Gov’t Profits more from Gas Prices than do Oil Companies

Check out this great blog by Andrew Chamberlin of the Tax Foundation comparing government tax revenues from gasoline taxes to oil industry profits, with a nice graph. Only a couple of times in the last 25 years have the oil companies made more profit than the gas taxes have made for governments. Gas taxes as a means of reasonably funding roads makes sense. But this bit of data should give rational people pause before they lambaste oil profiteers. ‘Cause the real moneymakers are the government. Another reason people should question their impulse to ask the feds to “do something” about high gasoline prices. Do you really want to give them power over that, too?