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Crude futures prices tap $75 for first time ever in NY
CBS Marketwatch ^
| 4/21/2006
Posted on 04/21/2006 10:46:54 AM PDT by Rutles4Ever
![](http://www.nymex.com/homechart.aspx?image=CL)
SAN FRANCISCO (MarketWatch) -- Crude-oil futures climbed to a high of $75 per barrel Friday for the first time ever for a front-month contract on concerns about tensions surrounding Iran's nuclear activities, violence in Nigeria, and tight U.S. supplies of unleaded gasoline. June crude was last up $1.26, or 1.7%, at $74.95 per barrel. "We often see this sort of short covering in a record-setting bull market ahead of a weekend, since nobody is sure where we may be Monday," said trader Kevin Kerr, who is also editor of MarketWatch's Global Resources Trader.
TOPICS: Breaking News; Business/Economy; Culture/Society; News/Current Events
KEYWORDS: crude; economicilliteracy; oil; rape
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To: raybbr
101
posted on
04/21/2006 11:53:35 AM PDT
by
gogeo
(The /sarc tag is a form of training wheels for those unable to discern intellectual subtlety.)
To: AdamSelene235
The law of diminishing returns.
102
posted on
04/21/2006 11:54:23 AM PDT
by
Rte66
To: LambSlave
Your system works great if you're in the investor class.
Woe betide the poor schmuck, however, who just earns enough to pay his own bills. Now he's gotta figure out how to afford to get to work - all because of some damned speculators.
103
posted on
04/21/2006 11:55:35 AM PDT
by
jude24
("The Church is a harlot, but she is my mother." - St. Augustine)
To: Fishrrman
We'll have $4 a gallon by fall, perhaps $5. And a Democratic Congress, to boot! Swiftly followed by impeachment and war crime trials.
104
posted on
04/21/2006 11:55:56 AM PDT
by
redgolum
("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
To: Lunatic Fringe
Lifting the gasoline taxes means nothing. Actually, it would mean that road construction would come to a stand still.
105
posted on
04/21/2006 11:56:25 AM PDT
by
gogeo
(The /sarc tag is a form of training wheels for those unable to discern intellectual subtlety.)
To: All; NormsRevenge; Ernest_at_the_Beach; tubebender
Taxes paid by Californians when we buy gasoline:
http://www.lao.ca.gov/2000/051100_cal_travels/051100_cal_travels_finance.html
State and federal transportation revenues are collected primarily through the state and federal excise (per gallon) taxes on gasoline and diesel fuel.
Californians pay the following taxes at the pump:
18 cents in state tax for each gallon of gasoline and diesel fuel (generally referred to as the "gas" tax).
18.4 cents in federal tax for each gallon of gasoline.
24.4 cents in federal tax for each gallon of diesel fuel.
7.25 percent uniform state and local sales tax, plus optional local sales taxes for transportation or other purposes varying by county. The majority of the uniform state and local sales tax proceeds are not used for transportation purposes.
Counties and cities can add taxes to the base tax rate.
Gasoline buyers in San Francisco pay about 8.5% sales tax on gasoline.
As noted above the California Sales is based on the $ cost. The dirty secret is the sales tax is calculated after all the state and federal taxes are added to the per gallon cost.
106
posted on
04/21/2006 11:56:46 AM PDT
by
Grampa Dave
(There's a dwindling market for Marxist homosexual lunatic wet dreams posing as journalism)
To: Jeff Chandler
"
Do we have those materials in the ground ? We have plenty of oil in the ground."
We import a very large percentage of those strategic metals, but like oil, we are prohibited from getting it by enviromental laws making it unprofitable.
Also, where do we get the refineries to crack it? Supposedly they take 10 years to construct.
Perhaps we should start hanging a few million enviromental wacko's and refine their oil?
![](http://teamimmortal.org/files/images/storyend_dingbat.gif)
107
posted on
04/21/2006 11:56:51 AM PDT
by
G.Mason
To: Jeff Chandler
My son-in-law's maternal grandparents own an oil company, so the higher the price of oil, the larger my grandchildren's inheritance. How wonderful for them. Rest assured, we hoi polloi shall eat cake in honor of your grandchildren.
