricants, etc.) make up the rest.
 
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RealDeal

2
Re: The US uses around 20 MILLION BARRELS of PETROLEUM a day

you get about 23 gallons of gas out of a barrel of oil.
Thats 460,000,000 gallons of gas a day.
So if the oil companies drop the at pump price by .01
it would cost them 4.6 MILLION a day.
Would be long before they would be broke OBAMA!
 
Doc Mercer

Doc Mercer

EOG Master
Re: The US uses around 20 MILLION BARRELS of PETROLEUM a day

Weak ass attempt to try and blame Obama

The Gig is up !!


The Republicans fuck up things more than John Daly does ...
 
R

Road Dawg

2
Re: The US uses around 20 MILLION BARRELS of PETROLEUM a day

RealDeal said:
you get about 23 gallons of gas out of a barrel of oil.
Thats 460,000,000 gallons of gas a day.
So if the oil companies drop the at pump price by .01
it would cost them 4.6 MILLION a day.
Would be long before they would be broke OBAMA!
Click to expand...

Broke? Are you kidding?

Exxon Mobil Posts Record Annual Profit

In 2007, Exxon, alone, turned a profit of $39.5 billion, the largest for a US company ever. Using your numbers, if Exxon dropped the price by $.01, over a year, it would "cost" Exxon around $16.79 billion in profit. Hardly "breaking" them. In fact it would leave them with a healthy $17.21 billion in PROFIT.

I'm not about to cry for Exxon or any other oil company. And of course, this is very simplified.
 
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RealDeal

2
Re: The US uses around 20 MILLION BARRELS of PETROLEUM a day

Road Dawg said:
Broke? Are you kidding?

Exxon Mobil Posts Record Annual Profit

In 2007, Exxon, alone, turned a profit of $39.5 billion, the largest for a US company ever. Using your numbers, if Exxon dropped the price by $.01, over a year, it would "cost" Exxon around $16.79 billion in profit. Hardly "breaking" them. In fact it would leave them with a healthy $17.21 billion in PROFIT.

I'm not about to cry for Exxon or any other oil company. And of course, this is very simplified.
Click to expand...
Yes it is very simplified. What does Exxon do with their profits?
What about figuring in the whole corporate picture. You have to look
at everything from stock dividends to corporate stores.
You statement about costing them 16.79 billion in profits is not right as
the is pre tax is it not? Do you think Exxon turns a profit every quarter?

I'm not crying for them but I'm not about to beat to death one of the
highest tax payers in the US either. Where are those numbers?
 
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RealDeal

2
Re: The US uses around 20 MILLION BARRELS of PETROLEUM a day

Corporate profits receive a lot of media attention, but what receives considerably less attention are the corporate taxes paid on corporate profits. Do a Google search for "Exxon profits" and you'll get about 8,000 hits. Now try "Exxon taxes" and you'll get a little more than 300 hits. That's a ratio of about 33 to 1.
<!--more--> I'm pretty sure that Exxon's tax payment in 2007 of $30 billion (that's $30,000,000,000) is a record, exceeding the $28 billion it paid last year.
By the way, Exxon pays taxes at a rate of 41% on its taxable income!
[Update: The $40.6 billion and $39.5 billion figures are after-tax profits. For 2006, Exxon's EBT (earnings before tax) was $67.4 billion, it paid $27.9 billion in taxes (41.4% tax rate), and its NIAT (net income after tax), or profit, was $39.5 billion.]
 
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Road Dawg

2
Re: The US uses around 20 MILLION BARRELS of PETROLEUM a day

RealDeal said:
Yes it is very simplified. What does Exxon do with their profits?
Click to expand...

I'm sure they use them to try and turn more profit, like any company.

RealDeal said:
What about figuring in the whole corporate picture. You have to look
at everything from stock dividends to corporate stores.
Click to expand...

PROFIT is everything turned AFTER operating expenses are covered.

RealDeal said:
You statement about costing them 16.79 billion in profits is not right as
the is pre tax is it not?
Click to expand...

Say it with me, Real... Companies do not PAY taxes. Oh I know taxes are levied against them, but the company has scores of lawyers and accountants working daily to figure exactly how much the coporate tax liability is going to be and then they pass this on to the consumer. Once again, PROFIT is what the company ends up with AFTER all operating costs (to include taxes) are paid.

RealDeal said:
Do you think Exxon turns a profit every quarter?
Click to expand...

I'm pretty certain they haven't turned a profit EVERY quarter they have been in existence, yet I'm struggling for the relevance here. I used a year for a time frame.
RealDeal said:
I'm not crying for them but I'm not about to beat to death one of the
highest tax payers in the US either. Where are those numbers?
Click to expand...

Companies don't pay taxes, Real. They pass them to the consumer.
 
