I just thought you would like to know what we pay here in the UK.
I pay £0.94 per litre. There are 3.78 litres in a US gallon, ie £3.55 per US gallon. When converted this means I pay $7.04 per gallon.
I don't use my car very much any more.
Incidentally, we pay more or less the same here for a barrel of oil. All the extra we pay goes in tax to the government.
Don't whine about gas prices. You are only paying $3.00 a gallon. What a bargain. The actual price of gasoline is (if you believe Dick Cheney) $15.00 a gallon or (if you believe The national Resource Council) $25.00 per gallon.
You are paying $3.00 a gallon at the pump and the remainder in the form of income taxes. In other words, MY INCOME TAXES, which are subsidizing your driving habits. And I"m pissed off about that.
Besides, gasoline is a 19th century technology. We don't use buggy whips anymore, why the F are we using gasoline to get from point a to point b?
Commodity ETF's are sold to both Democrats and Republicans. You can invest directly in the market by going to the i-shares site, or your brokerage firm and you can buy a share that gives you the same advantage in multiples of about $50. if you want to speculate on commodities.
The reason that prices are going to rise so quickly in America is because the dollar is sinking rapidly. This decline is brought on by our uncontrolled spending (you mention gas, demand is rising in the U.S. faster than price ), and an inability to control "something for nothing" programs where people vote themselves new, unfunded benefits payable from "the government". The only problem is the government has no money. Its reserves are about the same as Norway.
The most recent example of a "something for nothing" program is Medicare Part D (see the Financial Report of the United States) will cost about $6 trillion.
You do realize that the US consumes 20,000,000+ barrels of oil a day. That works out to 306 billion gallons a year. Assuming Chenney is right about $15 per gallon that would mean the government is subsidizing, through our taxes, over 4 trillion dollars for gas a year. Considering the ENTIRE US budget isn't even over 3 trillion dollars yet I don't see how the $15/gallon is even close to being a possibility, even 10% of that would be hard to figure into the budget.
Maybe Chenney and the National Resource Council should redo their math. Then again if they are making it work in the budget $15-$25 per gallon why not just bump it up another $2 and let gas prices drop to about $1 per gallon.
So the pork programs that congress routinely pass through are "something for nothing" programs, that we shouldn't worry about because we only have the reserves of Norway and therefore won't be funded?
Publiccomment don't ya think it is time for Congress to be responsible for staying within their budget and stop raiding social security and medicare? Also shouldn't they be truthful about where our social security tax is really going? When anybody suggests reform in social security they scream that the old folk will lose the money they put into it, when in reality their money was stolen long ago by Congress.
You posted: " Then again if they are making it work in the budget $15-$25 per gallon why not just bump it up another $2 and let gas prices drop to about $1 per gallon".
Well, then that would double the amount of gasoline used, which would double the amount the US government subsidizes, which would double the amount of debt attributable to this single item.
Why not just be happy that you are getting a bargain at $4.00 and that other people are dying to give you that bargain?
So the US government subsidizes anywhere from $12-$27 per gallon? Where are they finding all the money to do this? You did read my post where I said it would cost the government over 4 trillion a year to meet the low end of that, right?
Also tell me how are people dying to give me oil at that price?
Why can't the media be honest. Are they just lazy in their reporting or do they have an agenda. I say they are DISHONEST, LAZY, and have an AGENDA. Of course it must be Bush's fault too.
Adjusted for inflation, the price of gas per gallon is still lower than it was in 1981. Charles Gibson and his fancy graphic states as fact that "gas prices have never been higher than they are right now." It is a LIE!USA Today also sensationally reported that "Gasoline prices top post-Katrina record." At least they mentioned prices were still shy of 1981's actual record highs. This country is so spoiled we have no idea. Fill the gas tank of a Ford Expedition in England or Germany and tell me how you like the price.
I am not an expert at this Gas stuff, however I did meet a girl at work who is dating a collegue of mine and she works with some gas owners~big wigs somewhere~ She states that they are laughing themselves to the bank on gas issues. By the time I finished my lunch talking about that issue with her I was so ticked off to know that those so called big wigs don't give a two hoots as to working class people. If gas rose to 5 dollars a gallon they know people have to buy it. They don't give any cares to what we working people really think and that pretty much was the bottom line and here they have a girl working for them and bashing them right behind their faces... Amazing... money can do all kinds of things to people........needless to say if I can walk and use less gas I do... and if there was a way to change from oil~gas I don't think our government would do much about it anyhow~ and to say corn for fuel would raise other prices, no they just want the almightly dollar in their pockets and will figure out a way to blind side anyone to get it. It is amazing that the State of Michigan is cutting childrens funds to make way for balancing a budget yet they won't cut 20% or even 10% from their own wages because they get paid tooooooo much~like that raise they gave themselves awhile back? That's part the problem there. No politician is worth that kind of money! I know working class people that can handle money better than they think they can. Huh and boycotting it won't do a bit of difference. People have to work. As one senator once told me, It is the republican who gives the poor jobs. Hmmmm I'll add and takes away the food a mother needs to feed her young......lol Of course this is my measly opinion~and what do I know......
It is the Republican that gives the poor jobs? Since when did the Republicans corner the market on paying minimum wage to it's employees? You do realize there are democrats who run businesses and farms that pay minimum wage to their employees also.
Let me guess this senator was a democrat?
everyone in the states EVERYONE mom dad children all take a week any week off from anything i mean the whole country at once shut all of the united states down for a week no shopping no driving to work no school bus rides no anything
no tax revenue going in to the goverment AHHHHHHHH WE WILL SEE WHICH MOUSE COMES TO THE TRAP
I AM A BRICKLAYER SO YOU KNOW I CANT AFFORD IT BUT I AM WILLING TO GIVE IT A WHIRL
JUST HAVE TO GET THE REST OF THE STATES TO PICK A WEEK SO WE ALL TOGETHER ON IT
So being the big wig you are in your think tank what do you see filling the gap once the capitalists are removed? Socialism? Communism? Anarchy?
In this revolution anybody with wealth will be plundered or is there a formula for determining who keeps the wealth they have?
What has been the increase in gas prices for the rest of the world??
If the US is gouging us, what is happening in the other countries? Percent increase per day, week, month, year?
Tell us Gibson
Your comment was not quite accurate. Two of the five largest oil fields in the continental U.S. , fields that originally held one-half billion barrels of oil or more, are located in Kern County, California. One is the Midway - Sunset field, located under and trending north east for twenty miles below Taft, California. It comprised the strategic petroleum reserve for the United States Navy, from its discovery by Standard oil in the early part of the twentieth century, through the second world war, until it was taken over and opened up, allowing sale of it's oil after the first opec oil embargo in the 1970's by Chevron Oil.
The second Kern County oil field is under Bakersfield, forty miles due east of Taft. Together, these two fields provided more mineral wealth for Kern County than any other County in the U.S. for more than fifty years. In the U.S. petroleum industry, Kern County was known as the county that laid the golden eggs. Both field are still being worked with enhanced recovery techniques, but they are nearing depletion and their yields are down to about 10% of there best production rates.
There are also several oil fields spread through out California, though not as large as the two in Kern County. California has provided an enormous amount of oil over the years. The Midway - Sunset field alone provided all the oil used by the U.S. Military in the Pacific theater during the entire second world war.
Not too bad for such a selfish bunch of West Coasters.