Quote Originally Posted by Aloha_Shooter View Post
However, Ronin is correct that oil company profits are roughly 5% (or less) of the gross price so the federal government actually makes more per gallon than the oil company does (and the state gets even more!). Overall oil company profits are up in part because they have diversified and raked in huge profits from federal expeditures to promote "alternative" energy.
I saw a report that in 2011, Exxon reported about an 8% profit world-wide, and much less than that in the US. Small wonder that they like to export. Given that nearly all levels of government are in a budget crunch, it's highly unlikely that the tax on gasoline and diesel will be reduced.