Posted on 04/18/2006 3:07:36 AM PDT by jmc1969
Oil surged to a record high above $72 on Tuesday on concern that Iran's nuclear stand-off with the West could cut oil exports from the world's fourth-largest crude exporter.
"The Iranian situation is making us all very nervous... We don't seem to be getting anywhere on the diplomatic solutions," said Deborah White, an analyst at SGCIB in Paris.
With almost a quarter of Nigerian oil production still shut after rebel attacks two months ago, oil consumers feel almost as vulnerable as they did during the Arab oil embargo in the 1970s.
(Excerpt) Read more at today.reuters.com ...
"Fears" my ass. It's an excuse to raise prices.
Agreed - Ms. White, an analyst at SGCIB in Paris, seems to completely discount the progress being made with Russia on the diplomatic front in particular.
Exactly,
we are paying 3.09 a gallon for premium in Dallas.
$4 a gallon this summer.
(I'm going to have to start hedging in the commodities market fo next winter's heating oil.)
Now, who is the price raiser. Don't you know that commodities are bid on by traders. It is the buyer, not the seller who raises prices.
The environmentalists and the feckless politicians who buy into their drivel are to blame for high energy prices, especially the RINO’s in congress holding up ANWR.
Still Bush does not sign executive orders opening up lands for oil, coal and gas exploration. A few news stories about huge deposits coming online soon, would cool this market, but record profits are being made.
Sounds like a good chance to raise fuel taxes.
That happens automatically with the sales tax.
If the base price goes up more revenue is generated.
States love this,it has helped them balance their budgets.
Iran, Nigeria, spring plant shut downs, and speculation.
Just wait till $7 gas.
>>That happens automatically with the sales tax.
If the base price goes up more revenue is generated.<<
In the case of federal taxes on galoline, the tax is PER GALLON; no increase in revenue for higher prices. I know of no state that doesn't have a set, per gallon, tax, either. The only way to raise the revenue level is to increase the per gallon tax.
Though I doubt they have the balls to do it in the face of rising retail prices, no legislature is above pulling just such a stunt.
In NY it is 7%.If the price the tax is based on is $1.00 the state collects .07 additional so you pay $1.07.
As the base price goes up so does the amount collected,$2.00 would give the state .14 and so on.
and you will think of these as the good old days
Gonna keep repeating on these threads again and again:
We have the technology and capability to use surf-powered generators to seperate hydrogen from water, store the hydrogen and use it to fuel our vehicles. It would run just like the propane-powered cars do. We can do this RIGHT NOW! EVERY single enemy of America would implode immediately if we did this. WHY AREN'T WE AT LEAST TRYING?!?!
The lack of interest in non-fossil fuel technologies is almost sinister. We've had years to develope alternatives and massive amounts of cash for research. Your Right, it doesn't make a lot of sense.
Let the price go up up up as long as we don't have to stand in line to get gas. That would really piss me off.
Oil companies are a huge lobby that have bought both parties. Change won't happen until the price of gas forces it to.
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