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Keyword: gasoline

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  • Oregon to test pay-per-mile idea as replacement for gas tax

    05/20/2015 11:34:05 AM PDT · by Timber Rattler · 27 replies
    AP ^ | May 20, 2015 | GOSIA WOZNIACKA
    Oregon is about to embark on a first-in-the-nation program that aims to charge car owners not for the fuel they use, but for the miles they drive. The program is meant to help the state raise more revenue to pay for road and bridge projects at a time when money generated from gasoline taxes are declining across the country, in part, because of greater fuel efficiency and the increasing popularity of fuel-efficient, hybrid and electric cars. Starting July 1, up to 5,000 volunteers in Oregon can sign up to drive with devices that collect data on how much they have...
  • Attorney General Jack Conway files federal antitrust lawsuit against Marathon Petroleum

    05/13/2015 4:55:36 PM PDT · by Republican Wildcat · 7 replies
    cn|2 Pure Politics ^ | 5/12/2015 | Kevin Wheatley
    Kentucky Attorney General Jack Conway has sued Marathon Petroleum, accusing the fuel company on Tuesday of unfairly keeping competitors out of the state and keeping gas prices high. Conway filed the antitrust lawsuit in U.S. District Court in Louisville against the state’s largest supplier of gasoline and reformulated gasoline, which must be sold in Louisville and Covington during summer months to curb pollution from emissions. Louisville residents typically pay between 20 and 30 cents per gallon more than others throughout Kentucky, and a comparison of reformulated gasoline prices between Louisville and St. Louis revealed gasoline typically cost 25 cents more...
  • Researchers study how metal contamination makes gasoline production inefficient

    05/01/2015 9:44:37 AM PDT · by Red Badger · 11 replies
    Phys.Org ^ | 05/01/2015 | Provided by SLAC National Accelerator Laboratory
    Scientists at the Department of Energy's SLAC National Accelerator Laboratory and Utrecht University have identified key mechanisms of the aging process of catalyst particles that are used to refine crude oil into gasoline. This advance could lead to more efficient gasoline production. Their recent experiments studied so-called fluid catalytic cracking (FCC) particles that are used to break long-chain hydrocarbons in crude oil into smaller, more valuable hydrocarbons like gasoline. "A major problem is that these catalysts quickly age and lose their activity, so tons of fresh catalysts have to be added to a reactor system every day," said lead researcher...
  • Gas price fallout: People trading in hybrids for SUVs

    04/21/2015 6:21:55 PM PDT · by Red in Blue PA · 27 replies
    With gas prices low, more people are trading in their hybrid and electric cars for purely gasoline-powered vehicles, including SUVs. So far this year, only 45 percent of people that traded in an environmentally-friendly hybrid car purchased another, according statisticians at Edmunds.com. In 2012, that figure was over 60 percent and this is the first time it has ever fallen below 50 percent.
  • Cheap Gas Helps Pull the Plug on Electric Cars [Good News on Earth Day!]

    04/22/2015 4:10:53 AM PDT · by SoFloFreeper · 3 replies
    Time ^ | 4/22/15 | Brad Tuttle
    Sales of the Nissan Leaf and other electric cars have dipped thus far in 2015, and automakers have resorted to price cuts to boost interest in plug-ins.
  • Texas leads nation in exports, thanks to petrochemicals and gasoline

    04/10/2015 4:53:30 AM PDT · by thackney · 8 replies
    Fuel Fix ^ | April 9, 2015 | Jennifer A. Dlouhy
    Texas refineries churning out gasoline and diesel — and selling the bounty overseas in record levels — helped make the Lone Star State an export leader in 2014, according to new government data. About a fifth of Texas’ $289 billion in exported goods last year were petroleum and coal products — about $59.1 billion worth — according to a report from the Commerce Department and U.S. Trade Representative. “Texas is leading the way,” Commerce Secretary Penny Pritzker told reporters on a conference call to discuss the report Thursday. “They support more than 1.1 million jobs through exports.” Other national leaders...
  • Summer gasoline prices to be down more than $1 from last summer

