As you can see here, 72% goes to the price of crude oil.Another 16% is eaten up by refining, distribution and service stations, and the last 12% is taken away by taxes.That is a total of 100%.That is right, Nation.Oil is a zero-profit business.[..]
And yet somehow, in 2007,Exxon/Mobil earned $1,300 a second. $1,300.Yes, that’s a lot of money, but it is an unlucky number of 100s. Nation, that means even though 100% of gasoline prices are canceled out by costs, these companies are somehow able to wring mind-bending revenue out of their not-for-profit venture. I think it’s pretty impressive.