But it is deceptive to claim the US imports 13% of our gasoline when this is a short term correction to stocks.
Posted on 06/01/2007 8:05:41 AM PDT by george76
Few politicians can resist the urge to exploit consumer angst over gasoline prices, and thereby deflect where the blame certainly lies — with them.
Here are 10 things the politicians won’t tell you:
1. At over $3.00 a gallon, the U.S. inflation-adjusted price for gasoline in May 2007 is now less than it was in 1981, a remarkable decrease in price over a 25 year period during which real prices in other sectors, such as health and education have tripled and quadrupled.
2. This decline in the price of gasoline since 1981 is enjoyed almost exclusively in the U.S. In most other developed counties in the world, the price of gas is at least double what Americans pay. Consumers in the Netherlands now pay an average of $7.77 gallon, while those in Great Britain pay over $7 and consider it a bargain.
3. The gross profit margins of the major oil companies is far less than that for many other sectors, such as beverages, electrical equipment, chemicals, and computers.
4. At present gas prices, the major oil companies make a profit of between 10 cents and 12 cents a gallon...
5. At present prices, combined federal and state government profit (i.e. taxes) on each gallon of gas is 28-68 cents a gallon, depending on which state you live in. Pelosi’s San Francisco enjoys tacking on an extra 26 cents bite.
9. Crude oil prices, which make up 90% of the total cost of running gas refineries, are set by the international market of supply and demand, which fluctuates hourly, and not by private companies; while the major oil producing countries can form cartels (such as OPEC) which can set prices at higher than a free market, these countries are not subject to U.S. antitrust laws.
(Excerpt) Read more at blogs.rockymountainnews.com ...
Source for this claim?
I know. I was trying to explain to the other poster that speculators don't raise the long term price of oil because they don't take supplies off the market, because they don't store it. He still doesn't understand.
“Consumers in the Netherlands now pay an average of $7.77 gallon, while those in Great Britain pay over $7”
I’m tired of this crap! The high prices in Europe are government fees for heathcare etc. Not because of anything else.
I'll help. $.33 1967 gas would be $1.98 now. Current gas averave is $3.16. Conclusion : it's expensive.
Source for this conversion? Using the price of a loaf of bread, a gallon of milk or a oz of gold or any other commodity to figure the the price differential indicates you are grotesquely underestimating the inflation rate from 1967 to 2007. So just HOW did you come up with the price?
Never mind. From past experience I all ready know, like the rest of you posts, you simply stated what you WANT to believe as a "Fact". Sorry but your feelings are not facts.
Gee your price when DOWN about $.90 a gallon in 3 weeks last year. Funny how the screamer only remember it going UP, never ever remember when it goes DOWN.
thanks...I was talking about inflation adjusting my salary from 1967...but I like your math...
Nothing worse than over supply. If you are a producer, it makes sense to sell less and profit more. Importing finished gas allows companies to have product to sell during periods of high demand without investing in refineries.
This may be a good time to insert a quote from responses to the original article; I assume there are no rules against quoting from a response to the original (?).
I totally agree with this guy:
"...And if we throw in the fact that 85% of the outer continental shelf is out of bounds, ANWR is out of bounds and that we haven't built a nuke power plant or crude oil refinery in almost 30 years, its amazing that we aren't yet paying $10 p/g.
Add in the government's oversized take at the pump, and its quite obvious where the gouger resides.... Washington, D.C."
(Hank)
Government could not only reduce future price growth but - simply by announcing that drilling would be resumed/expanded into these no-go zones, and announcing that new refineries and new nukes would be approved - the price of foreign oil would fall measurably.
Of course I'd be thrilled if they'd tax imported electronics a bit more and high-test* a bit less.
(*) Remember Ethyl? Boy do I miss Ethyl.
(norton)
According to this site, Inflation Calculator, $.33 in 1966 would be $2.04 in 2006. 2007 isn't available yet.
http://tonto.eia.doe.gov/dnav/pet/pet_pnp_wiup_dcu_nus_w.htm
Read the charts for this year. 13% was the number quoted on CNN’s show by a represenative of the Refining industry.
probably both...depending on who you talk to...
the 90’s were a different story....
I’m just glad to be working after having been off almost 2 years since being “outsourced”
course we’re all underpaid....
Then you are saying that a person who puts gasoline in their tank is fortunate that there are speculators in the supply chain of that gasoline because that person will be more likely to find a willing buyer should they decide to sell the gasoline rather than burn it in their engine.
But it is deceptive to claim the US imports 13% of our gasoline when this is a short term correction to stocks.
And according to your “Inflation calculator” an OZ of gold should cost $210.00 today. It closed at $673.00. So your inflation calculator is about 2000% off.
No.
If gold went up at the same rate as CPI, it would be.
So your inflation calculator is about 2000% off.
2000% off? You should recheck your math.
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