As a petroleum service tech, I think the service and fueling equipment industry is making all of the money! Just a card reader in a dispenser may cost $2,000 these days.
@jeffrojefferson88
5 күн бұрын
So glad I came across this. So interesting to me. I have another dozen of your videos lined up ready to watch when I get time.
@siarnne
13 күн бұрын
If the business is inside the store, why has all of this money been spent on Pay-at-the-pump technology? It can't be cheap and it would seem to hurt the industry overall.
@lakeguy65616
14 күн бұрын
gas is normally a loss leader to get buyers into the convenience store. The convenience store is where profits can be found.
@kennethlove5778
12 күн бұрын
Similar to movie theater...they make some money on the tickets...but its the 8 dollar coke abs 10 dollar popcorn where rhe money comes in
@WrogerWhallet
3 күн бұрын
@lakeguy65616 That's very interesting. So Mobile and B.P. are making all their Extreme profits from the sales Of cigarettes and hubabuba; cups of coffee and donuts; PBR & hotdogs 🌭🍻 (¿?¿?)
@thejeepster90
12 күн бұрын
It’s so much more complicated than this. Refineries setting limits on gas stations volumes, regulatory and tax implications between gas and commodities, just to name a couple
@dannydaw59
14 күн бұрын
80% of gas stations are independently owned. Oil companies can divide and conquer them.
@michaelvanhorn3271
9 күн бұрын
Government makes the most
@DangerousPopcorn
Жыл бұрын
Very promising. Always the best from the guys at freakonomics
@tarjei99
Ай бұрын
In Norway, the fuel chains are using food chains like 7-11 to make themself more attractive to the customers. Drivers of electric vehicles pay attention to where the petrol stations are located.
@WrogerWhallet
17 күн бұрын
As I understand it, the oil produced within the USA is not compatible with the majority of the refineries across the nation. Tankers offload oil in Texas, and the oil of Texas is loaded onto the empty tanks. This is because the large majority of the refineries need sour oil to be more profitable, i.e., the chemical industry must be fed .
@nunyabidness3075
16 күн бұрын
Correct, and that doesn’t change because of the EPA and environmental lawyers.
@nunyabidness3075
10 күн бұрын
@@WrogerWhallet Like many of our bureaucracies, the EPA can exert much more than its legal power by simply dragging its feet. Since it is staffed by people who want to end fossil fuels rather than accept we have a certain level of likely use, they can and do stop many projects by stopping a few. No sensible business person is going to start investing in conversion if the likely outcome is a decade of compliance and studies during which the regulators will not only be looking to stop the project, they will be looking for anything that will allow them to interrupt or fine the existing operation. I believe there’s been a single new refinery built in decades, and I think they built it right next to an existing refinery to help avoid legal attacks by lawyers who go looking for clients to stop or at least extort, any new petroleum infrastructure. I had my aircraft rental operation halted for three days because a local FAA guy wasn’t familiar with the new aircraft and thought he found a reason the model should not have ever been certified. The certification had taken years and millions of dollars to complete with both EASA and the FAA yet the lowliest inspector could, without fear of career damage, question the thousands of regulator man hours spent to do the certification. Meanwhile, I paid all the overhead including interest, taxes, and insurance while my business was halted. This is now the norm in the US government.
@pw2121
Жыл бұрын
Amazing Really insightful😊
@glensmith491
20 күн бұрын
As I near retirement and take a hard look at my retirement assets, I will be making a significant portion of my retirement income from gasoline both directly and indirectly.
@frizzed4207
16 күн бұрын
But who profits when gas goes up? I feel like the question didn't get answered.
@stevenswitzer5154
10 күн бұрын
OPEC
@danieljackett4193
11 күн бұрын
Take the federal, State, and local taxes on gas, multiply by 3, and that's the MAXIMUM a gallon of gas should cost In Michigan for 2024, that Max price should be $1.47 a gallon
@bellal5234
Жыл бұрын
Did this podcast end? Just started and loved it but realized there hasn't been an upload in a while 😢
@Freakonomics
Жыл бұрын
Stay tuned!
@TheRealEdStoner
11 күн бұрын
Don’t forget the federal and state government make more than the owners.