    04/08/2015 6:55:11 AM PDT · by thackney · 19 replies
    Energy Information Administration ^ | APRIL 8, 2015 | Energy Information Administration
    U.S. drivers are projected to pay an average of $2.45/gallon (gal) for regular grade gasoline this summer (April through September), according to EIA's Short-Term Energy and Summer Fuels Outlook released yesterday. This year's projected average summer price is down from a $3.59/gal average during summer 2014. The lower retail price this summer reflects a significant drop in world crude oil prices from last summer. As the main input cost in the refining process, crude oil is the major driver of retail gasoline prices, and U.S. gasoline prices tend to follow prices of the international benchmark Brent crude. For summer 2015,...
  • It's Official: Americans Spent All Their "Gas Savings" On Obamacare

    03/27/2015 10:37:36 AM PDT · by SeekAndFind · 17 replies
    Zero Hedge ^ | 03/27/2015 | Tyler Durden
    Last quarter, when we showed what was "The Reason For The "Surge" In Q3 GDP", some were shocked to learn that in the quarter in which US GDP posted a 5% surge, it was none other than Obamacare - a mandatory tax according to the Supreme Court which has the benefit of flowing through the US income statement - which contributed the bulk of this upside. We are happy, and we use the term loosely, that history has just repeated itself, and now that the final number is available, what we wrote a month ago in "Here Is What Americans...
  • Gasoline price spike in Midwest linked to refinery issues

    03/20/2015 12:16:42 PM PDT · by Citizen Zed · 8 replies
    Consumer Affairs ^ | 3-19-2015 | Mark Huffman
    Gasoline prices in the U.S. are still lower than they have been in years but nonetheless are higher than they were a month ago. And in a handful of Midwestern states, sharply higher. According to the AAA Fuel Gauge survey, the average price of self-serve regular in Indiana jumped 10 cents a gallon in 24 hours, from $2.16 a gallon to $2.26. In Michigan, the average price also jumped a dime a gallon, from $2.25 to $2.35 a gallon. In Illinois, the increase is much less dramatic, rising from $2.35 a gallon to $2.38. But the average price of gasoline...
  • U.S. running out of room to store crude

    03/14/2015 9:17:42 PM PDT · by 2ndDivisionVet · 34 replies
    The Toronto Star / The Associated Press ^ | March 12, 2015 | Jonathan Fahey
    If the amount of oil in storage continues to climb it could send the price of crude — and probably gasoline, too — plummeting. The U.S. has so much crude that it is running out of places to put it, and that could drive oil and gasoline prices even lower in the coming months. For the past seven weeks, the United States has been producing and importing an average of 1 million more barrels of oil every day than it is consuming. That extra crude is flowing into storage tanks, especially at the country’s main trading hub in Cushing, Oklahoma,...
  • Crony Biofuel Politics Wag the Dog

    03/14/2015 9:47:48 AM PDT · by Kaslin · 24 replies
    Townhall.com ^ | March 14, 2015 | Paul Driessen
    Talk about the Norfolk terrier tail wagging the Great Dane. If they are to have any hope of winning their party’s nomination, Republican presidential hopefuls better support ethanol mandates, Hawkeye State politicos told potential candidates at the recent Iowa Agricultural Summit in Des Moines. “Don’t mess with the RFS,” Republican Governor Terry Branstad warned, referring to Renewable Fuel Standards that require refiners to blend increasing amounts of ethanol into gasoline. “It is the Holy Grail, and I will defend it,” said Rep. Steve King, another Iowa Republican. It is vital for reducing carbon dioxide emissions and preventing dangerous climate change...
  • Road builders want 15-cent gas tax hike

    03/12/2015 10:45:58 AM PDT · by C19fan · 26 replies
    The Hill ^ | March 12, 2015 | Keith Laing
    A group representing road builders said Thursday that the federal gas tax should be increased by 15 cents per gallon to help pay for infrastructure improvements. The American Road & Transportation Builders Association (ARTBA) said increasing the gas tax this year would raise $401 billion for new transportation spending. The gas tax hike could be offset with a “federal tax rebate for middle and lower income Americans for six years,” the group suggested.
  • Fitch: Prolonged refinery strike could affect gasoline supplies

    03/11/2015 4:37:24 AM PDT · by thackney · 2 replies
    Fuel Fix ^ | March 10, 2015 | Ryan Holeywell
    The ongoing United Steelworkers strike hasn’t impacted the market for refined products much yet, but it could if the strike continues for much longer, according to a new report by Fitch Ratings. The credit ratings agency says the strike could have an especially pronounced effect on the U.S. gasoline market. So far, the implications of the strike — now in its second month and affecting 15 refineries and chemical plants — has been relatively limited, Fitch experts said. But that could be changing. The first quarter of the year typically has lower demand for refined products, Fitch said; meanwhile, adequate...
  • What happened to big savings at the gas pump?

