Oil = Fuel = $$$$$$$$$$

Post by **The Mic** » Tue Mar 30, 2004 4:59 am

Well ive been thinking about the damn gas prices since its over $2.00 here in california. I get to thinking, " Why is Oil moderated by corperations and not teh government?" " Isnt it a natural resource?" Gas for my stove isnt a necesity (i dont think its a natural resource either) but its moderated by the government just like our electricity and water. I just dont understand why the government is not involved in the moderation of the oil that is made to fuel our cars. How can teh government allow such abuse of this resource to go on? how can the government allow such a disgusting and obvious cartel to go on in our country? idk im just ranting bc of the damn gas prices!

Post by **[Zero-S]** » Tue Mar 30, 2004 4:59 am

Natural gas is a natural resource...And they won't start moderating it because prices are set by that monopoly that is OPEC. That is unless of course we start pumping from that giant parking lot we just made...err Iraq.

(Why use our own oil when we can buy someone elses?)

Post by **Cold_Zero** » Tue Mar 30, 2004 4:59 am

I think that this issue is a little more complex than just Federal Regulations of Oil/Gasoline. The oversight on Petroleum is basically done at OPEC but the Federal Government has a vested interest in keeping gasoline prices from skyrocketing. It is not uncommon for the Whitehouse to work with OPEC member countries to increase output of petroleum to lower gasoline prices during the summer. Most refineries switch from winter to summer production during the summer creating a spike in gas prices. Typically gas prices will level off and decline as the summer goes on. I am sure that if the price goes about $3 that the President will pull some strings at OPEC and magically, Iran/Saudi Arabia/Kuwait will start to export millions barrels of more a day in crude oil. Apparently the US has made another enemy on the board of OPEC by an attempted “Coupe De Tat” on the President of Venezuela. Venezuela produces a lot of oil and is a member of OPEC. I am sure that this guy isn’t going to help matters.

The prospect of paying over $2 a gallon for Premium Gasoline (93 octane) isn’t a fun thought for me. My car only takes premium gas and I am hoping that prices will decline.

Bud

Post by **DAEDALUS** » Tue Mar 30, 2004 4:59 am

S13GUY wrote:How can teh government allow such abuse of this resource to go on? how can the government allow such a disgusting and obvious cartel to go on in our country?

LOL Abuse of gasoline? The government allows it because they tax the hell out of it. They get easy income and let private industry do all the work and make all the investments. In fact, be happy the petrol industry isn't government run!In CA, the combined state, local, federal and sales taxes on every gallon of gas comes out to $ .45/gallon...almost 25% of $2 gasoline. Luckily taxes don't go up with the price (except sales tax), but I am certain that it will be easier to pass higher gas taxes when people are already paying more per gallon.

Post by **Cold_Zero** » Tue Mar 30, 2004 4:59 am

It is about $ .50 a gallon here in Indiana. Imagine that, gas in Indiana would be $1.47/gallon for premium, $1.37/gallon for mid-grade and $1.27/gallon for regular with out the gas tax. Our Governer has the ability to repeal the gas tax in Indiana and this was done last year if I remember correctly. Everyone gets taxed on different things and the state/local/federal governments will always get their money.

Post by **[Zero-S]** » Tue Mar 30, 2004 4:59 am

Cold_Zero wrote:The prospect of paying over $2 a gallon for Premium Gasoline (93 octane) isn’t a fun thought for me. My car only takes premium gas and I am hoping that prices will decline.

Bud

I know what you mean man...I'm loving that light that screams at me PREMIUM UNLEADED FUEL ONLY.

Post by **[Zero-S]** » Tue Mar 30, 2004 4:59 am

Cold_Zero wrote:It is about $ .50 a gallon here in Indiana. Imagine that, gas in Indiana would be $1.47/gallon for premium, $1.37/gallon for mid-grade and $1.27/gallon for regular with out the gas tax. Our Governer has the ability to repeal the gas tax in Indiana and this was done last year if I remember correctly. Everyone gets taxed on different things and the state/local/federal governments will always get their money.

So let me get this straight...your governor can eliminate the gas tax altogether?I'd rather be taxed on other things than be taxed on gas.

Post by **Cold_Zero** » Tue Mar 30, 2004 4:59 am

In Indiana, we have high taxes on Gas, Alcohol and Tobacco. The lottery has brought down the price of our License Plates, still pay income and property taxes and our Sales Tax is 6%.

