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Producers pay everything. Less producers or less producing producers ..higher costs to the productive.
Speculators Driving Up the Cost of Oil
- Thread starter Merkava_4
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Originally Posted By: Gary Allan
Quote:
They haven't 'learned their lesson' either, the government just decided to tax them into submission.
..and the ill effects of it are ..technologically advanced cars produced by mindless docile drones that march to the teutonic beat
Darn tootin'!
No, nothing wrong with technologically advanced cars, don't get me wrong. But my aim is to deflect what I see as a commonly-held sense of superiority - "Look how efficient we are! We are intelligent and enlightened and you are greasy rubes in your SUVs and Dodge Magnum estates." Nope, you'd drive behemoths too, if it were affordable.
Maybe submission wasn't the right word...how about 'taxed like crazy'?
Quote:
They haven't 'learned their lesson' either, the government just decided to tax them into submission.
..and the ill effects of it are ..technologically advanced cars produced by mindless docile drones that march to the teutonic beat
Darn tootin'!
No, nothing wrong with technologically advanced cars, don't get me wrong. But my aim is to deflect what I see as a commonly-held sense of superiority - "Look how efficient we are! We are intelligent and enlightened and you are greasy rubes in your SUVs and Dodge Magnum estates." Nope, you'd drive behemoths too, if it were affordable.
Maybe submission wasn't the right word...how about 'taxed like crazy'?
It's not speculators.
It's not Bush.
It's not Saudi Arabia.
It's not Gore.
It's inflation finally catching up to crude prices.
It's not Bush.
It's not Saudi Arabia.
It's not Gore.
It's inflation finally catching up to crude prices.
Originally Posted By: VeeDubb
Originally Posted By: Gary Allan
Hey, I told you all that you would experience shock and awe. Now you are. Take your medicine. (visions of C3PO as R2 was playing Chewy at a holographic game of some type)
"It was a fair move. Screaming about it won't help."
Gary, you sound happy about it
But seriously, I think something had to stop our rampant consumer culture so I think in the long run, all this is good for us as a society. The "shock and awe" experienced by most Americans is still peanuts compared to what the rest of the world suffers even in good times.
The people I really feel for are the people that are truly paying for all this. And when I say pay, I'm not talking about losing a McMansion, SUV and big screen TV. I'm talking about the working class Americans who could barely make ends meet even before the crises. And the people living in poverty around the world who now have to starve along with their children. I can give a rats a$$ whiny middle class people who complain that it costs them too much to drive their SUV now.
I'm a middle-income, single white male. My government loves my wallet, but all the whining, kicking, and screaming won't make a lick of difference on my taxes, because I don't have breast, I don't belong to any special interest, and my skin colour isn't purple.
Originally Posted By: Gary Allan
Hey, I told you all that you would experience shock and awe. Now you are. Take your medicine. (visions of C3PO as R2 was playing Chewy at a holographic game of some type)
"It was a fair move. Screaming about it won't help."
Gary, you sound happy about it
But seriously, I think something had to stop our rampant consumer culture so I think in the long run, all this is good for us as a society. The "shock and awe" experienced by most Americans is still peanuts compared to what the rest of the world suffers even in good times.
The people I really feel for are the people that are truly paying for all this. And when I say pay, I'm not talking about losing a McMansion, SUV and big screen TV. I'm talking about the working class Americans who could barely make ends meet even before the crises. And the people living in poverty around the world who now have to starve along with their children. I can give a rats a$$ whiny middle class people who complain that it costs them too much to drive their SUV now.
I'm a middle-income, single white male. My government loves my wallet, but all the whining, kicking, and screaming won't make a lick of difference on my taxes, because I don't have breast, I don't belong to any special interest, and my skin colour isn't purple.
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Quote:
and my skin colour isn't purple.
No, but if you hold your breath long enough, you may acquire a nice shade of blue.
and my skin colour isn't purple.
No, but if you hold your breath long enough, you may acquire a nice shade of blue.
I just read a USA Today article that said oil was $ 12.00 a barrel in 1998. I cant remember what gas cost then but it might have been $ 1.50-1.75 a gallon. Now oil is $ 135 a barrel which is like 11 times as much. How come gas isn't 11 times as much too? What is going on here? What am I not getting?
Originally Posted By: ZZman
I just read a USA Today article that said oil was $ 12.00 a barrel in 1998. I cant remember what gas cost then but it might have been $ 1.50-1.75 a gallon. Now oil is $ 135 a barrel which is like 11 times as much. How come gas isn't 11 times as much too? What is going on here? What am I not getting?
Regular gas was 89 to 99 cents a gallon then. And you are right - the margins were better then. Which means that you are getting a helll of a deal nowadays with $4 a gallon gas.
I just read a USA Today article that said oil was $ 12.00 a barrel in 1998. I cant remember what gas cost then but it might have been $ 1.50-1.75 a gallon. Now oil is $ 135 a barrel which is like 11 times as much. How come gas isn't 11 times as much too? What is going on here? What am I not getting?
Regular gas was 89 to 99 cents a gallon then. And you are right - the margins were better then. Which means that you are getting a helll of a deal nowadays with $4 a gallon gas.
Transportation, manufacturing costs and taxes haven't gone up nearly as much as the price of oil.
Gas would still cost something even if the oil were free at the well.
If you do a simple linear regression on the numbers you used and assume $4.50 gallon for regular now, it indicates that gas would be about $1.45 per gallon if the oil were free. That is a gross over simplification, but should give you some idea why gas price isn't a fixed fraction of oil price.
Edit: Use 90 cents/gallon for 1998 and the free oil price is about 45 cents/gallon
Gas would still cost something even if the oil were free at the well.
If you do a simple linear regression on the numbers you used and assume $4.50 gallon for regular now, it indicates that gas would be about $1.45 per gallon if the oil were free. That is a gross over simplification, but should give you some idea why gas price isn't a fixed fraction of oil price.
Edit: Use 90 cents/gallon for 1998 and the free oil price is about 45 cents/gallon
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Heck, with about $0.30 average per gallon tax at that time, we were actually burning subsidized fuel.
Quote:
The most likely area in which lawmakers could reach consensus is on a measure to increase regulation of energy markets by the Commodity Futures Trading Commission. Lawmakers say that hedge funds and other speculators have played a role in inflating oil prices. Democrats included the proposal in the failed windfall profits bill, but several Republicans said they would support it as a stand-alone bill.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/06/11/MNI6116RIU.DTL&tsp=1
The most likely area in which lawmakers could reach consensus is on a measure to increase regulation of energy markets by the Commodity Futures Trading Commission. Lawmakers say that hedge funds and other speculators have played a role in inflating oil prices. Democrats included the proposal in the failed windfall profits bill, but several Republicans said they would support it as a stand-alone bill.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/06/11/MNI6116RIU.DTL&tsp=1
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