Home Forums Hunting & Shooting Hunter's Campfire Here is your next oil spike - Iran vs. Saudi Arabia

What too many people don't realize is that little "incidents" make the crude oil market nervous. Its a complicated world market with many smaller regional markets. There is a ripple effect when one region gets nervous about political instability, a shooting war and a blockade.
This one has the "look" of all three...............


http://thehill.com/policy/defense/2...bout-iranian-convoy-headed-towards-yemen

For those who criticize "big oil" profit, realize that the federal government makes 18 cents/gal. and they don't own an oil rig or have to make payroll.
Same for the states although their tax rates differ.
Here is a link to see how you state ranks with others.

http://www.api.org/oil-and-natural-gas-overview/industry-economics/fuel-taxes/gasoline-tax

Morning review

Actually on federal leases like in the Gulf of Mexico, The government takes 12% off all of the oil and gas that comes out of the ground plus the lease fees. Then corporate taxes on the operator's profits. I saw it written one year as 2% less than what the IRS take was that year.
The govt makes more than anyone in the oil business.
Plus when they send BSEE out to inspect your rig they charge 30,000 a day for a team of inspectors to write you tickets and fine you.