@JimAllen-Persona
18 күн бұрын
The one flaw in the argument is that you’re assuming gasoline is a commodity and it doesn’t matter to a consumer where they buy their gas. There’s brand loyalty, convenience and a lot of other factors. Economists assume their models are reality based.
@neerajwa
18 күн бұрын
There is no brand loyalty. Credit cards drive what your call as loyalty
@tomr6955
16 күн бұрын
Brand loyalty for buying gas??
@greylatern
13 күн бұрын
The only brand loyality that exists is company gas cards. I have never know someone to go to a particular company because of brand. However gas price and delhi absoluty. That includes driving a extra few miles. Finally and most importantly, no such thing as brand loyally. There are owners in my town who own stations from different brands. Only company credit card holders and high end cars actually care about brand
@lilyschunn1507
13 күн бұрын
My family is brand loyal to Kroger fuel because of the crazy savings we get.
@eddiewatts7792
12 күн бұрын
No brand loyalty in the UK even without people understanding it's all from the same few suppliers. Only a few people care about additives and premium grades. Most buy the cheapest supermarket fuel available. 95 octane is the base product here
@bwasman8409
2 күн бұрын
Where did he get the money to buy the gas station?
@williammorrill946
11 күн бұрын
Not the station owner, that's for sure.
@stevenswitzer5154
10 күн бұрын
OPEC
@jasontheauralnaut7268
14 күн бұрын
When the fuck does a gas station owner interact with customers???
@lukeleyow5006
15 күн бұрын
*we Americans
@stoundingresults
7 күн бұрын
I'm grateful for having 6 fuel stops near me in a 2 mile radius. I like watching communist countries failing videos like CUBA where sometimes poor folks queue up for 2 days to buy fuel. Also I have the luxury of keeping my tanks full.
@stephenharriau1406
10 күн бұрын
Government
@raceabilene
Жыл бұрын
Not sure where you gather your info about fuel prices, but I can tell you after listening to this first run of the podcast that in west Texas, none of what you say applies. Pretty much any one station sets a price, most of the others in the next 20~60 mile range will be about the same plus/minus a penny or so. Some places off the highway price match, some are as much as 0.40+ over - apparently those few stations don't really want to sell fuel. Specifically the QT station will sometimes start the morning with a price well lower - 0.05~0.10 than Allsups, Flying J, Iron Horse, etc but by noon they'll be back in line with the others. And you know dang well that when fuel jumps 0.20 between 8AM and 11AM with no fuel delivery that the fuel in the underground tanks didn't cost the stations 0.01 more than yesterday. But the price jumps anyway. I'll also note that in Odessa, where there is a refinery in Big Spring which you'd think would reduce transport costs, prices are generally 0.10~0.20 higher than 100 miles east. Monday the Iron Horse in my city was 3.389, Wednesday it's 3.489 and it was the same at all stations both days for the next 30 miles. Even the Flying J, which is usually 0.02 higher than the two DK stations right across from it.
@lakeguy65616
14 күн бұрын
fuel taxes are the single biggest expense in a gallon of gas.
@kkinva68
8 күн бұрын
crude oil is the single bigget expense in a gallon of gas
@ahbushnell1
19 күн бұрын
Next EV charging stations.
@petermundorff6100
17 күн бұрын
Not enough electricity for that!
@elainebradley8213
13 күн бұрын
Love our Tesla charging at home. Such freedom. But a friend of ours in 50's had a garage and said that he made no money off the gas it just brought people in to his station.
@chris2790
11 күн бұрын
@@elainebradley8213freedom... 😂 Drive an ice. You're polluting with your "zero emission" EV. Alot.
@GM-jv9jz
17 күн бұрын
Thats not true that 1/2 of Americans want electric vehicles. There's a ton of downsides to them.
@jerodewert8334
16 күн бұрын
He was talking about people in general, my electric car is great. 2013 Nissan Leaf with a 2018 battery. I visit the gas station for candy and tire inflator.
@w420666
14 күн бұрын
Pfft... $1.49 for a big o ice
@BeatlesBowieKrimson
19 күн бұрын
Us Americans? US? You started your video with incorrect grammar. It's WE Americans. Yes, your next sentence is correct. But your first one shows your ignorance.
@barryhaley7430
19 күн бұрын
This is social media. Not a literary treatise. Lighten up.
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