Protest Gas Prices
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Elmer Gantry
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Elmer Gantry
LPSG Legend
You may have forgotten to mention the USD500 trillion derivatives time bomb.
And the money pit that was once called Iraq.
Elmer Gantry
LPSG Legend
This is true, but not anytime soon. The US has no exit strategy, even under a Democratic President.
And this war is not fiscally sustainable. To put it into perspective, it costs 12 times more (in adjusted dollars) to keep a US soldier in the filed in Iraq than it did to keep a US soldier in any theatre of operations during WW2. And that war nearly broke the back of your economy as it was.
And this is going on while you're entering a recession?
Today, Senator Mc Cain proposed a gas tax holiday to remove the federal tax on gas between Memorial Day and Labor Day i.e. the end of May through the beginning of September.
The figure CNN reported on the Fed's gas tax is $.18 per gallon, and it is estimated that the Fed government would lose $10 billion in revenue over the summer months. How is the Fed government going to recover this loss??
I am surprised, though, that Mc Cain had enough courage to actually propose a temporary pause on the federal gas tax as an option. Although the measure is debatable in terms of impact, it is the fastest way to see some near-immediate cost reduction on gas prices.
The figure CNN reported on the Fed's gas tax is $.18 per gallon, and it is estimated that the Fed government would lose $10 billion in revenue over the summer months. How is the Fed government going to recover this loss??
I am surprised, though, that Mc Cain had enough courage to actually propose a temporary pause on the federal gas tax as an option. Although the measure is debatable in terms of impact, it is the fastest way to see some near-immediate cost reduction on gas prices.
HazelGod
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Given the overall unlikelihood of such a measure being passed through both houses of Congress AND signed by GWB at all, much less within the next six weeks, I don't consider it a particularly courageous move. Add in the fact that the sponsor is a presidential candidate in an election year, it starts looking even less like a fair-minded proposal to ease the economic burdens of the citizenry and more like exploitation of current conditions to pander to those affected.
Hmmm. Perhaps if we contacted the elected officials, we actually could effect some change for the better. The trick is, instead of demanding lower fuel prices, we should demand that they enforce existing federal law, and punish the price-gouging practices of the "big petroleum" companies.
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HazelGod
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I'm about sick of this ignorant bullshit. I don't really fucking care what you pay for it where you are...it doesn't invalidate the enormous economic pressure being put on people here by the hyperinflation of prices in the USA.
So with all due respect, take your self-righteous drivel and bugger off.
faceking
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HazelGod
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Dude I wouldn't want your natural gas anywhere near me...much less pay for it.
How's that for sophomoric?
faceking
Cherished Member
Rim shot.....
Seriously, I was suprised to see it so cheap. I think Diesel #2 is pretty cheap too... last time I checked.
Time for the "summer blend" here in California... AKA add an additional $.10-20 per gallon.
transformer_99
Experimental Member
[FONT=Verdana,Sans-Serif] Oil futures jump to record over $115 on supply concerns [/FONT]
[FONT=Verdana,Sans-Serif]Wednesday April 16, 4:36 PM EDT
[/FONT]Yeah right ! And in the 1970's there was a shortage too ?
[FONT=Verdana,Sans-Serif]Wednesday April 16, 4:36 PM EDT
[/FONT]Yeah right ! And in the 1970's there was a shortage too ?
dong20
Sexy Member
Uncharted waters ... I wonder how deep they may yet run.
Oil price crosses 115 dollars for first time - Yahoo! News UK
Oil hits record on U.S. inventory draw and dollar - Yahoo! News UK
Price speculation is behind much of this, and regardless of my views on fossil fuel use and people whining about petrol prices, it's starting to get dangerously silly. The latest WTI May contract price I found was $115.02. Two months ago that same contract was around $93.
Still, we're not being contangoed, just yet.
I just wonder when the house of cards will fail. It is built on the backs of the middle class and those of lower status. Imagine trying to pay your monthly expenses if you are making minimum wage. With the distances people in rural areas have to drive in order to get to work or shop for food etc. these gas prices coupled with the rising prices in every oil related product, as well as food and utilities, how can the average consumer continue to survive. I suppose many of them are using credit cards more and more and as their personal debt rises they will each reach a personal financial breaking point. I think the snowball is rolling downhill and growing quickly. When the american consumers feel pain the whole world is affected. I suppose as the recession/depression strikes and the american consumer stops buying the products of expanding China and India, then their economies will fail and they will no longer be buying all these new cars. Surely then the price of oil will fall. I just fear the repercussions of this global economic crash. Already there are riots in some countries because the prices of food have increased beyond the ability of people to pay. I truly hope these dire predictions are wrong, but the signs make me somewhat pessimistic of a turn-around in the near future.