Free Republic

Gov. Mark Dayton walked into unfriendly territory Wednesday to pitch his plan for a gas tax increase to fund transportation needs. Surrounded by business leaders at a Minnesota Chamber of Commerce dinner, Dayton reiterated his call to raise $6 billion over 10 years by applying the sales tax to gasoline and imposing a series of fee increases. But minutes before Dayton took the stage, a chamber leader repeated the position of the business group: Road work should be paid for without raising taxes and fees. "I know there are things about state government and my administration's policies that you don't...

When prominent members of both political parties talk about the possibility of taxing fossil fuels – you know something serious has shifted in U.S. politics. On Monday morning, former Treasury Secretary Lawrence Summers, a largely pro-business Democrat, published a column in The Washington Post calling for the imposition of a carbon tax.

(WASHINGTON, December 29, 2014) Average gas prices in two states – Missouri ($1.93) and Oklahoma ($1.98) – have dropped below $2.00 per gallon for the first time since 2009. The national average has fallen 95 days in a row for a total of $1.06, and prices have plummeted $1.38 (nearly 40 percent) since the start of June. The national average price for regular unleaded gasoline is $2.29 per gallon, and motorists are saving 11 cents per gallon compared to one week ago, 49 cents compared to one month ago and $1.02 per gallon compared to this same date last year....

Stefano Pozzebon and Reuters January 5, 2015 U.S. crude and Brent futures dropped to fresh 5-1/2-year lows on Monday as worries about a surplus of global supplies amid weak demand continued to drag on oil markets. At 11.30am GMT (6.30am ET) Brent was trading at $55.35 a barrel, losing 2%. Previously, it temporally slipped as low as $55.16, its the lowest values since May 2009. Here is a chart of how it looked at 11.30am GMT (6.30am ET): Brent 5.1.15 11.30am Investing.com U.S. crude slid as low as $51.40 a barrel, also its lowest since May 2009, and at 11.35am...

Recent Price Plunge Looks Good After Years of High Costs, but Fill-Ups Were Less Expensive From 1986-2003 U.S. gasoline prices are the lowest they’ve been in five years. And they feel even cheaper because they come on the heels of the highest gas prices consumers have paid in three decades.In 2012, the national annual average for a gallon of regular unleaded gas—the yardstick for gauging prices—hit a high of $3.77, capping a series of years in which the average exceeded $3 a gallon. Before that, the last time the average was so high was in the early 1980s, when, adjusted...

The average price for a gallon of gas has dropped for 99 days in a row, with six states – Indiana, Kansas, Michigan, Ohio, Oklahoma and Missouri – having average prices under $2 for the first time since 2009, according to price surveys Friday. Prices have plummeted about 40 percent since the start of June. Put another way, the Auto Club estimates that Americans are saving $500 million -- per day, each day – compared to the high prices paid last spring, allowing that money to be spent with businesses other than oil companies or just kept in the savings...

Minnesota's highway needs can't be met without more tax revenue, Gov. Mark Dayton said Tuesday -- setting him up for a possible clash with the new Republican majority in the House. Dayton is finalizing his 2016-17 budget proposal, which aims to raise what he says is the $6 billion Minnesota's roads need over the next 10 years. The plan calls for a 6.5 percent wholesale surtax on gasoline -- separate from the existing 28.5 cents-per-gallon tax already levied. That means the tax would bring in more money when gas prices increase. "Our transportation systems are getting worse," Dayton said. "Anybody...

This policy brief focuses on the challenge of developing a viable, user-friendly, per-mile charging system to replace fuel taxes for the nation's major highways. In doing so, it outlines 10 reasons why per-mile tolling is a better highway user fee than fuel taxes. Reason 1: Per-mile tolling is a direct, rather than indirect, user fee. Motorists would pay for the amount of service they received; they would pay providers directly for providing that service; and they would know exactly how much they were paying and what they were getting for it. Reason 2: Per-mile tolling is a sustainable long-term funding...

MINNEAPOLIS (WCCO) — Gas prices are finally falling, but those savings might not last long.At least 18 states, including Minnesota, are considering taxing drivers based on distance. Gas prices aren’t the only reason for the idea, since newer cars get better gas mileage. Oregon has a pilot project that will start next year to test the idea. They’re having 5,000 volunteers pay 1.5 cents per mile instead of the 30-cents-per-gallon tax.An electronic device attached to their vehicle will report how far they drive in state.

