Thursday, May 12
that was some storm last night.
here's todays economic lesson:
The BP station that had gas for $4.59 a gallon now has gas for $4.39 a gallon....let's look at the math.
Assume (and all my numbers are assumptions, but can't be too far off) that of the $4.59, one dollar is tax. so the cost of the gas itself is $3.59. Assuming that 80% of the cost is related to the cost of a barrel of oil, and that oil is approx 25% less than it was at its peak a few weeks ago, the 25% drop should have resulted in a 72 cent decrease in the cost of a gallon of gas at the pump. But, you say, the price has only gone down 20 cents...wtf???? where is the rest of our savings???
the rest of our savings, folks, is going into the pockets of BP, Shell, and the other oil companies who will all post record profits for the quarter, and who are defending the tax cuts they are getting today, in front of congress.
what a crock...bend over and take it, middle class. nothing is going to change.
here's todays economic lesson:
The BP station that had gas for $4.59 a gallon now has gas for $4.39 a gallon....let's look at the math.
Assume (and all my numbers are assumptions, but can't be too far off) that of the $4.59, one dollar is tax. so the cost of the gas itself is $3.59. Assuming that 80% of the cost is related to the cost of a barrel of oil, and that oil is approx 25% less than it was at its peak a few weeks ago, the 25% drop should have resulted in a 72 cent decrease in the cost of a gallon of gas at the pump. But, you say, the price has only gone down 20 cents...wtf???? where is the rest of our savings???
the rest of our savings, folks, is going into the pockets of BP, Shell, and the other oil companies who will all post record profits for the quarter, and who are defending the tax cuts they are getting today, in front of congress.
what a crock...bend over and take it, middle class. nothing is going to change.
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