Posted on 04/22/2014 12:36:23 PM PDT by Theoria
Drivers in the U.S. are facing rising gasoline prices ahead of summer-vacation season, just as refiners here are shipping more gas to other countries.
A new pipeline, built to release a glut of crude oil that was stuck in the middle of the country, is now feeding oil to refineries on the Gulf Coast that churn out gasoline and diesel. While these fuels still make their way to the Southeast and the East Coast, growing amounts are being sold to Mexico, the Netherlands, Brazil and other countries.
The push into these markets has been spurred by the U.S. oil boom. Rising oil output had been flooding the nation's oil market in recent years, keeping U.S. crude prices low relative to world prices. Facing tepid fuel demand in the U.S., refiners have been ramping up exports, creating more global competition for U.S.-produced fuel.
While the construction of pipelines and other transportation infrastructure allows other countries to benefit from the oil boom, it also means the market for motor fuels has become more competitive. The gasoline market now has to reckon with demand from other countries—and the potential impact on prices—during a U.S. economic recovery many economists see as fragile.
"Quite frankly, this is not just a U.S.-centric topic anymore," said Nancy White, a spokeswoman for motor club AAA. "Production is going overseas, so that impacts the supply here, and that will drive prices up."
Gasoline stockpiles nationwide are at their lowest point for this time of year since 2011, according to the U.S. Energy Information Administration. Meantime, the retail price for a gallon of regular gasoline averaged $3.68 on Monday, up 4.2% from a year ago, according to the EIA. That is the highest price since March 2013. AAA had the average price on Monday at $3.67.
(Excerpt) Read more at online.wsj.com ...
If they do business with enemies, then they should be fined by the Feds.
I bet you found out big biz sells to the highest bidders for profit regardless of friend or foe, regardless of consequences.
Fined?
If you're personally caught selling arms and or aiding and abetting our enemies with products/supplies, aircraft, oil, technology etc., would you expect more than a fine?
An across the board import tariff of 5% would be a good start. Offsetting income taxes would show America how it works. It isn’t hard at all. Can your progressive income tax addicted brain handle that?
Only a communist can answer those questions without hesitation.
Uh? WTH makes you think I support progressive taxation?
Only a communist thinks the questions are legitimate. But if you like the government controlling how people buy and sell, i.e. communism, then you will have to answer those questions.
Would you be in favor of eliminating ALL income taxes and go back to tariffs and fees to fund FedGov™? If not then you are a progressive.
I do not understand how someone who subscribes to “Free Republic” could expect a person who owns oil or gas to sell it to them at a government enforced bargain price. I need gas, you have gas, so give it to me cheap or I will have our government make you sell it to me cheap.
Nothing like mixing your terms. A “Progressive” is not the same thing as a progressive income tax.
I do not believe the government should make winners and losers. All taxes should be applied equally. So if you want a sales tax on imports (i.e. tariffs) then have a sales tax on all purchases. Make it low with no exemptions or exceptions so that applies to all purchases made by everyone.
They are corporations and are protected by the Constitution and are due a fair trial, but we cannot throw a corporation in prison, but they can be fined.
You did not answer the question. I asked what YOU wanted, is that so hard to understand? So I ask again: Would you be in favor of eliminating ALL income taxes and go back to tariffs and fees to fund FedGov™?
Agreed.
Where I'm going is at a time of economic instability, we should attempt to bring down the price here in the U.S. to help give families more disposable income in which to drive economic growth. Instead of always thinking about the coins in their pockets, perhaps thinking about the health of their country would be a patriotic gesture.
Exporting quantities of oil to the point it drives up our own cost is in my opinion a national security issue.
Besides, before that clown got into the oval office, we were paying $1.80 to $2.20 a gallon. A mere 5 years later almost three times that amount.
I do not believe the government should make winners and losers. All taxes should be applied equally. So if you want a sales tax on imports (i.e. tariffs) then have a sales tax on all purchases. Make it low with no exemptions or exceptions so that applies to all purchases made by everyone.
And if you do the above it should be the only form of taxation.
Besides, places like Saudi Arabia and Venezula pay much less than a dollar (U.S.) a gallon for gasoline. Why so high in a country that has more oil than Saudi?
Well, that makes it real convenient for those running big biz doesn't it? Bet they have lots of lawyers too huh?
Can't throw the CEO and senior management into prison for knowingly aiding and abetting Americans enemies now can we Olivia?
What would their stock holders and shareholder say? What about those profits??
Correcto!
Why does this thread sound like we’re on DU with lots of “Capitalist haters”?
Nope, it’s not a price control to have restrictions on export that assure a supply of domestic oil.
Most people give little thought to how prices are arrived at. Thankfully, most freepers, when confronted with a few thought provoking questions, are able to reason their way to a conclusion.
One of my favorites is the accusation of "price gouging" when there is a crisis like a hurricane. People think that goods like gasoline should be rationed rather than allowing the free market to work. When you ask if they would rather have all the gasoline they want for $10 a gallon or none at $5 a gallon they seem to figure it out.
As for the "greedy" oil companies. Maybe they should invest in oil companies. Ride the greed train.
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