Gasoline grumbling thread

[IM4given]

Hold on to you hats! Here it comes....

Coming soon: $6/gallon gasoline

Staff Reporter | Posted May 22, 2008 10:37 AM

Analysts blamed the higher oil prices on increased demand and speculators hoping to profit from the rising prices. But the impact of the higher prices could affect American consumers at the gas pump in the immediate future.

CNBC's Jim Cramer told NBC Nightly News host Brian Williams Wednesday night that the average price of gas could reach $6 a gallon by the end of the summer. Meanwhile, another analyst was predicting gas could soar to $12-$15/gallon in the future.

The current national average for gas is $3.83 a gallon, and energy adviser Robert Hirsch told reporters recently that if the price continues to rise that the government may have to ration gas some time soon.

Some media outlets have taken to calling the situation an "oil crisis," and the issue is likely to impact the presidential campaign in the fall. Senators John McCain, Hillary Clinton and Barack Obama have all proposed solutions to the oil crunch, and McCain and Clinton have each endorsed a proposal for a gas tax holiday from June to September.

The holiday would temporarily halt the 18 cent/gallon federal gas tax during the summer months. Senator Obama has criticized the move, saying that it would remove much needed funds from the federal highway trust used to maintain and rebuild the nation's roads.

[JerryNumbers]

I'm sure it would not bother the petroleum companies for gas business to decline, they would love nothing better than to sell less gas while their pocketbooks get even fatter.

But hasn't that been the goal of big business, haven't they been working towards gobbling up the smaller business for years. With them doing this capitalism does not work, they set their own prices and you either buy their product or do without. Of course our politicians have helped them reach their goals.

[Anon]

Federal gas tax is only 18 cents? I'd like to know how much local and city is then...I know PA folks often go to NJ for gas because gas is the ONLY thing NJ is light on the taxes with....

[Chelle]

Test #4 A/C On, Windows Up vs. A/C Off, Windows Down

Result: Nice in theory; not true in practice

Cold Hard Facts: No measurable difference (unless you open the sunroof, too!)

Recommendation: Please, make yourself comfortable.

Air Conditioner: Read the entire test

This is very good news. :lol (especially to a Houstonian driving during the months of June through September)

But hasn't that been the goal of big business, haven't they been working towards gobbling up the smaller business for years. With them doing this capitalism does not work, they set their own prices and you either buy their product or do without. Of course our politicians have helped them reach their goals.

You've just very accurately described corporate welfare, Jerry -- government helping certain big businesses (the ones with "persistent" lobbyists) with subsidies, etc. True free-market capitalism helps all businesses, not just the big ones.

[JerryNumbers]

Federal gas tax is only 18 cents? I'd like to know how much local and city is then...I know PA folks often go to NJ for gas because gas is the ONLY thing NJ is light on the taxes with....

That is easy. :tum For all if them click on the link.

http://www.gaspricewatch.com/usgastaxes.asp
gas diesel
Arkansas 21.5 22.5 Plus .2-cpg environmental assurance fee assessed at the wholesale level for underground storage tank fund.

gas diesel
Pennsylvania 31.1 35.1 Plus 1.1 cpg fee on gasoline going into USTs (rate increased 1/1/04 from 1 cpg to 1.1 cpg). Includes 18 cent per gallon oil company franchise tax on liquid fuels (primarily gasoline) and 23 cents per gallon oil company franchise tax on fuels (primarily diesel) and a 12 cents per gallon tax liquid fuels tax rate. (Oil company franchise tax rate increased from 14.2 cents per gallon to 18 cents per gallon for gasoline and from 19.2 cents per gallon to 23 cents per gallon for diesel on 1/1/05.) Franchise tax based on the average wholesale price of gasoline during a 1-year period. For 2004 the average price was $1.17, up from 91.9 in 2003.

gas diesel
New Jersey 14.5 17.5 Includes 10.5-cpg excise tax plus 4 cpg Petroleum Products Gross Receipts Tax.