    03/06/2015 7:02:17 AM PST · by thackney · 42 replies
    cnbc ^ | 4 Mar 2015 | John W. Schoen
    The plunge in gasoline prices has generated a windfall for American drivers. But so far, there's little evidence those savings are producing a widely anticipated boost in consumer spending. So where is all that money going?... Even though prices didn't fall until late last year, Americans saved some $14 billion on gasoline last year, or an average $115 per driver, according to estimates from AAA. The group figures if pump prices stay tame, those savings could amount to as much as $75 billion this year. That kind of saving—if consumers spend it elsewhere—could provide a powerful boost to the U.S....
  • Petroleum refinery outage in California highlights markets’ quick price reaction

    02/28/2015 7:40:48 AM PST · by thackney · 18 replies
    Energy Information Administration ^ | FEBRUARY 27, 2015 | Energy Information Administration
    On February 18, an explosion and fire occurred at ExxonMobil's refinery in Torrance, California. The Torrance refinery, the third-largest refinery in Southern California, has about 20% of the region's fluid catalytic cracking capacity and is an important source of gasoline and distillate fuel oil supply for Southern California. Unplanned refinery outages can have noticeable effects on liquid fuel markets, disrupting supplies of gasoline and distillate, particularly in regions that are tightly balanced, such as the West Coast (defined as Petroleum Administration for Defense District (PADD) 5). When refineries undergo planned maintenance, they make arrangements for alternative sources of supply to...
  • Australian Mining Giant BHP Just Told The Market Exactly Why Oil Prices Are Going Lower

    02/23/2015 6:40:23 PM PST · by blam · 17 replies
    BI ^ | 2-23-2015 | Myles Udland
    Myles Udland February 23, 2015 Oil prices have been volatile of late, but a number of banks and commenters have said that oil prices are going lower. In its half-year earnings release on Monday, Australian mining giant told the market exactly why: In response to weaker prices, [BHP] will reduce its Onshore US operated rig count from 26 at period end to 16 by the end of the 2015 financial year. The majority of the revised drilling program will be focused on our liquids rich Black Hawk acreage with activity in the Permian and Hawkville limited to the retention of...
  • Refinery workers strike spreads to biggest US location

    02/21/2015 11:58:20 AM PST · by Olog-hai · 10 replies
    Associated Press ^ | Feb 21, 2015 1:43 PM EST | Tom Murphy
    The first nationwide oil refinery strike in more than 30 years was expected to grow by four more plants over the weekend, including the largest refinery in the U.S., the Motiva Enterprises refinery in Port Arthur, Texas. The United Steelworkers union said Saturday workers at the Motiva Enterprises refinery started their strike at midnight Friday. Employees at two other refineries and a chemical plant in Louisiana planned to strike at the end of Saturday. The union said in a statement that it expanded the strike that started Feb. 1 at refineries largely in Texas and California because the industry has...
  • Cheaper gas lowers US retail sales; spending up elsewhere (the ‘narrative’ continues)

    02/12/2015 8:48:26 AM PST · by Olog-hai · 16 replies
    Associated Press ^ | Feb. 12, 2015 9:04 AM EST | Christopher S. Rugaber
    U.S. retail sales fell sharply last month as gas prices plummeted and auto sales slowed. But excluding those volatile categories, Americans stepped up their spending a bit. Retail sales dropped 0.8 percent in January, the Commerce Department said Thursday, following a 0.9 percent decline in December. The dollar value of gas station sales plunged 9.3 percent, the largest drop in six years. Auto dealer sales also fell for the second straight month. Outside those categories, sales ticked up 0.2 percent after a flat reading in December. The modest gain suggests Americans are still cautious about spending their windfall from lower...
  • Gasoline Prices Rebounding Closer to $2 Average [Tulsa, OK]

    02/09/2015 11:16:39 AM PST · by Star Traveler · 8 replies
    OK Energy Today ^ | Monday, February 9, 2015 | Staff
    Gasoline prices are moving back closer to the $2 a gallon mark across Oklahoma, according to the gasoline website Gas Buddy. The site says Oklahoma’s average has jumped 14 cents a gallon in the past week to a new level of $1.98 a gallon. A month ago, the statewide average was $1.82 a gallon. Nationally, GasBuddy.com reports an average of $2.17 a gallon, which is a 12 cent jump in the past week and only a penny more than a month ago. The cheapest gasoline found in Oklahoma is $1.67 a gallon in Tulsa. Prices of $1.77 a gallon are...
  • Gas prices start to climb again

