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Keeping Oil Prices High is In the Interest of Bush Family Wealth

Discussion in 'The Lounge' started by 1-ton, Oct 30, 2004.

  1. 1-ton

    1-ton 1/2 ton status Premium Member

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    If people think oil prices are high because of an oil shortage, then read what Alan Greenspan, Chairman of the Federal Reserve, has to say about it.

    Long Read: http://www.federalreserve.gov/boarddocs/speeches/2004/200410152/default.htm

    In effect (if you read between the lines) Alan Greenspan says because of increased oil exploration technology there is no oil shortage, and that the energy companies have manufactured the current oil shortage, in order to reap higher profits from the higher world demands.
     
  2. 88Silverado

    88Silverado 1/2 ton status

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    Sure it is...All 3 major oil company's just posted new record profits (again) for the 3rd quarter. Just wish I bought some oil stock awhile ago /forums/images/graemlins/tongue.gif
     
  3. sled_dog

    sled_dog 1 ton status

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    Approximately 50% of the price of gas at our gas station is tax. /forums/images/graemlins/dunno.gif at 2.05 a gallon means the state is pulling down about 1.00 a gallon, we do a lot of gallons a day, interesting.
     
  4. 84k5

    84k5 1/2 ton status

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    The government has nothing better to do than steal our money. I paid $2.41 yesterday so quit your bitchin. /forums/images/graemlins/tongue.gif
     
  5. HarryH3

    HarryH3 1 ton status Author

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    Better check your math. /forums/images/graemlins/wink.gif When I looked on Thursday, regular unleaded was priced at $1.29 per gallon on the commodity spot market. That's the price out the door of the refinery. Add in the cost of transportation, any additives, and markup for the station selling it and the cost is even higher. Most states have a total gas tax load in the 30-50 cents per gallon range, including federal tax. (But Pennsylvania is number 4 on the "highest tax" list at http://www.eere.energy.gov/vehiclesandfuels/facts/2004/fcvt_fotw317.shtml ). /forums/images/graemlins/shocked.gif Georgia is the cheapest, at just 7.5 cents per gallon (for state tax only). Federal tax on gasoline is 18.40 cents per gallon.

    When gas was a buck a gallon then the taxes were about half of the price. But the gas taxes are a fixed amount per gallon, not a percentage. So today the gas taxes are closer to 25% of the price at the pump. The oil companies are reaping the rest of the rewards. /forums/images/graemlins/angryfire.gif

    There's LOTS more info available at http://www.fueleconomy.gov/feg/gasprices/FAQ.shtml /forums/images/graemlins/cool.gif There's also a complete chart of fuel taxes, by state at Tax Chart
     
  6. sled_dog

    sled_dog 1 ton status

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    Eh I was going on what my boss told me, he said cost of gas before our markup and tax was like 1.05.

    Our diesel tax is the highest in the country, no surprise there, they've raised it a few times in the past few years. Really like sticking it to truckers around here.
     
  7. unclematty

    unclematty 1/2 ton status

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    ya'll kwitcherbitcin! I fill my kenworth up everyday with over $ 400.00, every freakin day! I don't wanna hear about no 2.41 a gallon I'm payin 2.52 for diesel, and I don't have a choice bout it, I gotta drive!?!? /forums/images/graemlins/angryfire.gif
     
  8. Resurrection_Joe

    Resurrection_Joe 1 ton status

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    Everyone wines about gas, but EVERYTHING gets more expensive, I don't understand.

    Fuel dependant society I guess

    I am thinking about buying a bike (motorcycle) though
     
  9. bigyellowjimmy

    bigyellowjimmy 1/2 ton status

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    Sure wish the Democrats and greenie tree huggers would let us drill our own oil in Alaska. Its a shame that we have PLENTY of crude in the good ole USA and we refuse to pump it because we dont want to disturb mother earth. /forums/images/graemlins/angryfire.gif
     
  10. 4by4bygod

    4by4bygod 1/2 ton status

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    What's funny is that when fuel is cheap, the libs all want it to be 5 bucks a gallon so we can be like europe, thinking that higher prices will make us use less fuel. this is what guys like kerry consider an "energy policy".

    When fuel costs 2 bucks plus a gallon due to market forces, now that's a bad thing, according to these same people. I guess higher prices are acceptable when they're gov't mandated in the form of taxes for our own good, eh?

    IMHO, If the Bush family REALLY was in bed with the saudis, prices would have been kept artificially low to insure Bush's popularity and make for easier re election.

    Fuel prices are high now because china is buying everything in sight, we have limited refining capacity thanks to the tree huggers, and EPA mandates special gasoline blends for different areas of the US. Just wait until 2006 when ultra low sulfur diesel (15pppm)is mandated nationwide. You think fuel is costly now? hoo boy.

    Tom /forums/images/graemlins/usaflag.gif /forums/images/graemlins/k5.gif
     
  11. 1-ton

    1-ton 1/2 ton status Premium Member

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    [ QUOTE ]
    IMHO, If the Bush family REALLY was in bed with the saudis, prices would have been kept artificially low to insure Bush's popularity and make for easier re election.


    [/ QUOTE ]

    You have a good point there.
     
  12. bigyellowjimmy

    bigyellowjimmy 1/2 ton status

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    [ QUOTE ]
    IMHO, If the Bush family REALLY was in bed with the saudis, prices would have been kept artificially low to insure Bush's popularity and make for easier re election.


    [/ QUOTE ]

    [ QUOTE ]
    You have a good point there.

    [/ QUOTE ]

    I agree, its completely illogical to make the accusation that Bush personally is effecting the high price of crude oil. He would most certainly be dropping the crude price to appease the naysayers who constanly barrage use with "the economy is terrible" propaganda the instant a Republican President enters office.......if he had any control whatsoever over crude prices.....which neither he nor any President has.
     
  13. 1-ton

    1-ton 1/2 ton status Premium Member

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    I am not crazy about either Bush or Kerry. Kerry is an uninsperational, wet noodle, talking head; and Bush is a corporate pirate looking to loot the U.S. Treasury.
     

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