$118 a year is nothing compared to Cap N Trade
Prices for gas and electricity are going to be much higher than this article would lead you to believe. Or maybe not, as with the absence of any productive economic activity, there won’t be much demand.
Those idiots in Congress and the idiots in the oil industry are out to destroy western civilization.
Most Americans will blame Bush, Cheney, Halliburton, etc.
Kiss the tourist and boating industry goodbye.... and much, much more.
Bookmark
The article mentions $2.35 gas a week ago. It’s now $2.75 here (in Ohio). I noticed the 40-cent-per-gallon jump happened almost immediately after Obama said Iran has the right to nuclear power, i.e., weapons. Might have been Monday, can’t remember.
An energy policy that is based on limiting the amount of energy each is allowed is as bankrupt as this administration. Our energy policy should be the opposite. Do what is necessary to insure cheap, plentiful energy. Unfortunately, that would allow citizen too much freedom and our government can’t tolerate that.
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, Switzerland’s 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.
Count on it!
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.
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.