    02/09/2015 5:06:15 AM PST · by Alas Babylon! · 21 replies
    WYMT TV/AP ^ | 9 February 2015 | Brandon Robinson
    <p>WASHINGTON D.C. (AP) - All good things must come to an end. After months of watching them drop, gas prices went up again this week to an average of $2.20 a gallon, according to the Lundberg Survey.</p> <p>After plummeting by $1.65 between May and January, it seems the downward trend is over.</p>
  • Enjoy Low Gas Prices While You Can…Because New Taxes in These States Might Wipe Out Your Savings

    02/06/2015 9:25:58 AM PST · by ThethoughtsofGreg · 27 replies
    IJ Review ^ | 1-31-15 | Kevin Boyd
    American drivers have been enjoying low gas prices lately. According to AAA, the national average price of gas per gallon is $2.03 for regular, compared to $3.29 this time last year. Also happy with low gas prices are state governments, but mainly for different reasons: politicians in certain states see low gas prices as an opportunity to raise the gas tax. Here’s a map of the states currently considering an increase in gas tax:
  • Why Cheaper Oil Doesn’t Always Lead to Economic Growth

    02/05/2015 5:36:06 AM PST · by thackney · 10 replies
    Wall Street Journal ^ | Feb. 4, 2015 | IAN TALLEY and BRIAN SPEGELE
    ...Some governments have moved already to shore up their revenues by raising gasoline taxes or cutting fuel subsidies. At the same time, falling oil costs have pumped up deflation fears across Europe and Japan, adding to the risk that consumers and businesses will hold back on spending and investment, dragging on growth. China has raised fuel-consumption taxes by 50% since November. Gasoline prices have soared in Indonesia as the authorities eliminated subsidies altogether. High taxes in Japan mean pump prices have fallen only 15% in the past six months, compared with a 40% decline in the U.S. Taxes also blunt...
  • Increase in average gasoline prices ends 17-week streak of declining prices

    02/03/2015 5:26:52 AM PST · by thackney · 32 replies
    Energy Information Administration ^ | FEBRUARY 3, 2015 | Energy Information Administration
    IA conducts a survey of gasoline prices each Monday, and yesterday's survey showed the U.S. average regular retail gasoline price increasing for the first time in 18 weeks. The steady decline in prices over the previous 17 weeks was the longest consecutive decrease in EIA's weekly survey since prices fell 14 cents per gallon over a 24-week period in 1995. The decline is the largest percentage decline since a 58% drop in gasoline prices over 15 weeks in late 2008. With oil prices at around $45 per barrel (bbl), petroleum refinery outages in the Midwest and Gulf Coast regions in...
  • Americans are failing to pump gas-price savings back into the economy

    02/02/2015 11:36:41 AM PST · by Lorianne · 51 replies
    http://www.marketwatch.com ^ | 31 January 2015 | Robin Sidel and Nick Timiraos
    <p>Americans are taking the money they are saving at the gas pump and socking it away, a sign of consumers’ persistent caution even when presented with an unexpected windfall.</p> <p>This newfound commitment to frugality was illustrated this past week when the nation’s biggest payment-card companies said they aren’t seeing evidence consumers are putting their gasoline savings toward discretionary items like travel, home renovations and electronics.</p>
  • Refinery strikes unlikely to move gasoline, oil prices

    02/02/2015 5:08:06 AM PST · by thackney · 19 replies
    Fuel Fix ^ | February 1, 2015 | Collin Eaton
    Steelworker strikes that began Sunday at seven U.S. oil refineries and two chemical plants have a slim chance of pumping up gasoline or crude prices dramatically in the near future, analysts say. Talks between the United Steelworkers union and big oil companies led by Royal Dutch Shell broke down Saturday after the two groups couldn’t reach an agreement on – among other contractual issues – the overtime that workers have to take when others are called away to train new recruits, a point “when the fatigue sets in,” union spokeswoman Lynn Hancock said. But the refineries, analysts said, can keep...
  • I Come To Bury Renewable Fuel Standards

