Business
 
Question:
Avatar

Where does all the money go when gas hits an all time high record of $115 per barrell?

By 100 percent pure... BEEF CHUCK Asked Apr 16 2008 8:05PM
38
Pts
 
 
Rate Question
Answer Question Help someone!
Get the latest questions in Business
flag

Welcome to Answerbag, a community of people sharing what they know.
Sign up now to ask a question or help someone else by giving an answer!

signup now
Sort answers by: Rating | DateArrow Down
 

Top Answer out of 13

by RosieGHM Jetpacker on Apr 17, 2008 at 4:02 am Permalink

Avatar
In the pockets of the oil cartel and the oil companies..the oil companies didn't get those enormous profits any other way..it is on our back..their hands are always in our pockets. The gas station owners are told what prices they must charge by the big oil companies..that's why you see gas stations belly up from time to time...they go out of business beause their companies demand higher and higher profits! :(
18
Pts
 
 
Rate Answer
 
flag
Comments
Avatar Penal Colony Apr, 17 2008 at 06:19 AM
You got it, Rosie.

Answer 2 out of 13

by Penal Colony on Apr 17, 2008 at 6:21 am Permalink

Avatar
Much of it goes into the bank accounts of the Saudis, who then turn around and spend billions buying weapons, tanks, etc. from defense contractors in the US.
12
Pts
 
 
Rate Answer
 
flag
Comments (be the first to comment)

Answer 3 out of 13

by pnyknight on Apr 16, 2008 at 8:11 pm Permalink

Avatar
I always thought it went to funding the 'war'
12
Pts
 
 
Rate Answer
 
flag
Comments (be the first to comment)

Answer 4 out of 13

by .DanielleFLOURINE on Apr 16, 2008 at 8:09 pm Permalink

Avatar
Doesn't it go for the costs of extracting the natural resource? All I know for sure is that the price margin could have gone up even half a year ago, but our economy doesn't see it at the pumps for, well like I said about half a year. According to a Professor of mine, we ain't seen nothing yet.
8
Pts
 
 
Rate Answer
 
flag
Comments (be the first to comment)

Answer 5 out of 13

by Rollie on Apr 17, 2008 at 7:56 am Permalink

Avatar
The oil companies have been making record profits even with the increased price of crude oil. The Arab owners of the wells are surely getting increased profits. The US middleman is getting more and more profits (those who sell to independent stations). The share holders are getting increased profits.
Who pays = the "little people" who actually need to use the fuel to get to work and need to buy products shipped into their area. They are paying the full price!
6
Pts
 
 
Rate Answer
 
flag
Comments (be the first to comment)

Answer 6 out of 13

by Keysha on Apr 17, 2008 at 6:34 am Permalink

Avatar
Places like this: http://www.flickr.com/photos/lizating/911340835/

This is the Emerate's Palace Hotel. A 6-star hotel in Dubai. It is owned and operated by the Jumeirah International Group. They are part of Dubai Holdings. Sheikh Mohammed bin Rashid Al Maktoum as the Ruler of Dubai holds 99.67% of the company. HE is the vice-president of the United Arab Emirates.
6
Pts
 
 
Rate Answer
 
flag
Comments (be the first to comment)

Answer 7 out of 13

by Anonymous on Apr 16, 2008 at 8:10 pm Permalink

Avatar
It goes into the speculators pockets!
6
Pts
 
 
Rate Answer
 
flag
Comments (be the first to comment)

Answer 8 out of 13

by Friend on Apr 17, 2008 at 6:30 am Permalink

Avatar
President Bush`s Credit card
4
Pts
 
 
Rate Answer
 
flag
Comments (be the first to comment)

Answer 9 out of 13

by BABYCAKES on Jun 18, 2008 at 1:43 pm Permalink

Avatar
I THINK THE MONEY GOES TO THE RICH AND IT'S GOING TO GET WORST BECAUSE SOMEBODY IS TOO GREEDY AND WANT IT ALL .
0
Pts
 
 
Rate Answer
 
flag
Comments (be the first to comment)

Answer 10 out of 13

by Kiwi girl aka jeanie16 on Apr 19, 2008 at 5:31 pm Permalink

Avatar
very good question, I imagine it goes into the coffers of the ones at the top of the ownership pile, making them even richer again !!
0
Pts
 
 
Rate Answer
 
flag
Comments (be the first to comment)


Add an Answer

Where does all the money go when gas hits an all time high record of $115 per barrell?

How to write a good answer
Your answer:

Display answer in fixed-width font (good for tables or text diagrams)

Answers must adhere to our Terms of Use

To create links, just type the address with no HTML code. Use the Preview button at the bottom to verify.

You can edit your answer at any time.

Add Video Add Iimage


Important: Answerbag cannot guarantee the accuracy of answers submitted by members, and we recommend that you use common sense when following any advice found here. Read full disclaimer.