Wow, NJ does have cheap taxes.

[JerryNumbers]

This is very good news. :lol (especially to a Houstonian driving during the months of June through September)



You've just very accurately described corporate welfare, Jerry -- government helping certain big businesses (the ones with "persistent" lobbyists) with subsidies, etc. True free-market capitalism helps all businesses, not just the big ones.

Free market would help all business, except for one fact. Big business has the Congressmen in their pockets so that really cancels out free market.

In Americas political system, the one who has the money is the one who get the favors. That leaves millions of Americans out in the cold.

Now if our congressmen went to Washington and actually representative their home folks as the originally intentions were, it would be a different story.

Check out our congressman's retirement system.

Also check out their wealth.

[Anon]

Thanks Jerry! Yeah NJ has cheap GAS tax but they make up for it in everything else!

Wow, all those taxes, and they are complaining about the OIL moguls????? Gracious, talk about a red herring.... if the government would just cut back on all their foolish spending, including millions of dollars of money wasted on .... better not open a can of worms here....anyway....millions of dollars wasted, states could pull gas prices down at least a dollar tomorrow if they really wanted to.

[HappyChristian]

That's why they are looking into gouging. The investigation has been going on since the fall, but secretly. They just let the cat out of the bag...don't know if anything will come of it. The gouging is not from the oil companies, IMO (although they get plenty).

[Guest Guest]

Our preacher talked about gas last night in his sermon. He read a verse that mentioned "spoil". He stopped to tell us what "spoil" meant and he said that if two countries went to war and one invaded the other, that all the goods of that land were taken by the invading country. So he said, whether we agree with the war or not, that since we invaded Iraq, the oil should be ours for the taking and we should not be having to "buy" it.

[Anon]

That's why they are looking into gouging. The investigation has been going on since the fall' date=' but secretly. They just let the cat out of the bag...don't know if anything will come of it. The gouging is not from the oil companies, IMO (although they get plenty).[/quote']

I believe the oil company's profit was only 8%. I know I get more % than that making cakes, although much smaller scale of course! (Too bad! haha)

[HappyChristian]

Ah, but keep on and maybe the scale will grow!! :Green :thumb

[John81]

Our preacher talked about gas last night in his sermon. He read a verse that mentioned "spoil". He stopped to tell us what "spoil" meant and he said that if two countries went to war and one invaded the other' date=' that all the goods of that land were taken by the invading country. So he said, whether we agree with the war or not, that since we invaded Iraq, the oil should be ours for the taking and we should not be having to "buy" it.[/quote']

That's true, but in this backward world things don't work that way today. It's not considered right for "civilized" nations to take stuff from other countries like that anymore.

Of course, Bush and Company promised that ridding Iraq of Saddam would mean cheaper oil and thus lower gas prices at home. :roll

[HappyChristian]

Of course' date=' Bush and Company promised that ridding Iraq of Saddam would mean cheaper oil and thus lower gas prices at home. :roll[/quote']

John, not that I'm doubting you, but when was that said? Since we don't get the majority of our oil from Iraq, that seems a little out of the ballpark, KWIM?

[John81]

This was very early on. They believed after Saddam was removed that Iraq would welcome Americans with roses and kisses akin to how the French welcomed Americans in 1944. It was expected that Iraq would quickly become democratic and stable, their oil would flow freely and heavily and America would reap the benefits of this. It was also expected the new, stable and democratic Iraq would bring calm to the region and oil prices would drop as a result.

We know that none of this panned out and the Bush Administration was totally unprepared for what happened in post-Saddam Iraq.

I can't quote any sources at this time, I'm just going from memory.

[JerryNumbers]

I for one, I'm glad that Saddam is not murdering his people no longer. He got just what he deserved.

I can't believe some people are so greedy they want America to steal from Iraq, take spoils of war.