Gas May Soon Cost a Sawbuck!

[Timberwolf]

http://www.nysun.com/news/gas-price-may-soar-between-7-and-10-gallon

 

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[Cynangyl]

gee thanks for the good news

 

[Timberwolf]

Cyn,

You are less than welcome, lol

TW

 

[Cynangyl]

lol soon we are all gonna be walkin or ridin horses again!

 

[jeff of pa]

Word is They are talking about Cutting the Gas Taxes
For the Summer. That will give more profit to
the Gas Companies, As they will raise Prices Immediately after.

I'm sure Gas will reach $10.00 a gallon Long before it drops
Below $3.00 ever again.

 

[Ray S ECenFL]

A sawbuck? Called the tip of the iceberg. I think it will go much higher than that. A lot of people will be hurting by the end of this year.

Our government officials are going to ease our pain by giving us a gas tax holiday. What a laugh. Is that the best they can do. Cut off your arm and get handed a band aid to stop the bleeding.

Should have gotten off oil during the first, oil shortage. 1973. USA needs major effort to find alternative fuel source and get off imported oil.

Lots of people will be hurting later this year when the high gas prices push up the cost of everything else.

The economy is going to get much worse before it gets any better.

Ray S

 

[trusty]

I've been wondering why one of those slick lawyers that advertise on the TV hasn't come up with a gimmick to sue the oil companies. Seems like they might be able to initiate a class action suit for something. Let's see: larceny; extortion; maybe rape.

Wooops, can't be rape, we are, in a way, consenting to being screwed.

 

[Smee]

While $7–$10 a gallon would be ground-breaking in America, these prices would not be trendsetting internationally. For example, European drivers are already shelling out $9 a gallon (which includes a $2-a-gallon tax).

There the liberals go . . . "We don't pay our fair share! Look at how much the Europeans spend."

They've been crying about it for years, and I guess they'll keep it up.

I'm way to the right of the Republicans (too liberal and wishy washy for me), but we better see something akin to the "Windfall Profits Tax" soon or those prices will be a reality. They'll go for everything the market can bear.

Windfall profits . . . we all know that the profits are way out of line with what they were before this started. But there is one thing that would kick em all in the gonads:

Institute the tax with the following loopholes for them to jump through:

Loophole One: Money spent to build NEW capacity would be taxed at 1/2 the rate as that not applied to the creation of new infrastructure. This would solve two problems at once. New construction would create jobs and increase refinery capacity. It would also provide a way to shelter 1/2 of any gains from price gouging.

Loophole Two: Money spent to increase capacity at existing refineries would be taxed at 70% of the windfall profits rate. This would likewise increase capacity and create jobs.

Loophole Three: Money spent to bring in new oil fields would be taxed at a rate of 35% to encourage the reduction of dependence on foriegn oil. Again, creating jobs and increasing capacity.

Providing these three opportunities to hold on to their ill gotten gains would be incentive to invest in THIS country and its citizens.

I sure hope someone out there has better suggestions than these, but they would still be a sight better than where we are today.

Just my two cents worth.

 

[Timberwolf]

The oil companies know that most of us will not give up driving....so I guess they have us right where they want us

Ray,

I couldn't agree with you more. Things are gonna get bad

We might have to get back to basics. Learn to grow our own food, milk the cow, and gather eggs from the hen house.
Hmmm.....that might not be so bad. A lot of work, but I bet it would be satisfying

TW

 

[Noodle]

Any "windfall" taxes placed on the oil companies will be passed on to the consumer in half a heartbeat. One cannot "punish" a corporation with taxes.

The labor market cannot support $10 a gallon gas. It won't pay people to go to work. I live 35 miles from my job. If it costs me $800 a month to drive to work each month, I'll sell my car, stay home, drop my home phone, car insurance, clothing allowance, lunch budget, cancel my credit cards, grow corn for my chickens, which I already have, plant a garden, buy 3 cows, and hibernate. And load my gun.