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RealDeal

2
Re: The US uses around 20 MILLION BARRELS of PETROLEUM a day

Road Dawg said:
I'm sure they use them to try and turn more profit, like any company.



PROFIT is everything turned AFTER operating expenses are covered.



Say it with me, Real... Companies do not PAY taxes. Oh I know taxes are levied against them, but the company has scores of lawyers and accountants working daily to figure exactly how much the coporate tax liability is going to be and then they pass this on to the consumer. Once again, PROFIT is what the company ends up with AFTER all operating costs (to include taxes) are paid.



I'm pretty certain they haven't turned a profit EVERY quarter they have been in existence, yet I'm struggling for the relevance here. I used a year for a time frame.


Companies don't pay taxes, Real. They pass them to the consumer.
Click to expand...

YES I KNOW IT ROAD BUT OBAMA DOESN'T.
If you read my original reply to ANTI you will see that I said
that the taxes are passed on to the consumer.
NO NEED TO SCHOOL ME, you are barking up the wrong tree dawg.
OBAMA LISTEN TO DAWG BUT TRY NOT TO OFFEND THE LEGIONS
OF CHANGE BELIEVERS.
 
Doc Mercer

Doc Mercer

EOG Master
Re: The US uses around 20 MILLION BARRELS of PETROLEUM a day

You tell em Real Deal ...

the Right has their heads buried so far up Limbaugh's ass most of need
facial surgery
 
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RealDeal

2
Re: The US uses around 20 MILLION BARRELS of PETROLEUM a day

Anti GWB said:
You tell em Real Deal ...

the Right has their heads buried so far up Limbaugh's ass most of need
facial surgery
Click to expand...

Kind of like the left with Obama.
You buy his shit then I'm sure I can sell you the Golden Gate Bridge.
Change you can believe in :LMAO:LMAO:LMAO:LMAO:LMAO
 
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Road Dawg

2
Re: The US uses around 20 MILLION BARRELS of PETROLEUM a day

RealDeal said:
YES I KNOW IT ROAD BUT OBAMA DOESN'T.
If you read my original reply to ANTI you will see that I said
that the taxes are passed on to the consumer.
NO NEED TO SCHOOL ME, you are barking up the wrong tree dawg.
OBAMA LISTEN TO DAWG BUT TRY NOT TO OFFEND THE LEGIONS
OF CHANGE BELIEVERS.
Click to expand...


I read the entire thread and haven't seen anywhere you stated that corporate taxes are passed to the consumer.
 
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RealDeal

2
Re: The US uses around 20 MILLION BARRELS of PETROLEUM a day

Road Dawg said:
I read the entire thread and haven't seen anywhere you stated that corporate taxes are passed to the consumer.
Click to expand...
Earlier thread that had me start this one. I posted it for you with your
name in the title
 
Doc Mercer

Doc Mercer

EOG Master
Re: The US uses around 20 MILLION BARRELS of PETROLEUM a day

Real:

How is that Illegal war in Iraq running that is costing this country 16
billion per month?

Bush has done more damage to this country in one year than Obama
could do in 7 terms as President
 
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RealDeal

2
Re: The US uses around 20 MILLION BARRELS of PETROLEUM a day

Anti GWB said:
Real:

How is that Illegal war in Iraq running that is costing this country 16
billion per month?

Bush has done more damage to this country in one year than Obama
could do in 7 terms as President
Click to expand...
About as good as medicare, medicaid
and the department of education
 
Doc Mercer

Doc Mercer

EOG Master
Re: The US uses around 20 MILLION BARRELS of PETROLEUM a day

Sure it is ....

The "war on terror" is as phony as Bush's brain cell activity

Him and Cheney should be in jail cells awaiting execution
 
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RealDeal

2
Re: The US uses around 20 MILLION BARRELS of PETROLEUM a day

Anti GWB said:
Sure it is ....

The "war on terror" is as phony as Bush's brain cell activity

Him and Cheney should be in jail cells awaiting execution
Click to expand...
So should a lot of people that are in political office in my opinion.
Any elected official that steals from the taxpayers are guilty of
nothing short of treason as they have turned their back on the
best interest of the nation for self enrichment and at the least
should be sitting in a jail cell for a long time. That would be a
lot of democrats and republicans.
.
 
HotShotHarvey

HotShotHarvey

EOG Veteran
Re: The US uses around 20 MILLION BARRELS of PETROLEUM a day

All of this banter is bullshit!!! How much oil can we steal from the Arabs,Mexico and Venezuela-and how can we do it-is what is important!!!
 
Doc Mercer

Doc Mercer

EOG Master
Re: The US uses around 20 MILLION BARRELS of PETROLEUM a day

Hmmmm ...

dont recall any Dems lately that cooked Intel and used 935 lies to illegally invade and kill hundreds of thousands of Iraqis as well as having displaced
another 2,000,000
 
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