Ot: Gas Prices

[Flatbutt1]

my friends in the uk are paying1.5 bps per liter...thats like $3 per liter and almost 12$/gallon. thatll get the hummers off the road and inti your lap where they belong

[lightfighter]

thanks nail. now i have to go to work, and im mad about taxes. all i need is for my ex wife to call me and things will be "perfect" hahaha... you are so right on the automatic deduction theory. can you imagine if they read the odometer and billed you a use tax instead? pepole would freak!!!

[RoLoo]

Originally posted by bitingmosaurus

Premium is @ $3.98 / per gallon in my neck of the woods today...

...living far from a tourism hotspot ; and we pay 5,13 $ for a (US) Gallon...
...Shell V-Power 98...


...at this very moment, that Shell stuff is 1,502 Euro for 1 liter...
...1 liter = 0,264 US Gallon
...1 US Gallon = 3,79 liter

...1 Euro = 1,3539 USD
...so 3,79 x 1,3539 = 5,13...

...robbery

[on2wheels52]

I remember Andy Dunn from Norton rallys in the '80's. He had his bike shipped from England to Ohio (his wife had an assignment at the air base). To use less of that expensive euro fuel he swapped the twin Amal's for a single Mikuni. Also had white index marks on the bar/twistgrip. Did most riding with less than 1/4 throttle.
Jim

[Highlander179]

Originally posted by lightfighter
can you imagine if they read the odometer and billed you a use tax instead? pepole would freak!!!

I would imagine there would be more illegal cars/bikes on the road. Stolen tags, no registration, but I gotta get to work. If the cops see me, Im runnin' and ditchin' the car.

[ErricZ]

Originally posted by BSnyder
Go XOM!!

Why is it that nobody complains when they pay $1 for a 16oz bottle of water? Considering the complete process it takes for a gallon of gasoline to be made I'd say its a relative bargain.

How about $5+ for a "gallon" of crappy, over-burnt/roasted, junk coffee?

[coldstart]

My favorite is the lack of logic in oil prices-- we have refinery problems so the price of oil jumps???

http://www.bloomberg.com/apps/news?pid=20601087&sid=ake1nyUPU0sQ&refer=home

If there are refinery problems the price of gas should go up but the price of crude should go down as less can be used as gasoline.....

[BMWSaint]

Filled up with 93 Octane, $3.48/gallon liquid gold this morning. In the process I learned that oil went up $2/barrel last night. To us that will translate to a 9.5 cents a gallon increase.

I'm in the wrong business!

[Mike Gehl]

Originally posted by Nail24
It's always great to get to SC where the gas is .11 less than GA and .20 less than NC. If people realized how much tax is added on the fuel itself they would revolt. The same goes for the auto witholding for state and fed tax. If they had towrite a check every quarter we'd see some action in the legislatures for a fair tax.

I dunno, Nail - I don't think gas taxes are anywhere near high enough. Income taxes, on the other hand... wouldn't mind seeing the US go to an entirely VAT-based system, and doubling or tripling that rate on petroleum products. OK, we could exempt food and education. Need a Dave Barry-style Common Sense Committe of normal folks with line item veto power on any Congressional expenditures while we're at it too ;-)

I have no problem with everyone's right to drive what they want, but I would like to see a strong economic disincentive to try to restrain that behavior, the crap we dump into the air, and promote the development of more fuel-efficient technologies. It took rising gas prices and emissions curbs to drive the adoption of fuel injection, and for that I'm happy.

I'm all for free markets and limited regulation, but there is no behavior modifier like the pocketbook. We might help ease the supply woes that way as well.

Hell, I even sold my old M-B 300SEL 6.3 due to economic incentives - although that was more due to scarcity driving up parts prices than gas....

Mike

[pmc847]

It's my understanding that the U.S. has enough oil reserves (in the ground) to last us at least 50 years without importing one drop of foreign oil. Of course that is if we had access to it right now. If the last administration would have allowed drilling in Anwar in the mid 90s then that oil would be on line now and our dependents on foreign oil would be vastly reduced and thus most likely lower priced because of the competition. Oh ya, we need a couple more refineries and less custom fuels. Ethanol is not the answer. It's more expense to produce, deliver, is not as efficient as good ol gas and new reports indicate it will pollute as much as gas and maybe more so. Not to mention what it is doing and will do to the cost of food for our table.