Tell me where I'm wrong.

 

[borninok]

Sadly, Timberwolf, as the prices rise....I think you will see a point that the people will decide that they have no other alternative but to fight back by illegal means. I can remember the days back in Oklahoma that there was a huge surge in siphoning gas from cars. I foresee it going past that nowdays.....sadly to domestic terrorism.....firebombing gas stations in protest. God help us all.

--Mel

borninok

 

[jeff of pa]

Any "windfall" taxes placed on the oil companies will be passed on to the consumer in half a heartbeat. One cannot "punish" a corporation with taxes.

The labor market cannot support $10 a gallon gas. It won't pay people to go to work. I live 35 miles from my job. If it costs me $800 a month to drive to work each month, I'll sell my car, stay home, drop my home phone, car insurance, clothing allowance, lunch budget, cancel my credit cards, grow corn for my chickens, which I already have, plant a garden, buy 3 cows, and hibernate. And load my gun.

Tell me where I'm wrong.

Your right Any charges are going to be passed on to the Consumer 10 Fold.

It's a war against the Middle & Low class in the U.S.
I don't see a cure for.

At this point. Minimum wage should be increased to $20.00 an hour
and people on fixed incomes retired, etc should get a 300% cost of living increase
however if it were done, Prices of everything would rise so the Manufacturers
could pay their Workers
and Oil & Gas would Skyrocket fruther to soak up all the mony we would have.

look how high the Gas is rising now that this stimulant check is comming.
the fuel companies want all our checks.
And will get them.

 

[MD Dog]

Just saw on the Fox Business channel that the record High profits for the oil companies have ceilinged out already. That means in a nutshell that there's a limit to how far they can profiteer and get away with it. They can charge whatever they want but the end result is that people curtail their driving habits in accord with higher prices beyond a certain limit which is what they just found out. The higher the price the less demand.

 

[trusty]

Wonder why gas is not considered a "utility" like electricity & the telephone? Is it because it might then be regulated?

 

[Timberwolf]

Wonder why gas is not considered a "utility" like electricity & the telephone? Is it because it might then be regulated?

You are probably right, less money in their pocket, if they were regulated.

TW

 

[Smee]

Any "windfall" taxes placed on the oil companies will be passed on to the consumer in half a heartbeat. One cannot "punish" a corporation with taxes.

The labor market cannot support $10 a gallon gas. It won't pay people to go to work. I live 35 miles from my job. If it costs me $800 a month to drive to work each month, I'll sell my car, stay home, drop my home phone, car insurance, clothing allowance, lunch budget, cancel my credit cards, grow corn for my chickens, which I already have, plant a garden, buy 3 cows, and hibernate. And load my gun.

Tell me where I'm wrong.

Your right Any charges are going to be passed on to the Consumer 10 Fold.

It's a war against the Middle & Low class in the U.S.
I don't see a cure for.

At this point. Minimum wage should be increased to $20.00 an hour
and people on fixed incomes retired, etc should get a 300% cost of living increase
however if it were done, Prices of everything would rise so the Manufacturers
could pay their Workers
and Oil & Gas would Skyrocket fruther to soak up all the mony we would have.

look how high the Gas is rising now that this stimulant check is comming.
the fuel companies want all our checks.
And will get them.

Windfall Profits Taxes --- If they raise the gas prices, the taxes go up. It is a cap on their "profits", not an added cost of doing business. The taxes don't go up proportionally, unless you consider 100% proportional. It was designed to reign in the abuses which were taking place in the 1970's. AND IT WORKED!