    02/01/2015 9:50:49 AM PST · by Kaslin · 32 replies
    Townhall.com ^ | February 1, 2015 | Paul Jacob
    Few congressional observers ever expected that U.S. Senators Dianne Feinstein (D-CA) and Pat Toomey (R-PA) would cosponsor the “Corn Ethanol Mandate Elimination Act,” to abolish the corn ethanol Renewable Fuel Standard (RFS), which requires that increasing volumes of this biofuel be blended into gasoline. Their collaboration again proves the adage that politics often makes strange bedfellows. The RFS was a mistake when enacted ten years ago. Since then, despite attempts to curtail it, the program has expanded and had more lives than Freddy Krueger. Perhaps the senators are now paraphrasing William Shakespeare and Marc Antony, saying “I come to bury...
  • Three Reasons Why Lower Oil Prices Won't Lead To A 'Deflationary Spiral'

    02/01/2015 10:32:20 AM PST · by blam · 25 replies
    BI ^ | 2-1-2015 | Myles Udland
    Myles Udland Febuary 1, 2015Economists and central bankers hate deflation because of "deflationary spirals." A "deflationary spiral" occurs when lower prices cause consumers to wait for even lower prices, creating excess production capacity, excess inventory, and ever-lower prices and so on. It is a circular pattern. In a note to clients last week, Bank of America Merrill Lynch economist Ethan Harris took to task the idea that the deflation — or really, disinflation — that we're seeing due to the crash in oil prices will lead to a much-feared "deflationary spiral." Harris outlines this basic sketch as what some members...
  • Defense Against Demagogues

    01/28/2015 1:10:59 PM PST · by Kaslin
    Townhall.com ^ | January 28, 2015 | Walter E. Williams
    When gasoline sold at record prices, Sen. Bernie Sanders, I-Vt., said, "I think it's time to say to these people, 'Stop ripping off the American people.'" When the average price of regular gas was close to $4 a gallon, Sen. Chuck Schumer, D-N.Y., called for Congress to look into breaking up giant oil companies. The claim was that "Wall Street greed (was) fueling high gas prices." Today in some places, gasoline is selling for less than $2 a gallon, less than half of its peak price in 2008. The idiotic explanation that attributed high oil prices to greed might now...
  • Falling Gas Tax Revenue Has California Lawmakers Considering Mileage Tax Plan

    01/26/2015 10:47:33 AM PST · by C19fan · 64 replies
    CBS SF Bay Area ^ | January 25, 2015 | Staff
    With an increase in electric and hybrid vehicles along with better fuel-efficient vehicles, changing Bay Area drivers habit are posing a serious problem for state coffers. As motorists use less and less gas, gas tax revenues to pay for state highways, roads and bridges shrink. Meanwhile, as gas prices fall, so does the sales tax generated by fuel sales. In California, among the taxes collected on fuel is a 2.25% sales tax on gasoline and a 9.67 percent tax on diesel.
  • Federal gas tax increase needed for roads, bridges and highways

    01/25/2015 11:12:00 PM PST · by Tolerance Sucks Rocks · 50 replies
    The Contra Costa Times ^ | January 24, 2015 | Contra Costa Times
    The president was a conservative's conservative. He had campaigned on reducing taxes and made it his legacy. But when a gas tax increase was proposed, it was a different story. In his weekly radio address, he said, "We simply cannot allow this magnificent (highway) system to deteriorate beyond repair." That was 1982. The president was Ronald Reagan. Unfortunately, the disrepair Reagan feared has come to pass. The federal gas tax of 18.4 cents hasn't been raised since 1993, and the Highway Trust Fund is severely underfunded. A 10- to 15-cent a gallon increase would provide enough money to meet the...
  • Low gas prices, incentives change math for electric cars

    01/22/2015 7:14:12 PM PST · by jazusamo · 148 replies
    Fox News ^ | January 22, 2015 | AP
    Drivers trying to calculate whether it's practical to own an electric car are facing a new math. U.S. gas prices have fallen more than $1 per gallon over the last 12 months, to a national average of $2.06, according to AAA. That makes electric cars — with their higher prices tags — a tougher sell. "Fuel savings are not top of mind to many consumers right now," says John Krafcik, president of the car shopping site TrueCar.com. Automakers have responded by slashing thousands of dollars off the sticker price of electrics. Incentives averaged $4,159 per electric car last year, up...
  • Why Didn't the Media-Proclaimed Experts Predict the Oil Price Plunge?