I also heard that the middle east produces a barrel of oil for about $3. Who's gouging who?

And we haven't even touch on the subject of federal, state and local taxes on that fine liquid. Today, the combined burden of federal, state and local gas taxes costs American drivers an average of 45.9 cents on every gallon purchased (according to data on gasoline use from the U.S. Department of Transportation). In the last 28 years (1977-2004) oil company profits were $463 billion, fed tax were $533 billion and state taxes were $ 810 billion. Again, who's gouging who?


I think every one should drive an SUV and burn all the gas we can, the sooner it's gone the sooner a viable replacement will be found.

Philip

[Mike Gehl]

Originally posted by pmc847
It's my understanding that the U.S. has enough oil reserves (in the ground) to last us at least 50 years without importing one drop of foreign oil. Of course that is if we had access to it right now. If the last administration would have allowed drilling in Anwar in the mid 90s then that oil would be on line now and our dependents on foreign oil would be vastly reduced and thus most likely lower priced because of the competition. Oh ya, we need a couple more refineries and less custom fuels. Ethanol is not the answer. It's more expense to produce, deliver, is not as efficient as good ol gas and new reports indicate it will pollute as much as gas and maybe more so. Not to mention what it is doing and will do to the cost of food for our table.

I also heard that the middle east produces a barrel of oil for about $3. Who's gouging who?

The oil companies are gouging us. Don't forget the trillion or so we will have spent on the Iraq debacle. For their benefit.

And we haven't even touch on the subject of federal, state and local taxes on that fine liquid. Today, the combined burden of federal, state and local gas taxes costs American drivers an average of 45.9 cents on every gallon purchased (according to data on gasoline use from the U.S. Department of Transportation). In the last 28 years (1977-2004) oil company profits were $463 billion, fed tax were $533 billion and state taxes were $ 810 billion. Again, who's gouging who?

Most of the tax money is ostensibly earmarked for road construction and maintenance (yeah, I know most of that is raided for other pet political projects. As is the General Aviation Fund) . If we wanted to be fair, large trucks should be paying a minimum of 1000x per mile what cars do, according to a highway engineer friend of mine (one who designs and projects usage, not a builder). Maybe a mileage-based tax scaled by the square of the vehicle GVWR?

The Yerpeens sure have some sweet roads, though.

Mike

[DanGreene]

Originally posted by Mike Gehl
The oil companies are gouging us. Don't forget the trillion or so we will have spent on the Iraq debacle. For their benefit.



Most of the tax money is ostensibly earmarked for road construction and maintenance. If we wanted to be fair, large trucks should be paying a minimum of 1000x per mile what cars do, according to a highway engineer friend of mine.

Mike

You got that right. I feel that way especially when I am leaned over in a curve and meet one taking up half my lane.

[Mr. Deltoid]

I saw a Yukon the other day with a "Gas Prices Suck" sticker. This moron driving a land yacht doesn't have a clue.You know they are going to get in your wallet regardless, so you have a choice of vehicles to drive, or ride.Vote with your dollars,buy reasonable transpo.I ride year round, my Georgia weather affords me this luxury.I'm not against gas guzzlers, just don't bit@$ when you get robbed at the pump!!

[pmc847]

What? " Don't forget the trillion or so we will have spent on the Iraq debacle. For their benefit." How do you figure that? Oil production is Iraq was a drop in the bucket before the war (2.6 mbd then, 1.9 mbd now) How does that benefit our oil companies? That oil is owned by the Iraqis not our oil companies. Oil companies own something like 3% of the total reserves. It's the government owned oil companies and reserves that seems to be the problem. Again, they produce the oil dirt cheap and gouge the rest of the world $65 a barrel. OPEC, world demand and the futures market set the price, not the oil companies. Our oil companies have to buy the oil at the market price before the can refine to gas and they are only profiting about 10% per year on all their business.

Of the Fortune 500 list of largest corporations, Exxon Mobil gross profit margin ranked No. 127.

