RKMBs Forums .::Important::. Politics and Current Events Who's to blame for higher gas prices?

Taxes, including federal and local, account for about 31 percent of the total price of gas in the United States. Federal excise taxes are 18.4 cents per gallon, and state excise taxes average 20 cents per gallon. There may also be some additional state sales taxes, as well as local and city taxes. In Europe, gas prices are far higher than in America because taxes on gas are much higher. For example, gas prices in England have risen as high as $6 per gallon, with 78 percent of that going to taxes.

Gas prices also vary from state to state for several reasons. Taxes are probably the biggest factor in the different prices around the country.

what does mr. obama recommend be done about elevating gas prices? tax the oil companies more?

And if Bush just put 10 billion barrels of oil from the reserve into the market....

And if Bush just put 10 billion barrels of oil from the reserve into the market, prices "should" drop significantly. But he had to pay for Jenna's wedding somehow, didn't he?

Oil can be pumped from the Reserve at a maximum rate of 4.4 million barrels per day for up to 90 days, then the drawdown rate begins to decline as storage caverns are emptied. At 1 million barrels per day, the Reserve can release oil into the market continuously for nearly a year-and-a-half.

omg, do you really believe that will solve anything? according to CIA World Fact Book, we have about 21billion
barrels proved reserves on hand.

http://www.fossil.energy.gov/programs/reserves/spr/spr-facts.html


we consume 9,253,000 barrels/day (388.6 million gallons/day) gasoline per day.

so you think that releasing, what are essentially emergency reserves, that will last us about 3wks is going to have any measurable affect on the economy?

I say tough shit. people are and should just have to scale back their consumption to keep pace with rising prices. overindulgence, greed and laziness made their bed, now they have to lie in it. by that i mean the american populace.

So much for G-man's point of information about one billion barrels.

# Highest inventory - On April 2, 2008, the SPR inventory exceeded 700 million barrels, the highest level ever previously held. The former record was reached in late August 2005, just days before Hurricane Katrina hit the Gulf Coast, causing the SPR to conduct emergency releases. Repayment of the Katrina loans and resumption of the RIK program (in 2007) has restored the inventory to its former level and beyond.
# Current storage capacity - 727 million barrels

I wonder if Whomod's Insurgency friend (or it could be Whomod himself; I neither know nor care) actually believed that "21 billion" nonsense or if he was actually trying to make a parody out of himself.

Yeah, G-man was totally wrong about having one billion barrels in the strategic oil reserves. We only have about 703 million and we don't even have the capacity for one billion.

I wonder if Whomod's Insurgency friend (or it could be Whomod himself; I neither know nor care) actually believed that "21 billion" nonsense or if he was actually trying to make a parody out of himself.

So much for G-man's point of information about one billion barrels.

Who's to say this link is anymore valid then the one posted before?

I have no idea what the other link is using as it's mode of collecting information. It seems it may be based on capped oil wells and their estimated capacity rather than actual barrels of oil held in the strategic reserve as the number I've shown indicates as it's actually from the gov. agency responsible for such counts. It's also closer to the number given in recent AP articles.

* June 2006 - exchanged 750 thousand barrels of sour crude with ConocoPhillips and Citgo due to the closure for several days of the Calcasieu Ship Channel to maritime traffic. The closure resulted from the release of a mixture of storm water and oil. Action was taken to avert temporary shutdown of both refineries.
* January 2006 - exchanged 767 thousand barrels of sour crude with Total Petrochemicals USA due to closure of the Sabine Neches ship channel to deep-draft vessels after a barge accident in the channel. Action was taken to avert temporary shutdown of the refinery.
* Sep/Oct 2005- exchanged 9.8 million barrels of sweet and sour crude due to disruptions in Gulf of Mexico production and damage to terminals, pipelines and refineries caused by Hurricane Katrina.
* Sep/Nov 2004 - exchanged 5.4 milliion barrels of sweet crude due to disruptions in the Gulf of Mexico caused by Hurricane Ivan.
* Sep/Oct 2004 - exchanged 5.4 million barrels in response to physical shortages of crude oil supplies in the Gulf of Mexico following Hurricane Ivan.
* Oct 2002 - exchanged 296,000 barrels with Shell Pipeline Co. to secure Capline storage tanks in advance of Hurricane Lili.
* Sep/Oct 2000 - exchanged 30 million barrels in response to concern over low distillate levels in Northeast.
* July/August 2000 - exchanged 2.8 million barrels of crude oil for 1st-year tank storage and stocks for 2 million barrel Northeast Home Heating Oil Reserve.
* June 2000 - exchanged 500,000 barrels each with CITGO and Conoco, due to blockage of the ship channel that allowed incoming crude oil shipments to those refineries. Action taken in order to avert temporary shutdown of both refineries.
* August 1998 - exchanged 11 million barrels of lower quality Maya crude in SPR with PEMEX for 8.5 million of higher quality crude (more suitable for U.S. refineries)
* April/May 1996 - exchanged 900,000 barrels of SPR crude with ARCO to resolve company's pipeline blockage problem.

umm, you do realize that there are several locations which can hold reserves, right? i mean, if you don't want to take what the CIA says, fine by me. frankly i was disappointed to know there might be 21billion on hand. actually, i'd rather there was only 700million or so barrels as that paints an even worse picture of the situation we are in. which is good, to my view. the sooner the economy collapses, the better. going by the daily consumption rate, we'll blow through the reserves in less than 2 days.

I know you're trying to make a back-handed comeback in covering up the fact that your link is dated more than 2 years ago, but your attempt to sound anarchist just makes you look even more pathetic. Sorry.

I'm more in favor of the government staying out the business of citizens private or otherwise.

I'm more in favor of the government staying out the business of citizens private or otherwise.

Probably because a lot of (though certainly not all) "anarchists" claim to want anarchy only to the extent it doesn't interfere with the prompt delivery of public services, the regulation of business and government handouts.

No. I think some socialists confuse themselves with anarchists. They listened to the Sex Pistols, thought it was "cool" and desclared themselves "anarchists," while still demanding what boils down to socialism.