8 % -- oil companies
18% -- federal taxes
18% -- state and local taxes
34% -- operating profits of explorers
Pulling huge quantities of wealth out of the ground isn't easy. Finding and refining oil takes knowledge of geology, drilling technology, finance, transportation logistics, and environmental science. Pulling even larger amounts of wealth out of taxpayers, however, takes only two things:
IGNORANCE AND ENVY
If the public weren't so ignorant and envious of such capitalist exercises as making gasoline, perhaps they might turn their attention toward the biggest cost in their lives and also the biggest reason gas prices are high: government. If the government would spend less time punishing and restricting energy exploration and delivery, we might have more energy. If the government, however, wants to raise the after-tax costs of producing energy, we will surely get less, driving prices higher still.
Northwoods Patriots - Standing up for Faith, Family, Country - email@example.com