"Most financial institutions, such as commercial banks, are routinely more profitable than Exxon Mobil. For example, Exxon Mobil's gross margin of 9.8 cents of profit for every dollar of revenue pales in comparison to Citigroup Inc.'s 15.7 cents in 2004. By percentage of total revenue, banking is consistently the most profitable industry in America, followed closely by the drug industry.
Altria Group, the maker of Marlboro and other cigarettes, made 22 cents for every dollar of revenue in 2004, and pharmaceutical company Merck made 25.3 cents for every dollar of revenue in 2004.

By other measures, such as profit per employee, return on invested capital and free cash flow, Exxon Mobil is nowhere near a standout."

Quote by Jay Taparia, a lecturer in finance at the University of Illinois at Chicago and an expert on interpreting financial statements

By the way, Microsoft profits are at 32% third quarter 06. 3.14 bil profit on 9.74 bil revenue.

It seems to me that the problem is perception by the public that a large dollar amount profit equals gouging when in fact the oil companies are so big that even a 3 or 5% profit would look gross. Maybe our government shouldn't have approved the merger of the large oil companies, then we might be saving a few cents on a gallon of gas because of competition.

I don't think the oil companies are any more of a problem than a lot of other companies. Can they do better, you bet and so can you and I. I'm more worried about what our own government does to us with taxes, spending, immigration, etc.

I'm retired now, thanks in no small part to my investment in companies that are profitable, including oil companies.

Lets ride.

Philip

[1100s nut]

Like I always tell people, If you want $1 per gallon fuel, triple your gas mileage. Dump the guzzler getting 15 mpg and get a diesel jetta that gets 45 mpg. 1/3 the consumption = about $1 per gal.
BMW makes a great diesel and they are heading this way. The 3 series should get about 40-45 mpg.

Lane

[Mike Gehl]

Yeah, I rented a 530d turbodiesel last year in Europe - fantastic. Was supposed to fly between a few cities (Munich - Milan - Paris) but decided, what the hell - I'll drive instead. Was a LOT of driving, but a lot of fun. Engine like a locomotive up alpine passes. With the hammer down the whole time, I averaged 45 MPG - although they were imperial gallons ;-)

I'm trying to wrap my head around the potential sound of a diesel S bike. It ain't pretty.

For just driving around to the airport, whatever, I drive a direct-injected and turboed VW GTI. On I-70 (which you can't avoid out here) down and up to Denver I average 34 (US) mpg at mostly 80 with the cruise on. A rocket when you boot it. Pulls like a diesel at low RPMs (1600+), although it sounds like a diesel at idle, too.

Lane, I just noticed you drive an 850i V12. Now THAT's a rolling economy rally ;-)

Mike

[1100s nut]

Mike I don`t use MPG and 850 in the same sentence. :-) It avr. 14 mpg. But I only drive it about 1500 miles a year (weekend, good weather car, pick-up diner) I thought the VW diesel got better mileage than 34. Maybe its the 80 mph through the mountains. A buddy of mine (ups pilot) goes to germany some and he rented a 530d like you, he said and loved it, fast and sipped fuel. Came home and bought a 740i. You live in a wounderful place, I get out your way every year to ski, vail village, what a place.

Regards,
Lane

[Mike Gehl]

Lane, the 34 was in a *gas* turbo direct injection, which I think is pretty darned good. At 80, at least. The direct injection part (they call it FSI) makes it sound like a diesel when it idles, and they use a similar common-rail piezo injector system that the most modern diesels use. The advantage is supposedly extremely precise fuel metering and timing.

Wonder what it would do on an S...

So call next time you're in town! This year it's just a giant construction zone.

Mike

[1100s nut]

That is good for a gas burner. I will give you a heads up before I head that way.

Take care,
Lane

[R1100SPORTour]

The true answer to the screwing from those greedy bastards would be what Mexico or Venezuela did.To monopolyze and make the gas companies state owned.Of course that will never happen in the US of A where making a "healthy profit" is a god given right to the few capitalists who benefit.That is why we pay soon $4 a gallon while PEMEX in mexico sells their gas for $2 and the venezuelans pay $0,20...
Same with our "great" medical system but this is another story...