    01/20/2015 6:38:02 PM PST · by servo1969 · 32 replies
    RushLimbaugh.com ^ | 1-20-2015 | Rush Limbaugh
    RUSH: This is a good point here. A story by Alex Pollock at Real Clear Markets: "Why Did No One Predict the Oil-Price Collapse?" This interests me. "We have just had a free fall in one of the most important prices in the world-the price of oil. Looking back, we are keenly aware that it dropped about 60% from its 2014 high to its recent low. Although some people thought the price of oil would go down, nobody (at least nobody that I can find) publicly predicted anything like this big a drop. Why? Oil prices went from $108 a...
  • Mexico suffers gasoline shortages because of pipeline thefts

    01/18/2015 6:52:36 PM PST · by thackney · 39 replies
    Bakken.com ^ | January 13, 2015 | Associated Press
    Mexico’s state-owned oil company acknowledges that pipeline thefts have gotten so bad they’re causing gasoline shortages in some states. The Pemex oil company says thieves repeatedly drilled illegal taps into pipelines carrying gasoline from refineries to distribution centers in north-central Mexico.... Thieves drilled around 2,500 illegal taps in the first nine months of 2104, and stole more than $1 billion in fuel.
  • Congress Should Pump the Brakes on Gas Tax Hike

    01/16/2015 8:40:50 AM PST · by Kaslin · 6 replies
    Townhall.com ^ | January 16, 2015 | Eric Peterson
    While few Americans were fortunate enough to see a holiday bonus this year, there is one gift that American motorists have been enjoying of late; lower gas prices. Currently sitting at more than a dollar below the average price last year, U.S. drivers are projected to save somewhere between $380 and $750 dollars during 2015 if the prices hold. While wages have remained stubbornly flat for most workers, gas prices have provided a rare glimmer of hope for American workers, who have been struggling with an anemic job market, labor participation rates not seen since the 1970s, and median family...
  • Paul Ryan: Read my lips, no new gas taxes

    01/16/2015 7:05:00 AM PST · by SeekAndFind · 20 replies
    Hotair ^ | 01/16/2015 | Noah Rothman
    House Ways and Means Committee Chairman Rep. Paul Ryan (R-WI) promised reporters this week that his committee would not pass any new taxes – oh, sorry, “user fees” – on gasoline. Speaking to reporters at the GOP retreat in Hershey, Pennsylvania on Thursday, Ryan flatly asserted that his committee “won’t pass a gas tax.” He even had the gall to call it a “tax,” which is perhaps the best indication of his sincerity. The former Republican vice presidential nominee recently ruled out a 2016 White House bid and will instead pursue broad tax code reform as the chairman of...
  • Republicans weren't elected to raise the gas tax

    01/16/2015 4:36:57 AM PST · by HomerBohn · 15 replies
    Washington Examiner ^ | 1/12/2015 | Staff
    Politicians and pundits have spent a great deal of time trying to find the precise meaning of the results of the 2014 election. No one disputes that it was a great day for Republicans, but there are still many valid and varying interpretations. But whether the election was a true mandate for the GOP or simply a repudiation of President Obama, voters most certainly did not hand Republicans the U.S. Senate and elect them to a historic House majority so that they could raise federal gasoline taxes. This should really go without saying, but some Republicans are already discussing this...
  • Lifting Fed’s Oil Export Ban ‘Would Add 630,000 New Jobs’ and Lower Prices More (Ted Cruz)

    01/14/2015 12:46:32 PM PST · by 2ndDivisionVet · 25 replies
    CNS News ^ | January 14, 2015 | Phil Kerpen
    The politics of the crude exports issue are confused by a lot of irresponsible reporting. Almost every story on the issue asserts that allowing exports would be politically dangerous because it would supposedly raise prices at the pump, but the claim is never credibly sourced. In fact, every single serious study has found precisely the opposite: allowing crude exports would lower prices at the pump. With Senator Ted Cruz leading the charge on an amendment to end the export ban, some reporters will be working even harder to pretend his amendment is dubious or even destructive. But facts matter. The...
  • Clash Looms Over Fuel Economy Standard, As Consumers Snap Up Trucks, Big SUVs

    01/14/2015 5:27:38 AM PST · by thackney · 43 replies
    Wall Street Journal ^ | Jan. 13, 2015 | MIKE SPECTOR and CHRISTINA ROGERS
    Auto makers are on a collision course with U.S. regulators over the timetable to achieve stringent fuel-economy standards as cheap gasoline sends consumers flocking to less-efficient pickup trucks and sport-utility vehicles. Car companies are laying the groundwork to seek some relief when the targets come up for review by regulators in 2017, executives said at the North American International Auto Show in Detroit. They are in some cases already canvassing the White House, Capitol Hill and regulatory agencies to start lobbying for possible changes to fuel economy standards that take effect in 2022. The mileage targets, known as corporate average...
  • Where to Find the Cheapest Gas in the Country

