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Thesis & Antithesis

A critical perspective on energy, international politics & current affairs

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Location: Washington, D.C.

greekdefaultwatch@gmail.com Natural gas consultant by day, blogger on the Greek economy by night. Trained as an economist and political scientist. I believe in common sense and in data, and my aim is to offer insight written in language that is clear and convincing.

17 February 2006

The government’s windfall

This is an interesting fact from today’s Wall Street Journal: “In any case, the biggest "windfall" from high oil prices hasn't gone to the oil companies but to federal, state and local governments. The Tax Foundation reports that the average tax on gasoline is 46 cents a gallon. The average profit that the oil industry earns on that gallon of gas, even at today's high prices, is 18 to 20 cents. The government already grabs $2 for itself for every dollar the energy companies and their investors receive.”

References:
“OPEC Protection Act,” Wall Street Journal, 17 Feb 06

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