<p>Richmond, Va. (1140wrva.com) A local oil industry analyst says look for $1.75 gas soon. John Zehler says retailers are giving up more and more of their record profit margins, which he says are around 40 cents, as the competition heats up.</p>

ood news! The U.S. economy grew at a rollicking 5 percent rate in the third quarter. Oh, and it added 320,000 jobs in November, the best of its unprecedented 57 straight months of private-sector employment growth. Just in time for Christmas, the Dow just hit an all-time high and the uninsured rate is approaching an all-time low. Consumer confidence is soaring, inflation is low, gas prices are plunging, and the budget deficit is shrinking. You no longer hear much about the Ebola crisis that dominated the headlines in the fall, much less the border crisis that dominated the headlines over...

Texas has blessed the world with an incredible Christmas gift: plummeting oil prices. Both the production and the technology of fracking were substantially innovated and pioneered in the Lone Star state. The ramifications here at home and abroad are profound and incredible example of how innovation, property rights,and economic freedom trump the ugly agendas of statism. The gift of Texas oil is a gift that keeps on giving and stands in contrast to the lumps of coal dished out by the Federal government:...Gift 1:A true economic stimulus. The drop in oil prices from over $100 a barrel to less than...

Rania El Gamal, ReutersDecember 23, 2014Arab OPEC producers expect global oil prices to rebound to between $70 and $80 a barrel by the end of next year as a global economic recovery revives demand, OPEC delegates said this week in the first indication of where the group expects oil markets to ‎stabilize in the medium term. The delegates, some of which are from core Gulf OPEC producing countries, said they may not see - and some may not even welcome now - a return to $100 any time soon. Once deemed a “fair” price by many major producers, $100 a...

<p>Remember when we told you earlier this month that a gas station in Oklahoma City had lowered its price for regular unleaded to $1.99 a gallon?</p> <p>Well, now that trend is nationwide: GasBuddy.com, which monitors prices across the country, says the $1.99 sign is up over pumps in 24 states. The national average is at $2.43 a gallon, but at one filling station in Springfield, Mo., it was only $1.93.</p>

Myles Udland December 18, 2014Crude oil is starting to roll over. In late morning trade, West Texas Intermediate crude oil futures were giving up earlier gains and were down more than 1% on the day. WTI futures were down near $56 a barrel on Thursday, after briefly touching $59 a barrel earlier. On Wednesday, crude oil had a wild ride, spiking ahead of the Federal Reserve's announcement before giving up those gains. (snip)

Sam Ro December 17, 2014Oil prices are surging. The price of West Texas Intermediate crude oil on Tuesday rose to $58.98 from $54.20. Brent crude rose to $63.50 from about $58.70. At this point, there seems to be no obvious explanation for the move. On Tuesday, oil prices tumbled to five-year lows. WTI touched $53.60 and Brent sank to $59.86, both were the lowest levels since May 2009. (snip)

Just two weeks ago a sole gas station in Oklahoma swept headlines for dropping gas prices below $2 a gallon. Today, 13 states have joined that list and the trend is expanding. Gas for less than $1.90 a gallon can be found in at least one station in Oklahoma, Louisiana and Ohio, according to CNN. CNN cites ten additional states– Alabama, Arizona, Colorado, Indiana, Mississippi, Missouri, Nebraska, New Mexico, Texas and Virginia– that now have gas below $2 a gallon. “What we’re seeing is markets at work,” Heritage Foundation economist Nick Loris said. “Significant increases in supply and a relatively...

Richmond, Va. (1140wrva.com) Look for gas prices in the area to fall below $2 in the near future. Local gas industry analyst John Zehler, President of wholesaler Virginia Fuels, is predicting under $2 pump prices as the free fall in crude prices continues. Zehler says the price plunge has been going on for 6 months and it's going to be hard to turn it around until demand catches up with production. He says some folks think, with the current trend, we could see gas fall to $1.60 by the summer but admits it wild speculation.

Late on Thanksgiving eve, with no one paying attention, the Obama administration released its regulatory road map of thousands of regulations for 2015. Within the bundle of more than 3,000 regulations lies a rule on ozone that President Obama himself in 2011 “put on ice” in effort to reduce “regulatory burdens and regulatory uncertainty, particularly as our economy continues to recover.” Regarding the 2011 decision that shocked environmental groups, the New York Times recently stated: “At the time, Mr. Obama said the regulation would impose too severe a burden on industry and local governments at a time of economic distress.”...