Posted on 06/04/2009 1:32:16 PM PDT by InvisibleChurch
Rising gasoline prices are back. Millions of Americans at the end of May faced prices for regular gas averaging $2.35 per gallon, a full 30 cents higher than the beginning of the month and nearly 60 cents more than at the start of the year. But don't expect any help from Congress. In fact, Washington is working on a bill that would raise costs further, says Ben Lieberman is a senior policy analyst at the Heritage Foundation.
The proposed American Clean Energy and Security Act of 2009 (the Waxman-Markey proposal) essentially would limit how much gasoline and other fossil fuels Americans can use. The aim is to cut emissions of carbon dioxide from energy use; yet, prices would have to rise high enough so the public would be forced to drive less and meet the ever-tightening energy rationing targets.
How high? A Heritage Foundation analysis estimates that gasoline costs will rise $118 annually for a typical four-person household once the bill's provisions take effect in 2012:
That's about 10 cents more per gallon, and the impact goes up as the bill demands tougher energy use restrictions each year, tacking on an additional $1.23 to the inflation-adjusted price per gallon by 2035. Electricity is also hit hard; in fact, the main target of the bill is coal, which affordably provides 50 percent of America's electricity. The costs would filter down to consumers and boost electric bills by $235 in 2012, rising to $468 by 2035; that's a 90 percent increase over current rates. The bill also would cost jobs, especially in the manufacturing sector. Overall, this is a regressive tax that would harm the working poor the most. At the same time, it would leave a million or more people without a paycheck to deal with the higher costs, says Lieberman.
Source: Ben Lieberman, "A shock at the pump?" Heritage Foundation, June 1, 2009.
For text:
http://www.heritage.org/Press/Commentary/ed060109a.cfm
For more on National Energy Policy:
http://environment.ncpa.org/issues/?c=national-energy-policy
For more on Energy Issues:
http://www.ncpa.org/sub/dpd/index.php?Article_Category=22
That want us to live like the caveman did, in caves, and use sticks to cook our food.
“(They) want us to live like the caveman did, in caves, and use sticks to cook our food.”
And Barry is out arranging that for us right now....
Every day the clock gets closer to midnight for this system.
Vince
These Stupid SOB’s only consider the urban factor. I don’t think they have a clue what they are gong to do to our agricultural industry.Their dumb-ass policies are going to make food awful expensive. Get ready for food wars.
JPMorgan hires crude tanker to store gasoil
June 3 - JPMorgan Chase & Co (JPM) has hired a crude tanker vessel to store gas oil off Malta's coast, shipping sources said on Wednesday. The U.S. investment bank declined to comment. Storing any light, refined oil products in a crude oil tanker is unusual.
But one shipping source said the vessel, Front Queen, was a new very large crude carrier (VLCC) which had never had a cargo on board meaning that its tanks were clean and able to carry refined products.
The tanker was able to carry up to 2 million barrels of oil, the source said.
Separately, a shipping source said another new VLCC had been fixed to store gas oil off Malta's coast by a trading house.
VLCC freight rates have been depressed in recent months due to weak demand for crude, while clean tanker rates have enjoyed some gains partly due to arbitrage opportunities to ship products from Europe to the United States.
Some oil traders said that might have encouraged the companies to store gas oil in crude tankers. The firms are seeking to take advantage of higher prices later in the year.
Front Queen can hold about 273,000 tons of heating oil, more than three times the amount held by a more conventional Long Range 2 tanker, according to Riverlake Shipping SA, Switzerlands largest shipbroker.
JPMorgan hired the ship at $35,000 to $41,000 a day, according to the broker reports. The bank is also paying $1.6 million for the ship to sail from Singapore to Europe without a cargo, the brokers said. Long Range 2 tankers cost about $25,000 a day for storage, according to Riverlake Shipping.
Based on a full cargo, the monthly cost for the Front Queen works out at $3.85 to $4.50 a ton, excluding what JPMorgan paid to get the ship from Asia to Europe.
This will never happen.
They won’t let the rich drive, they will have rationing instead where everyone is equal, and they will spread the gasoline around as they see fit.
“...Obama said Iran has the right to nuclear power,...”
But Americans DON’T have ANY rights to NUCLEAR power, do we? :(
Count on it!
My wife and I drove from Charlotte, NC to Chehalis, Washington and back in October of 2007 when the gas prices were at about $3.00 per gallon. We took the Northern route using I 90 from Souix Falls out and came back down I 84.
In all we logged 6000 miles in twelve driving days and crossed 20 states, 14 one time. We could not believe the beauty of what we had only read about or seen in many Western movies, and speculated at the time that the government would like to prevent its citizens from seeing the splendor of this great land by refusing to pump our own oil. Out of the hundreds of relatively new wells that we saw, only about ten percent were actually stroking and this was when oil was at $90.00 per barrel.
Maybe when those who voted for “change” are standing in long lines to get their weekly ration of $5.00 per gallon gasoline so they can drive to the “free clinic” to wait in long lines for mediocre health care or to the unemployment office they will regret their vote in 2008.
This will do nothing to cut carbon dioxide. Any gasoline that we choose not to burn will gladly be burned by a Chinese or Indian motorist. It is only a question of whose economy and lifestyle that gasoline will support.
OMG! They're trying to make money to pay back the taxpayers? Bastards! I hope they lose money, so we never get repaid / economic idiocy off.
The last ruler who attempted that was Pol Pot with the Khmer Rouge... Maybe we should check and see how that worked out...
Mark
$118, hell I’d be happy if it’s $1,180 per year more...as long as I don’t have to drive around with a transponder so that Mr. Obama knows where I am.
...and there are a lot Republicans pushing for this type of tracking system.
***Most Americans will blame Bush, Cheney, Halliburton, etc.***
I don’t know about that, Jeff. Carter, with his turn the thermostat down, etc. was defeated after one term.
From Wikipedia:
“By 1980, Carter’s disapproval ratings were significantly higher than his approval, and he was challenged by Ted Kennedy for the Democratic Party nomination in the 1980 election. Carter defeated Kennedy for the nomination, but lost the election to Republican Ronald Reagan.”
I’d like to think you’re right, but an entire generation has been programmed in the government schools, and tens of millions of envious, coveting third worlders have become voters since then.
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