Posted on 05/31/2007 3:41:52 AM PDT by IrishMike
What to do about — choose the adjective — "spiraling," "skyrocketing," "out-of-control" gas prices? .................... A national morning show interviewer practically high-fived the governor of Florida for urging an investigation into "gouging." Meanwhile, over at one of the cable news networks, the "newsman" beat his desk, his chest and anything he could find to express his concern, outrage and downright indignation.
The California speaker of the State Assembly said that while he lacked evidence that oil companies engage in cheating, he still felt they did. Why? His gut told him so. In fact, over the last 20 years, 30 federal investigations seeking evidence of price manipulation or collusion came up with, uh, well, a dry hole.
But the conspiracy theorists press on. Sen. Chuck Schumer, D-N.Y., asked the Government Accountability Office to conduct an investigation. A year ago, he asked the Federal Trade Commission to investigate. By then, the FTC had already conducted two investigations, uncovering no evidence of unfair business practices. But, who knows? Maybe the oil company CEOs pulled a Sandy Berger, and stuffed damning evidence in their pants. So, by all means, let's look harder.
The mainscream media reports on the "outrageous," "unacceptable," "unjustifiable" "record profits." Never mind that following price peaks in 1981, low crude and gas prices during the '80s and '90s bankrupted some oil companies. But that was then. Today, Exxon Mobil, Chevron and ConocoPhillips earn tens of billions of dollars annually in profits that "defy common sense."
Why bother reporting that, with Big Oil profits at eight to 10 cents on the dollar, other companies and industry sectors earn more — including, for example, Internet giant Google and the banking industry. In California, the state "earns" about 40 cents per gallon, with the feds' cut coming in at almost 19 cents.
(Excerpt) Read more at creators.com ...
If our electrical production capacity was as limited in elasticity as our fuel refining grid, we would have a daily brown-out like Baghdad. Instead, the spot market and futures market compensates for capacity shortfalls and, viola -- fluctuating prices.
In the last ninety days, oil prices per barrel are level or down and gasoline prices are spiked. The law of supply and demand would naturally add refining capacity if the time, extraneous cost and location issues were even reasonably addressable by the market, but they aren't.
He said as much in his article.
Didn’t you bother reading it?
I think their should be an investigation into COW gouging the price on a gallon of milk is higher than gas.
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One day a few weeks back, milk jumped 50 cents a gallon.
More obscene earnings profits for our elected officials.
Can you imagine if gasoline jumped 50 cents a gallon in one day ? Boston tea party II
Excellent.
Check the link at post #58
” I understand it is unlawful to break down the various costs and taxes associated with gasoline, at least at the pump, in at least some states?”
Do you make this stuff as you go along or is someone over at DU emailing this garbage to you. ROFLMAO
I can’t count the number of times I and “thackney” have posted the gasoline costs & taxes in EVERY STATE on FR.
go over to gasbuddy.com and eia.doe.gov and you’ll see the taxes for every state clearly documented.
here’s a link to a nice picture chart that breaks down the costs of each gallon of gasoline for you so you won’t even have to read! LMAO
http://www.eia.doe.gov/bookshelf/brochures/gasolinepricesprimer/eia1_2005primerM.html
gezzzzzzzzz...
I live 28 miles from my place of employment.
I NEED to buy gas!
This is the same State that won’t allow drilling off its coast b/c the tourists might have to look at the oil rigs, right?
API collects motor fuel tax information for all 50 states and compiles a report and chart detailing changes from the previous update and calculating a nationwide average. These documents show the average amount of excise and other taxes imposed by each state on gasoline and diesel fuel. API’s chart reflects a weighted average for each state, meaning that any taxes which can vary across a state’s jurisdiction are averaged according to the population of the local areas subject to each particular tax rate. Where appropriate, the weighted average also takes into consideration the typical percentages of premium, midgrade, and regular fuel purchased in each state. In states where taxes vary depending upon the price of the motor fuel (for example, where the tax rate is set as a percentage of the sales price rather than a cents per gallon method), the state average listed on the chart is a snapshot based upon the price of fuel (as reported by AAA) on the date the chart is updated.
As of March 2007, the average amount of tax imposed on a gallon of gasoline sold in the United States was 45.8 cents per gallon, up 0.3 cents from the October 2006 report. For diesel fuel, the national average amount of tax was 52.7 cents per gallon, up 0.2 cents from the October 2006 report.
I did. Thx!
Of course, I have to wait until he returns from his six-week vacation in his 32-foot motorhome that gets seven miles to the gallon ;-)
Of course, I have to wait until he returns from his six-week vacation in his 32-foot motorhome that gets seven miles to the gallon ;-)
Duh on me - Sorry for the double post!
I like this chart Historical Prices at the Pump in todays dollars
So making profits on things that we need is wrong but it's okay to make profits on things we don't need? If that is the rule then pretty soon we will only have things we don't need.
Loss of volatility. The stuff that makes it go bom. VOC’s make it good, it’s when they volatilize prematurely that can cause trouble. There is also condensation problems that can occur with storage, so it’s best to either store a tank full so it can’t get condensation, or empty and drain the tank before adding any fuel.
Since you read one question, then answered another (along with insults), I'll rephrase: Is there a restriction on documenting the price break down at the pump...right where folks are paying?
I've never heard of any such restriction...then again, I've never seen the price breakout listed on the pump. If I were selling gas and getting blamed for gouging, I'd post the info.
Yes, because you have chosen to live that far from where you work. If you had chosen a different lifestyle, like being Amish, you wouldn’t need gas. I see your point, I hope you see mine. Many people have created a need. It’s the American way.
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