Post by **VimyJ** » Tue Mar 30, 2004 4:59 am

Much of the revenue generated by gas taxes goes into building and maintaining roads. With the reduction in Federal tax transfers, I doubt that states and local goverments will ever cut gas tax rates. The kicker is that many of the levies are percentage based so when the price of gas goes up so does the amount of taxes collected.

Post by **Bunta240** » Tue Mar 30, 2004 4:59 am

Gas in America is still alot cheaper then everywhere else though. Of course excluding places like kuwait where gas is like water.

Post by **VimyJ** » Tue Mar 30, 2004 4:59 am

Cheap is a relative term. We have a life style that has been determined in part by the cost of fuel. For example, we have many far flung suburbs because fuel is cheap by world standards but the overall fuel cost ends up being aproximately the same for the inhabitants because we use more fuel to get where we're going. The cheap fuel also makes larger displacement engines more popular but then we end up buying more gas to power them.

We are more vulnerable to oil price increases because of our reliance on large amounts of fuel relative to other industrialized countries. And, with India and China industrializing, there will be increasing demand on diminishing stocks of cheap crude.

Russia has large reserves but observers are saying that the Russia industrial base is recovering and they will consume most of the oil produced there.

Bush tried to orchestrate a coupe d'etat in Venezuela so let's not count on their sympathetic view when OPEC decides new output levels tomorrow. Nigeria is a frigging mess.

It does look as if oil prices are only going to continue to rise for the foreseeable future.

Post by **spitz7985** » Tue Mar 30, 2004 4:59 am

Cold_Zero wrote:I am sure that if the price goes about $3 that the President will pull some strings at OPEC and magically, Iran/Saudi Arabia/Kuwait will start to export millions barrels of more a day in crude oil.

dude, this is our president. i doubt he will even notice gas prices.

Post by **DAEDALUS** » Tue Mar 30, 2004 4:59 am

ROFL! C'mon man, you know better. It's a secret CIA communication device from the Clinton era. They just had to change the crystal so it stopped giving live feed from the intern's locker room and now it just picks up the Cartoon Network.

OK, I'm just having fun. Let's not allow this thread become a political one and then deleted. Keep it on subject.

Post by **szh** » Tue Mar 30, 2004 4:59 am

Is that a legit image? Or edited?

Reminds me of the old Dan Quayle bazooka picture ... if he had fired it, it would have blown off his own arm at the elbow since he was holding it backwards!

Z

Website · Post by **TurboKA37** » Tue Mar 30, 2004 4:59 am

i dont mind higher gas prices. just means that car manufacturers are going to try making more fuel efficient vehicles and less people on the road. just cut back on a few meals a week and it will equal out

Post by **VimyJ** » Tue Mar 30, 2004 4:59 am

It's amazing the stuff that turns up when you go looking for things. On the other gas thread, I mentioned that I was looking at buying some stock in an oil sands co. called Suncor. Well I bought 100 shares and started to do even more DD (due diligence). I often do things backwards but the investment still looks good. (knockwood)

Anyway, I came across some fascinating links about the world oil scene. There was a news story out a couple of weeks ago about the bush admin. being concerned about al Qaeda moving into west Africa. "So what?" I thought at the time. Let them have Liberia and those forever troubled regions. Who gives a crap?

Well, where there is smoke there is fire. W. Africa is loaded with oil. Top US European command generals (Africa falls under the European command area) have been there and special forces troops are operating in that area right now. The bush admin. is paying very close attention to developments in the region because large US oil co.s have been working with (AKA bribing) some of these piss poor nations (i.e. Haliburton in a mess over bribing Nigerian officials). AQ is also looking to influence events and several Muslim insurgenecies and civil wars are underway.

Never let it be said that the bushies never saw an oil patch they didn't have a hankering for.

I'll try to find the link to the story I read.

Post by **VimyJ** » Tue Mar 30, 2004 4:59 am

Here is the link. The Asia Times is a well regarded source.

http://atimes.com/atimes/Front_Page/FC30Aa02.html

Oil = Fuel = $$$$$$$$$$

Oil = Fuel = $$$$$$$$$$

Re: Oil = Fuel = $$$$$$$$$$

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