[SunkenCiv]

Quick! Everybody! Blame an 80 cent a loaf increase of RYE bread (which is of course partly wheat) on ethanol! Don't blame fuel costs, which have a direct impact on production and transportation (among other things).

[SunkenCiv]

Schumer proposes tax on oil-company profits
Friday, May 02, 2008; Posted: 08:11 AM
Plattsburgh, May 02, 2008
The Press-Republican - McClatchy-Tribune Information Services via COMTEX
U.S. Sen. Charles Schumer is proposing a windfall-profits tax on oil companies.
http://www.tradingmarkets.com/.site/news/Stock%20News/1485234/

Oil Prices Hit Record High; Impact on Gasoline
(Schumer calls for oil drilling in National Forests)
WSYR.com | 29 Feb 08 | staff
Posted on 02/29/2008 5:07:03 AM PST by saganite
http://www.freerepublic.com/focus/f-news/1978188/posts

Oiling the Skids
Freedom News | May 3, 2006 | Tim
Posted on 05/03/2006 3:22:12 PM PDT by TBP
http://www.freerepublic.com/focus/f-bloggers/1626231/posts

[snip] Just look at the huge smile on the face of Senator Charles Schumer (D-NY) when he warns us about the possibility of $4.00 per gallon gasoline. [end]

Unreserved
TNR | Post date 05.20.04 | by Clay Risen
Posted on 05/20/2004 9:13:17 AM PDT by .cnI redruM
http://www.freerepublic.com/focus/f-news/1139201/posts

[snip] This week 25 Democrats, led by Charles Schumer, introduced a Senate resolution calling for Bush to release 30 million barrels — 1 million a day for a month—from the SPR... even if releasing oil from the SPR brought some short-term relief, we can’t do it for very long, especially at the million-barrels-per-day rate that Schumer and others propose. After a few months we’d have to stop, and prices would return to their previous level. [end]

[SunkenCiv]

Dumb Intercourse Chuck is a HERO around here, a HERO I say. ;’)

Schumer: Lift ethanol tariff to cut milk prices
Saturday, January 19, 2008
[from Newsday]
American Fuels
Alternative Fuels News and Commentary
http://www.americanfuels.info/2008/01/schumer-lift-ethanol-tariff-to-cut-milk.html

In a bid to bring down milk prices, Sen. Charles Schumer (D-N.Y.) announced legislation yesterday that would temporarily repeal a tariff on foreign ethanol, freeing up more supplies of corn for dairy farmers.

[Nathan Zachary]

"He had to raise the price to keep up with higher costs - such as the 100-pound sack of flour for which he pays three times more than just a year ago..

Hmmm. He's paying 3 times as much for a sack of flour over what he paid last year.

I can tell you it ISN'T because commodity prices went up. That would only account for a 25% increase at the very most. ($5.75 per bushel vs $4.40 last year per bushel)

But don't let little things like FACTS stop anyone from blaming it on Ethanol production.

[familyop]

"but his loyal customers at Reinwald's Bakery in Huntington only see the extra 80 cents they now have to pay for a loaf of rye bread"

LOL! He's more than keystoning (doubling) his increases in costs on that.

[Cold Heart]

If you read the article it will tell you that ethanol is not the total cause of the increase.

However, some farm groups feel that food costs are up 15 to 20% due to biofuels.

I don’t care, the sooner they get that crap out of my tank the better.

[Sergio]

Schumer proposes tax on oil-company profits

I really wish that passing a basic, college level economics class was a requirement for holding public office.

Yo Chuck! Any tax you levy on the oil companies, will be passed on to the consumer in the form of increased fuel prices.

Why are politicians so mind numbingly stupid!

Increase the supply and prices will drop. Drill off of both coasts, in the Gulf, and in Alaska. Oh, the liberals won't allow that.

Build some new refineries to increase production capacity. Oh, the liberals won't allow that.

Build new nuclear power plants. Oh, the liberals won't allow that.

How about some new hydroelectric plants. Oh, the liberals won't allow that.

I know, some new wind farms. Oh, the liberals won't allow that.

Seems the liberals are against anything and everything that could be done to lower energy prices in this country, and yet amazingly enough, are surprised that energy prices are increasing.

[mountainbunny]

I hate to be a party pooper, but bananas, yoghurt, apples, and potatoes were all less expensive at Target tonight than they have been in a while. And Target isn’t always the least expensive place to shop.

Many things seemed to have been deeply discounted, and we paid less for a few things than we have in several months. I bought Rice Chex (now Gluten Free!) for more than a dollar less per box than normal.

Some of these recent price increases have been somewhat opportunistic, and seem to be leveling off and even lowering a tiny bit.

I guess that some prices are lower or stable doesn’t make the best news story, though.

[CGTRWK]

He’ll put on on a press conference to show his deep concern about a loaf of bread that costs you an extra 80 cents, and in the next breath demand a repeal of the Bush tax cuts which would cost you thousands or tens of thousands of dollars.

[count-your-change]

How much tax is there on a loaf of bread purchased at this bakery on Long Island (or any other for that matter)?

[clodkicker]

You get about 60 loaves of bread from a bushel of wheat. If bread went up by 80 cents wheat would be like $48/bu. Might be some other factor other than the price of wheat.

[SunkenCiv]

Report: US Ethanol Production up 37% in Q1
6 April 2008
http://www.greencarcongress.com/2008/04/report-us-ethan.html

BENTEK Energy, LLC, an energy markets information company, estimates that the US ethanol plant fleet has produced 1.9 billion gallons of ethanol through the first quarter of 2008. This outpaces last year’s production in the first quarter by 517 million gallons, or nearly 37%. Average daily production through the first quarter of 2008 was approximately 21.4 million gallons per day [about 509,524 barrels], which compares to an average of 15.6 million gallons per day in the first quarter 2007 and an average of 17.8 million gallons per day for all of 2007... The US has approximately 134 ethanol plants in service in 2008 compared to 68 plants five years ago in 2003, with a production capacity of 7.229 million gallons per year (mgy), according to the Renewable Fuels Association (RFA). An additional 77 plans under construction or expanding could bring a potential additional capacity of 6.217 mgy onstream.

[US ethanol production appears to equal .0246301542 US petroleum consumption, about 2.5%]

Basic Petroleum Statistics (data for 2006 except where noted)
http://www.eia.doe.gov/neic/quickfacts/quickoil.html

Gallons of Oil per Barrel — 42
U.S. Crude Oil Production — 5,102,000 barrels/day
Texas - 1,088,000 barrels/day
Top U.S. Petroleum Refining States #1 - Texas 4,241,000 barrels/day
U.S. Petroleum Consumption — 20,687,000 barrels/day
U.S. Crude Oil Imports — 10,118,000 barrels/day
Share of US Oil Consumption for Transportation — 68%

U.S. Total Petroleum Exports — 1,317,000 barrels/day

[PapaBear3625]

Blame an 80 cent a loaf increase of RYE bread (which is of course partly wheat) on ethanol! Don't blame fuel costs, which have a direct impact on production and transportation (among other things).

How many farmers have switched from planting wheat to planting corn?