What the younguns here, as well as those who have been gourging themselves on the tripe spilled out by the GOP headed by "El Rushbo the LIB" and the rest of the media (who are too doggoned lazy to investigate) don't understand is this fact:

No matter how high they would jack the price of a gallon of gas, their profits would be limited to a "pre-crisis" level. Let em charge $20/gallon. They will take home the exact same amount of profit as they would for $2.00 gallon gas. These "manufactured shortages" are being used to pay back the oil companies who spent so much of their money they were protecting from the previous "windfall profits tax" by INVESTING IN CAPACITY ---- i.e. hiring Halliburton and Brown & Root (a wholly owned subsidiary of Halliburton) to build and enlarge refineries during the 1970's and 80's.

If you had any idea of the increases in capacity done in those years, you would also question how there is a shortage in production capacity.

I left the petroleum division of Brown & Root in 1984 ( 8) ), so I'm not sure about how they did after that. But I do know what I'm talking about. Just curious why no one else I worked with is willing to say anything . . .

BTW, read this: Permanent Oil Glut just for fun. From the country of Canada . . . Enjoy.

 

[bakergeol]

From Smee
"Windfall Profits Taxes --- If they raise the gas prices, the taxes go up. It is a cap on their "profits", not an added cost of doing business. The taxes don't go up proportionally, unless you consider 100% proportional. It was designed to reign in the abuses which were taking place in the 1970's. AND IT WORKED!"

Nope- The WPT enacted by Carter was disastrous for this country. It made us more reliant on foreign imports and increased the cost of gasoline to consumers.

Usually on threads like this we get EVIL BIG OIL profiteering rants. However if the oil companies gave away their profit to the consumers that would lower the price of gasoline- What 10 cents a gallon? So instead of $3.60 a gallon you would be paying $3.50 a gallon. Problem solved eh?

We need to be producing 2 to 3 million more barrels of oil a day in this country. It would make an incredible difference in the price of oil. It would tell the world we are serious. However, 85% of our coastline is still offlimits to oil exploration. We are forever debating when we can drill in Anwar. Perhaps when gasoline does reach $10 a gallon, we will be finally allowed to fully develop our national resources. At present people think that protecting their views from oil derricks and not harming Mother Earth with oil wells is more important than energy development. Thank BIG GREEN for the philosophy.

George

 

[borninok]

What I haven't understood is....we are fighting the war in Iraq. Our men and women are dying for their independence. Why aren't they supplying the oil to us for all of our help?

Am I missing something here?
--Mel

borninok

 

[packerbacker]

Yep, they are making record profits and will continue to do so. Another thing is, we will never get away from giving our hard-earned bucks to the SAME people. While they are making all this money selling us gasoline etc., they are also getting billions in tax breaks to explore for more oil and invest in research for solar, wind and fuel cell sources of energy. If we ever do get off the oil dependancy, we will be paying the same people for our fuel cells. The cost of the fuel cells and other sources of energy will still be enough that these fat cats still make the same profits. The government, as much as I like them to stay out of certain matters, should take this research money from the oil companies and give it to the private sector for research. That way, when a good, cheap alternative for oil is found, it will be owned by the people, not the oil companies.
For now, I say, if a 55 galon barrel of oil costs $120, then a 50-lb bag of rice should cost the same. Maybe, if some of the masses in these oil rich countries can't find food, they will eliminate all these sheik families etc. and start dealing in fair trade. I don't care what the Europeans are paying for gas. I travel 50 miles each way to work every day. Depending on where I am in Europe, I could cover 4 different countries with 100 miles of driving.

 

[TheHarleyMan2]

I just came up with the GREATEST SOLUTION!

When gas gets to that amount per gallon. Lets ALL CALL OUR employers and tell them that we don't have enough money for gasoline to get to work, because we are not making enough income. Then if and when we lose OUR JOBS, due to transportation being a MAJOR ROLE getting to and from work, lets ALL get together and do a CLASS ACTION LAWSUIT and sue the government and the oil industry for US losing OUR jobs because we can't get to work, or bring OUR kids to daycare or school, etc. One person can not win, but thousands or millions of people standing together in a lawsuit against the government and the oil companies would definitely get someones attention who has the power!