To: chris1
They would have been able to do more, if there were enough of them to break filibustering.
109
posted on
04/21/2006 11:58:43 AM PDT
by
AxelPaulsenJr
(More people died in Ted Kennedy's car than hunting with Dick Cheney.)
To: xzins
"We are under attack.
It is an economic adversary.
Pres. Bush should take the lead as he did after 9/11. This symbolic gesture would have him on record as the one to take the helm.
The motto of this war should be something like: "Throw off the yoke of OIL."
Why fund the terrorists?"
I agree. Bush should try to take control of the situation rather than letting the situation control him and cost the GOP votes in November.
By the way, which terrorists are you referring to? The ones in the Middle East and Venezuela or the ExxonMobil leadership?
110
posted on
04/21/2006 11:59:28 AM PDT
by
BW2221
To: Rutles4Ever
TURN THOSE MACHINES BACK ON!!! Think big, think positive, never show any sign of weakness. Always go for the throat. Buy low, sell high. Fear? That's the other guy's problem. Nothing you have ever experienced will prepare you for the absolute carnage you are about to witness. Super Bowl, World Series - they don't know what pressure is. In this building, it's either kill or be killed. You make no friends in the pits and you take no prisoners. One minute you're up half a million in soybeans and the next, boom, your kids don't go to college and they've repossessed your Bentley. Are you with me?
To: epow
yes...and in most counties, a 100 mile drive is a summer vacation,as well as being blessed with a moderate climate....
To: Jeff Chandler
As long as the wells aren't in Venezuela.
113
posted on
04/21/2006 12:03:52 PM PDT
by
Rte66
To: G.Mason
If the US is cut off from Russia and South Africa and can't get some of these stregic metals, they are available through asteroid mining. The 1967 UN Outer Space Treaty is the only serious obstacle.
114
posted on
04/21/2006 12:04:11 PM PDT
by
RightWhale
(Off touch and out of base)
To: Jeff Chandler
Yep, and for every dollar your grandkids make, several thousand go to Chavez, the Saudis, and Iran. Enjoy!
115
posted on
04/21/2006 12:04:33 PM PDT
by
Charlotte Corday
(Freedom’s like ice-cream—can’t go wrong with it.)
To: Rutles4Ever
What IF....
Bush calls a press conference...announces he is declaring a State of Emergency and is authorizing immediate drilling and exploration in all areas...
To: Charlotte Corday
Yep, and for every dollar your grandkids make, several thousand go to Chavez, the Saudis, and Iran. Enjoy!Hey, I'm not the one blocking drilling in Alaska, California, Florida, and the Gulf.
117
posted on
04/21/2006 12:06:33 PM PDT
by
Jeff Chandler
(Ignore the drive-by media. Build the fence. Sí, Se Puede!)
To: xzins
"We are under attack.
It is an economic adversary.
Pres. Bush should take the lead as he did after 9/11. This symbolic gesture would have him on record as the one to take the helm.
The motto of this war should be something like: "Throw off the yoke of OIL."
Why fund the terrorists?"
I agree. Bush should try to take control of the situation rather than letting the situation control him and cost the GOP votes in November.
By the way, which terrorists are you referring to? The ones in the Middle East and Venezuela or the ExxonMobil leadership?
118
posted on
04/21/2006 12:06:56 PM PDT
by
BW2221
To: xzins
There should be more of a disconnect between oil prices and gas prices. There is actually on over-supply of oil right now, since the refineries are behind.
Oil should be lower, in proportion, to the price of gasoline right now.
119
posted on
04/21/2006 12:07:00 PM PDT
by
rightinthemiddle
(Islamic Terrorists, the Mainstream Media and the Democrat Party Have the Same Goals in Iraq.)
To: BW2221
"
... By the way, which terrorists are you referring to? The ones in the Middle East and Venezuela or the ExxonMobil leadership?"
Are you aware that "the ExxonMobil leadership" does not set the price of the oil they purchase?
![](http://teamimmortal.org/files/images/storyend_dingbat.gif)
120
posted on
04/21/2006 12:07:06 PM PDT
by
G.Mason
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