Fuel at $1.50 per gallon

[colemj]

Ironically, my best investment in the past year was filling my diesel tank before putting the boat away for the winter.

Wish I would have filled the swimming pool...

Mark

[ireaney]

Originally Posted by David M

Are the British people powerless to force their politicians to reduce their enormous taxes on fuel? Where does all this tax money go?
Ireney, I just paid $4.68/gallon for Diesel at the fuel dock. $1.50/gallon is not a realistic price for Diesel anywhere in the States. At the gas pumps for cars, it is roughly around $4/gallon. The federal tax on diesel is is 53.6 cents per gallon and the state taxes average around 29.2 cents per gallon.
.

Hi David
I sometimes wish we were more like the French who will take action to force their government to back down, but as we all know the Brits don't like to complain, we all talk about it in the pub and then do nothing - how sad are we!!!
As far as where does it go - I have to be careful here otherwise I could get into trouble - but our government love wasting money, I could go on for hours but I won't, one example - Asylum seekers and immigrants - our government will give them housing, money, free driving lessons and then some money to buy a car to go to job interviews - allegedly
Our Petrol your Gas, prices in the UK are about $9.00 per gallon, not much less than Diesel, I think the tax on fuel in the UK is about 88%.
I could go on for hours about our extortionate prices and cost of living but I don't want to depress myself any further or bore the pants off everybody else.
Cheers
Ian

HENCE THE REASON I PLACED AN ADVERT IN THE CLASSIFIEDS FOR A FREE CATAMARAN, BECAUSE AT THE RATE I AM BEING TAXED I WONT EVEN BE ABLE TO AFFORD SOME PAPER TO MAKE A PAPER BOAT

[AnchorageGuy]

Originally Posted by ireaney

Hi David
I sometimes wish we were more like the French who will take action to force their government to back down, but as we all know the Brits don't like to complain, we all talk about it in the pub and then do nothing - how sad are we!!!
As far as where does it go - I have to be careful here otherwise I could get into trouble - but our government love wasting money, I could go on for hours but I won't, one example - Asylum seekers and immigrants - our government will give them housing, money, free driving lessons and then some money to buy a car to go to job interviews - allegedly
Our Petrol your Gas, prices in the UK are about $9.00 per gallon, not much less than Diesel, I think the tax on fuel in the UK is about 88%.
I could go on for hours about our extortionate prices and cost of living but I don't want to depress myself any further or bore the pants off everybody else.
Cheers
Ian

HENCE THE REASON I PLACED AN ADVERT IN THE CLASSIFIEDS FOR A FREE CATAMARAN, BECAUSE AT THE RATE I AM BEING TAXED I WONT EVEN BE ABLE TO AFFORD SOME PAPER TO MAKE A PAPER BOAT

Ian, are we talking about the UK or the US? Must be related

[David_Old_Jersey]

Originally Posted by colemj

I think it is to personally screw with me. Every year I think the Japanese economy has bottomed and shows signs of turnaround and I invest more in their market. Every year the Central Bank catches wind of my investment and deflates.

Made me smile that

One of these years, I will teach them...

Yeah, gotta have a plan


My response to the thread in general......

Oil price conspiracy? Of course not. It is a coalition of vested interests in not rocking the boat and liking high oil prices.

Of course their has always been speculation in oil futures that affect the price, and this does peak and trough as Oil comes in and out of fashion as an "investment" (or more accurately a way of speculating for profit).....at the moment it is seen as a bit of a one way bet....mmmmm another bandwagon / bubble.......I am sure that will turn out well

Supply and Demand? Of course this is a part of the Oil Market, but not the whole story. I have yet to hear any convincing stories on a large enuf scale about people / a country / an industry saying to themselves "Oil is just too expensive at USD100"......"I will stop buying it or cut down radically" that would explain - on a supply and demand basis - why the oil price is now USD100 and no longer USD30. The same oil (if not a bit more) is going out from the same holes in the ground (+ /-) to the same places (if not a few more).

But look on the bright side folks.........."Johnny Foreigner" has "our" () Oil......if Bill Gates had it all we would be paying USD100 a pint. And yer car would probably stop every now and again for no particular reason

For a Capitalist Society to really prosper, yer want all 3 "magic" ingredients........Cheap Energy, Cheap Labour and Cheap Capital.....IMO both America and Britain are kinda struggling at the moment on all of these.......

[DeepFrz]

Of course their has always been speculation in oil futures that affect the price, and this does peak and trough as Oil comes in and out of fashion as an "investment"

Check the 6 year chart. There are some peaks and dips but the trend in clear. And that trend has been clear to me for as long as I can remember.

Historical gas price charts - Edmonton Gas Prices

[David M]

If oil were artificially high there would be a glut of oil on the market...and there isn't.

