Gas Money $?

Question

where is all the money for our extremely over priced gas going? is it helping anything at all or is it simply drying up our economy?

Answer 1

It goes to the filthy pockets of oil producing companies

Answer 2

Good Question. The money goes to the country/individuals that own the oil well, the companies/futures traders that purchase the oil from the well, the shippers that ship the oil to refineries, The refineries, the gas companies that buy the gas from refineries, the gas shippers, the gas stations, and the taxes applied at every point along the way.

About half of our oil comes from oil wells here in the US. We have oil fields in Penn., Ohio, Ind., ILL., OK, NM, Cal., Tex., Alaska., and other states. Most of these wells are owned by small companies and individual investor groups, NOT the big oil companies. We could raise that up if we could use more domestic sources, but our "Environmentalists" have stopped that. The Liberals and our news media have brainwashed the masses into thinking all oil wells are owned by the big oil companies. Not true.

Answer 3

It's the market!

However surely the market can set all the prices,

also all low cost products would fail...

Answer 4

what make u think its overpriced? its worth what people will pay...the money doesn't go to "big oil" as some think..[although they do make tons of money]...most goes to oil producers...Venezuela,Iran,Iraq,Saudi Arabia UAE.Qutar

Answer 5

As oil becomes scarcer the cost of extracting it goes up, which is part of the problem.  There is also profiteering by the oil companies which are only in it for the money.  They may know that Peak Oil has occurred, and if so then all the more reason to jack up the prices even more.

It's a bit like being a drug addict; the pusher sells to you cheap at the start to get you hooked, then the price goes sky high.  Our society is hooked on oil and now the suppliers can charge whatever they like, and do.