Where is all of our gas money going to?

Question

I've heard that its all going to this city called dubai in the UAE and that they are spending all of this money like crazy making these luxury hotels and attractions. is this true? does anyone know?

Answer 1

Into stockholders pockets and bonuses to the upper management of oil companies.

Answer 2

A very small portion is going into my 401k.

Answer 3

most money to buy gas from other countries but part of it is also being used for research for alternative sources of oil.

Answer 4

Mine gets taken in to the cashier and put into the register.

Answer 5

The majority of the cost of gas goes directly towards the purchase of the crude oil (I think it's around 75% of the cost of a gallon of gas), which would indeed be places like the UAE if that is where the oil came from.

The reason that the UAE is so rich is that they are a small country with a small population yet have large oil resources.

However, the US gets most of its oil from Canada and Mexico. Saudi Arabia and Venezuala fit somewhere in the top 5 I think as well.  Any countries beyond the top 5 involve relatively small amounts of oil being imported.  So most of our gas costs go to the owners of the oil in those top 5 countries. I can't remember the 5th but I'm pretty certain it isn't UAE.

A tiny portion (around $0.08-$0.09) per gallon goes to the oil companies' profits.  Around $0.18 per gallon goes to the US government in the form of tax.  Maybe $0.01 or $0.02 per gallon goes to the gas station.  State taxes may apply depending on your state.  I'm not sure where the rest of it goes.

Answer 6

to whoever youre buying it from

Answer 7

Into the bank accounts of the CEO's of the companies!