Gas Prices^

[libertyforall1776]

Gas Prices have gone up $.26 locally in less than a week -- that's a big jump, and projected to go higher...


Reports say that oil producing nations in the middle east with other nations have a project to transition off trading oil in US Dollars over the next 7 yrs... Who knows what that would do to oil prices.

Robert Fisk: Countries Holding Secret Meetings To Replace the Dollar | Colonel6's Blog

The demise of the dollar - Business News, Business - The Independent

[HumanWiki]

I'm looking forward to being asked to pity the Oil Company execs again as they suffer through rising barrel costs and record profits simultaneously. I really pity them making the sacrifices they have to make to keep those billion dollar numbers. We should really cut them some slack..

/s

[libertyforall1776]

They should start drilling in Montana and the other areas where they are just sitting on all kinds of known US oil reserves. Sad thing is, they won't likely do that until oil is $200/barrel. Apparently there's a deal from many years ago with middle east oil producing nations where they buy our T-Bills, in exchange for us not drilling our reserves...

BUT, THIS guy has a SOLUTION to get us off oil! Amazing -- Water powering engines and metal-cutting torches! 2 minute video:

http://eric-1776.posterous.com/water-power-must-see-this-2-minute-video-clip

[Xello]

We only get about 9% of our oil from the Middle East these days. We get stuck with the higher prices because other nations mooch off of our suppliers. Although for this season it has nothing to do with shortages only speculation. I HATE speculation!

[SSZL575]

^ exactly!!!

[huggerorange73]

I hate it too....but here's the options.

1. Pay the price at the pump and keep driving.

2. Admire car sitting in garage because you won't pay the price at the pump.

I'll go with option 1.

[TonyNo]

Tell it, brother, tell it!

[cab2g]

speculation sucks. But I bought this car knowing that gas prices could easily reach the $4 range in the near future. So I'll still smoke my tires. This car is worth it! But if there was a readily available alternative fuel to put in a combustion engine, I'd be all for it.

[libertyforall1776]

Supposedly it has to do with European countries that normally get a lot of oil from Libya, and now they have to get more of their oil from other nations squeezing supply for us and others... The speed of rocketing prices, has to be more about spectators, right?

Crude Oil and Total Petroleum Imports Top 15 Countries

Crude Oil Imports (Top 15 Countries)
(Thousand Barrels per Day)
Country Dec-10
CANADA 2,064
MEXICO 1,223
SAUDI ARABIA 1,076
NIGERIA 1,024
VENEZUELA 825
IRAQ 336
ANGOLA 307
BRAZIL 271
ALGERIA 262
COLOMBIA 220
ECUADOR 192
RUSSIA 158
KUWAIT 125
UNITED KINGDOM 124
ARGENTINA 85

I think that salt water engine is the future -- that stuff is really cool, here's another video clip:

SALT WATER AS ENGINE FUEL ! / SHORT CLIP - Liberty's posterous

We only get about 9% of our oil from the Middle East these days. We get stuck with the higher prices because other nations mooch off of our suppliers. Although for this season it has nothing to do with shortages only speculation. I HATE speculation!

[libertyforall1776]

Gas up again today, now $3.559 near me, before these jumps it was just $3.17. That's a rise of ~$.42 in less than two weeks!

Time for government to lower taxes on gasoline, did you know it's about $.85/gallon just in taxes in Illinois (and CA, NY, HI)!? Compare that to the national average in the rest of the States of ~$.50/gallon!

In the meantime, get the GasBuddy app for your iPhone or other smart device...

http://gasbuddy.com/

[Xello]

Actually, IL state gas tax is only $0.19 per gallon. The WI state gas tax is $.309 per gallon. Plus we have a stupid law in WI that raises the price of gas artifically because it doesn't allow retailers to compete.

Here's a map of average gas taxes by state including local taxes. Of course the Chicago area is higher than the IL state average because of the high county and city taxes added on.

[libertyforall1776]

I was referring to total taxes per gallon. In 2004 it was ~$.59/gallon:

http://www.illinois.gov/gasprices/docs/Primer-gas.pdf

The $.19 in IL is NOT all the tax you pay at the pump! You have to add 6.25% sales tax and .3% tax for underground storage tank fund, and other local sales and gasoline taxes -- ends up being about 1/4 of the price of a gallon of gas.

Today it is $.612/gallon in just total State plus Federal Excise Taxes, not including local county/city taxes, as of 1/11/11.

http://www.api.org/statistics/fueltaxes/upload/State_Motor_Fuel_Excise_Tax_Update.pdf

I guess the $.85/gallon tax quote I saw on Fox Business Channel could be a little high, unless they are including some other hidden taxes on gas.

What we need is an Illinois Gas Tax Suspension:

http://www.illinoispolicy.org/uploads/files/Gastaxmoratorium_finalprint.pdf

Actually, IL state gas tax is only $0.19 per gallon. The WI state gas tax is $.309 per gallon. Plus we have a stupid law in WI that raises the price of gas artifically because it doesn't allow retailers to compete.

Here's a map of average gas taxes by state including local taxes. Of course the Chicago area is higher than the IL state average because of the high county and city taxes added on.

[libertyforall1776]

Judge Andrew Napolitano covers the real reasons gas prices are spiking, video:

[ame=http://www.youtube.com/watch?v=qjwE2KC0zPQ&feature=player_embedded]YouTube - Freedom Watch - Just Another Shakedown 3/7/2011[/ame]

~18% is tax at the pump.

[Toasty]

What we need is an Illinois Gas Tax Suspension:
http://www.illinoispolicy.org/upload...finalprint.pdf

With our state's current fiscal situation, that is not gonna happen

[Blackhawk]

Paid $61 today for 93 octane. Then I drove it like I stole it. Felt the car wiggle on an aggressive turn with the nannies on. On a side note, I received my Cubs plates for my DD to go with my BH plates on the Camaro.