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| Economy |
| US gasoline prices surpass $4 |
| 2011-05-01 |
| [Iran Press TV] As oil companies rake in record profits in the first-quart earnings, the price of gas at the pump has risen to more than USD 4 per gallon in the United States. In some states, the price of gasoline has risen to more than USD 4.50 per gallon, according to the American Automobile Association's (AAA) Daily Fuel Gauge Report. With the price of gas continuing to rise across the country, the Big Five oil companies -- ExxonMobil, BP, Shell, Chevron, and ConocoPhillips -- have announced record earnings totaling USD 34 billion within the first quarter of 2011, The Huffington Post reported. This is a 42 percent increase in combined profits from last year. Exxon alone reportedly has gained USD 10.7 billion in profits this year, which is up 69 percent from 2010. The price per barrel of oil is at a record high of USD 113, while producing it costs companies approximately USD 30. This, itself, has added to the companies' record profits. Additionally, taxpayer subsidies for oil and gas companies are at around USD 4 billion a year. Earlier this month, Goldman Sachs admitted that speculation on oil and gas stocks has contributed to the rise in the price of oil. The American Petroleum Institute (API), however, claims that the companies' profits reflect their contributions to the US economy. "The US oil and natural gas industry's strong earnings signal growing strength in our economy," API President and CEO Jack Gerard stated earlier this week. |
| Posted by:Fred |
| #9 For those who service your own vehicles, Gastro 10W40 @ $ 16.00 per quart. Get ready! |
| Posted by: Besoeker 2011-05-01 22:31 |
| #8 European equivalent would be US$9 per gallon (mostly taxes, of course. |
| Posted by: European Conservative 2011-05-01 21:56 |
| #7 ITS BEEN PRETTY QUIT AROUND HERE I take it the May Day celebration finished early and left you with time on your hands. |
| Posted by: Pappy 2011-05-01 21:53 |
| #6 Remember a few days ago (weeks?) the article that Shell was all set to open a new field in Alaska when the air permits were held up by the EPA. Air permits! Not even the moose cared! |
| Posted by: Bobby 2011-05-01 13:30 |
| #5 #stickynotecampaign - check it out! |
| Posted by: newc 2011-05-01 13:21 |
| #4 1. Isn't it interesting that Obama Sr. overstayed his student visa (*that's illegal alien to you) and had a deportation order against him. 2. Oil and it's products is the most heavily taxed commodity after tobacco. 3. Can't drill in the Gulf of Mexico (250,000 bbl/day missing, going on 500,000). Can't drill in Alaska (27 billion barrels potential, Alaskan oil pipeline may have to shut down due to lack of flow). Can't drill off California even though oil is seeping from the seabed. Can drill off Florida. Can't drill off the Eastern Seaboard. Can't drill on federal lands (most of the Western US). 4. play4keeps: A tale told by an idiot, full of sound and fury, signifying nothing |
| Posted by: Zebulon Thranter9685 2011-05-01 09:56 |
| #3 "ITS BEEN PRETTY QUIT AROUND HERE" We wish you would. Quit, that is. |
| Posted by: Barbara Skolaut 2011-05-01 09:52 |
| #2 That's just a beggining. |
| Posted by: gr(o)mgoru 2011-05-01 05:09 |
| #1 1.Blame The illegal alien president OBAMA 2.OHH cant tax big oil SIGH!!!!!!!!! 3.Cant Drill enough to fix squat. ANYONE? ITS BEEN PRETTY QUIT AROUND HERE |
| Posted by: play4keeps 2011-05-01 04:16 |