    01/13/2015 5:34:59 AM PST · by thackney · 51 replies
    ABC News ^ | Jan 13, 2015 | GOOD MORNING AMERICA
    The cheapest gas in the country costs less than a bottle of soda or cup of coffee. A gas station in Tomball, Texas -- Stripes -- is selling a gallon of regular unleaded gas for $1.42 this morning. The price is 62 cents below the national average of $2.14 a gallon, which is among the country’s lowest levels for gas prices in five years. Stations in 45 states are selling gas for under $2 a gallon, according to Gasbuddy.com.
  • Saudi Prince Says We’ll ‘Never’ See $100 Oil Barrels Again

    01/12/2015 8:56:02 AM PST · by 2ndDivisionVet · 62 replies
    Time Magazine ^ | January 12, 2015 | Laura Stampler
    "You better believe it is gonna go down more," Alwaleed bin Talal said.Saudi royal prince Alwaleed bin Talal says in a new interview that the days of $100-a-barrel oil are a thing of the past, as oil prices continue to drop around the globe. Asked by USA Today if prices, recently below $50 a barrel, would continue to plunge, Talal answered: “If supply stays where it is, and demand remains weak, you better believe it is gonna go down more. But if some supply is taken off the market, and there’s some growth in demand, prices may go up. But...
  • Washington’s gas tax guzzlers "maybe motorists won’t notice that we’re gouging them"

    01/12/2015 6:12:00 AM PST · by bestintxas · 35 replies
    wash times ^ | 1/11/15 | s moore
    Suddenly everyone in Washington wants a gas tax hike — apparently so that consumers don’t save too much money at the pump. As prices keep falling, the politicians and the moochers in Washington want a piece of the action. Rep. Nancy Pelosi of California, Sen. Richard Durbin of Illinois and even Republicans such as Sen. Bob Corker of Tennessee have linked arms with the entire road-building industry and green groups that want the cost of fuel to go up.Mrs. Pelosi won’t even hide her cynical motivation: With gas prices low, maybe motorists won’t notice that we’re gouging them: “If there’s...
  • Charles Krauthhammer: The Case for a Revenue-Neutral Gas Tax (. . . and a Social Security-tax cut)

    01/09/2015 8:10:11 AM PST · by SeekAndFind · 46 replies
    National Review ^ | 01/09/2015 | Charles Krauthhammer
    For 32 years I’ve been advocating a major tax on petroleum. I’ve got as much chance this time around as did Don Quixote with windmills. But I shall tilt my lance once more. The only time you can even think of proposing a gas-tax increase is when oil prices are at rock bottom. When I last suggested the idea six years ago, oil was selling at $40 a barrel. It eventually rose back to $110. It’s now around $48. Correspondingly, the price at the pump has fallen in the last three months by more than a dollar to about $2.20...
  • Momentum builds in Congress for raising the federal gas tax - "in thoughtful way"

    01/09/2015 4:13:04 AM PST · by Cincinatus' Wife · 38 replies
    The Hill ^ | January 9, 2015 | Laura Barron-Lopez and Keith Laing
    Record-low gas prices across the U.S. have given rise to fresh talk in Washington of raising the federal gas tax for the first time in over 20 years, with leading Republicans now saying a hike must not be ruled out. The GOP has long resisted calls from business leaders and others to boost the 18.4 cent-per-gallon tax as a way pay for upgrades to the nationÂ’s crumbling roads and bridges. Yet in recent days, senior Senate Republicans have said they want to keep options open and that "nothing is off the table" when weighing the best mechanisms to pay to...
  • As prices fall at the pump, some U.S. lawmakers eye gas tax hike

    01/08/2015 12:32:21 PM PST · by NormsRevenge · 65 replies
    Reuters on Yahoo ^ | 1/8/15 | Susan Cornwell and Timothy Gardner
    WASHINGTON (Reuters) - As U.S. gasoline prices plunge to the lowest level in more than five years, some U.S. lawmakers see a golden opportunity to bump up taxes at the pump to help pay for the repair of crumbling roads and bridges. Fuel taxes have been flat for more than 20 years, starving the Highway Trust Fund of revenue used for rising infrastructure repair costs. Lawmakers have fueled the fund with last-minute short-term injections of cash, but want to find a more permanent fix. Last July, before a similar deadline, Republican Senator Bob Corker of Tennessee and Democrat Chris Murphy...
  • U.S. gasoline prices end 2014 at lowest levels since mid-May 2009