[ssullivan]

Originally Posted by colemj

Ironically, my best investment in the past year was filling my diesel tank before putting the boat away for the winter.

Wish I would have filled the swimming pool...

Mark

He he he... this is classic.

[cat man do]

Has anyone figured out how many litres of petrol you could buy 20 or 30 years ago on the average wage compared to how many today?

That may be interesting

Dave

[anotherT34C]

Originally Posted by David M

If oil were artificially high there would be a glut of oil on the market...and there isn't.

Hi David, I don't think it's a one-or-the-other situation. Looks to me like high demand, short refinement supply, and an energy futures bubble. In all cases, I don't think we'll be seeing cheaper oil/gasoline/diesel. Nor should we really want to, IMHO. Why put off the inevitable?

Our energy needs are spiking so fast (and this is a good thing!) that pretty soon it is going to become obvious that only one thing (baring some breakthrough technology) will cover our needs, and it isn't dead dinosaurs. I strongly suspect that within 50 years, nearly all of our energy needs will be met via fission.

[Alan Wheeler]

[Quote]50 years, nearly all of our energy needs will be met via fission.[Quote] Nup. Even that is going to become a Dinosaur. Fusion will be the way of the future. About 30 maybe forty years from now. The first Fussion Reactor is being built right now in France. Well not the first. But the first that will actually produce more energy than it takes to make it. It will produce about 500MegW with about 50MegW input. It will take about 10yrs to complete the plant. The vision is they will then take another 10yrs to work through all the issues that will arise and then about another 10yrs to see a full scale commercial power plant built. The biggest hurdle so far has been money. A budget of US$56Billion dollars is being sunk into it. Several countries have pulled together to finance the project.

[Steve Rust]

Originally Posted by Pblais

Sorry Chuck, this scam has been floated for too long now it's at least 2 years old back when gasoline was $1.25. If the value of the US dollar returns the price will tumble. The speculators will cry and jump off balconies

Paul has a good point here. The Oil Cartels price the oil in U.S. dollars. The value of the dollar drops and they have to raise the price. This is not the only reason. We have increased global demand coupled with limited refining capacity. Bush's adventure in Iraq that has threatened to destabilize the Middle East is a huge part of it. And of course we have a bit of greed on the part of the oil companies. A Perfect Storm one could say.

Trying to get huge numbers of people to join in some type of boycott is like herding cats. I can alter my own behavior but I can't control what others do. I just try and use a bit less. This last weekend I got home on Friday and did not get back into my car till Monday morning. Lower your carbon footprint, to borrow one of the latest eco buzzwords.

[Robertcateran]

Increased demand, peaked supply, a country addicted to cheap oil, meddling in the middle east and destabilising supplies. Its a no brainer. On your bike, or sail away.
Robert

[Alan Wheeler]

Limited Refining is only limited in that particular country. The price hike is on Raw Crude oil. That is before it gets to the Refining stages. NZ buy's it's Oil from Dubai through Singapore. We have two prices listed on the NZ Stock market. West Texas Crude, which is the one going through the roof at the mo, and Brent oil. I don't know why our fuel goes up because West Texas crude goes up. That part I simply can not work out.

[Ex-Calif]

Originally Posted by Steve Rust

. This last weekend I got home on Friday and did not get back into my car till Monday morning. Lower your carbon footprint, to borrow one of the latest eco buzzwords.

For a bunch of guys whose boats are powered by wind you sure are spending a lot of time talking about gas?

Ok so I'll play too - LOL

Here's Exxon's stock price and balance sheet. Don't like Oil prices? Protect yourself by buying Exxon stock. If you tossed in $1,000 bucks in 2004 you'd have about $55k to spend on oil today.

EPS at over 7 bucks is pretty sporty too.

What people always lose sight of is that Oil companies in the US are public companies - There isn't some fat bastard getting rich on this. According to Exxon's data there are about 5.5 billion shares outstanding. Quite a few people are riding this wave.

The issue is simple - Oil is a natural commodity. We are addicted to it. The industry and infrastructure tied to oil goes way beyond your car. It's ingrained in every single advanced society and no one can see an alternative. However, it's running out. There will be wars fought over the last scraps of it and then we will all use hydrogen and nuclear power.

In the meantime buy oil stock...

[cat man do]

Originally Posted by cat man do

Has anyone figured out how many litres of petrol you could buy 20 or 30 years ago on the average wage compared to how many today?

That may be interesting

Dave

OK, I asked the question and had no reply so I went and did some homework as fuel prices here just jumped 10c/litre between when I went into a shop and came back out to fill the car up.



Deleted info

My stats may be incorrect, I have a stats expert mate checking my sources and results.

back soon



Dave