    01/07/2015 5:07:21 AM PST · by thackney · 10 replies
    Energy Information Administration ^ | JANUARY 7, 2015 | Energy Information Administration
    Across the country, retail prices for regular grade gasoline reached the lowest levels in four years primarily as a result of falling crude prices in the second half of 2014. As of December 12, the weekly retail price for regular gasoline in each city for which EIA collects data was below $3.00 per gallon (gal) for the first time since February 2010. Each city recorded its lowest 2014 gasoline price on the last Monday of the year. Each Monday, EIA collects and publishes data on retail gasoline and diesel fuel prices for multiple locations across the country. Retail gasoline prices...
  • Average Gas Prices Drop Below $2.00 per Gallon in Two States

    01/05/2015 6:31:56 AM PST · by Enlightened1 · 41 replies
    (WASHINGTON, December 29, 2014) Average gas prices in two states – Missouri ($1.93) and Oklahoma ($1.98) – have dropped below $2.00 per gallon for the first time since 2009. The national average has fallen 95 days in a row for a total of $1.06, and prices have plummeted $1.38 (nearly 40 percent) since the start of June. The national average price for regular unleaded gasoline is $2.29 per gallon, and motorists are saving 11 cents per gallon compared to one week ago, 49 cents compared to one month ago and $1.02 per gallon compared to this same date last year....
  • John Thune Puts Gas Tax Hike on the Table for GOP Senate(yep,GOP that is really important right now)

    01/05/2015 5:35:44 AM PST · by bestintxas · 28 replies
    breitbart ^ | 1/4/15 | d riehl
    The incoming chairman of the Senate Commerce, Science and Transportation Committee, Sen. John Thune (R-SD) put all options on the table when it comes to replenishing the shrinking Highway Trust Fund, which is widely seen as opening the door to a tax increase. Per an AP report, “Gas and diesel taxes haven’t risen since 1993, resulting in perennial shortfalls in the fund that pays for most road projects”. Several commissions have called for raising the taxes, but Congress has been reluctant. Instead lawmakers have dipped repeatedly into the general treasury to keep the trust fund solvent. The federal gas tax...
  • Why Gas Feels Cheap—and Why It’s Not, Historically Speaking

    01/03/2015 10:08:58 AM PST · by Theoria · 18 replies
    WSJ ^ | 02 Jan 2015 | Jo Craven McGinty
    Recent Price Plunge Looks Good After Years of High Costs, but Fill-Ups Were Less Expensive From 1986-2003 U.S. gasoline prices are the lowest they’ve been in five years. And they feel even cheaper because they come on the heels of the highest gas prices consumers have paid in three decades.In 2012, the national annual average for a gallon of regular unleaded gas—the yardstick for gauging prices—hit a high of $3.77, capping a series of years in which the average exceeded $3 a gallon. Before that, the last time the average was so high was in the early 1980s, when, adjusted...
  • Pump price plunge hits 99 straight days

    01/02/2015 10:59:50 AM PST · by DaveMSmith · 38 replies
    The average price for a gallon of gas has dropped for 99 days in a row, with six states – Indiana, Kansas, Michigan, Ohio, Oklahoma and Missouri – having average prices under $2 for the first time since 2009, according to price surveys Friday. Prices have plummeted about 40 percent since the start of June. Put another way, the Auto Club estimates that Americans are saving $500 million -- per day, each day – compared to the high prices paid last spring, allowing that money to be spent with businesses other than oil companies or just kept in the savings...
  • NC gas tax increase among the highest in the nation

    01/02/2015 6:12:26 AM PST · by thackney · 56 replies
    wsoctv.com ^ | Jan. 2, 2015 | Eric Philips
    Despite tumbling gas prices, North Carolina's tax on gasoline went up starting Thursday. State leaders still said there won't be enough money in the coffers to cover the transportation projects statewide. Fabian Escoto fills up his tank about once a week and word that the gas tax is increasing didn’t rattle him too much. “As long as it's not too much, I don't think it's going to affect a whole lot of people,” Escoto said. North Carolina's tax on a gallon of gas increased by a penny to 37.5 cents – the highest gas tax in the South and one...