Future Predicted Gas Prices

[bowtieguy]

Originally Posted by Jay2TheRescue

The one thing you're forgetting, is that when the price falls, consumption (and the amount collected in fuel taxes) goes up. If you raise taxes, consumption goes down, and you don't get the anticipated revenues.

-Jay

your point is well taken, however...

if it dips below a dollar, taxes could double and consumption would still be there.

florida is having some serious budget issues, and taxes ARE going to be raised. my hope is that it will be on gas, tobacco, alcohol, etc; rather than sales, income, property, etc.

[bowtieguy]

Originally Posted by Dalez0r

bowtieguy,

I think we're singing in the same choir here. Screw big government, the purpose of the government is to build roads and keep us from killing each other, not regulate every aspect of our lives.

, , and

[Jay2TheRescue]

Florida's fuel tax is already high enough that I don't purchase fuel in the state. I always fillup in the last few miles of Georgia and most often I can spend a week in Florida, and make it back to Georgia before I need fuel again.

It was far easier when Rusty was my DD, because Rusty has dual tanks. On trips in Rusty I'd fillup both tanks in Virginia, then stop at exit 3 in Georgia and fill both tanks again, and then drive all around Florida without purchasing fuel. Its not as easy in The Beast, but I have done it.

-Jay

[theholycow]

Originally Posted by bowtieguy

florida is having some serious budget issues, and taxes ARE going to be raised. my hope is that it will be on gas, tobacco, alcohol, etc; rather than sales, income, property, etc.

I used to think that it was good to raise money by taxing tobacco, alcohol, etc ("sin taxes"), but I've come to realize something: A more common tax (sales, income, etc) is already taxing the few to support the many; taxing the fewer to support the manyer () has limited effectiveness.

[smay665949]

Everyone needs to write your Congresman to let them know we want them to push the development of alternative energy even though the price of gas has gone down!

https://writerep.house.gov/writerep/welcome.shtml

[Kuripot]

Originally Posted by Kuripot

Personally I don't think the world economy can sustain oil prices at this level indefinitely. IMHO the rise has happened to quickly and there's a bubble formed. I predict we see gasoline below the $3 mark again before the summer of 2009. India, Indonesia, and China have been subsidizing oil prices. Other countries have frozen the price of gasoline. They can't afford to continue to do that forever. When they stop, and gasoline goes through the roof in those countries, their economies will suffer significantly and demand for oil and gas will drop as it already is in the US and Canada. Thats when prices will come back down. I believe they will drop after the summer olympics when China cuts back on their subsidies but I'm not sure how much. It just depends on how long these governments can keep the price low in their countries.

What comes around goes around. I'd like to reiterate what I said back in 08. Personally I don't think the world economy can sustain oil prices at this level indefinitely. Just like In 08, prices are rising too quickly and we are at serious risk of another recession.

Kuripot (Kevin)

[bowtieguy]

actually right now the iran "situation" is causing them to rise. back in 08 it wasn't bush's fault and now it's not obama's fault...at least not directly.

the fact is, consumption in the US keeps going down. if it weren't for china and india, we might have seen sub $2/gal again. take war and politics out of the equation, and they would stabilize and gradually drop again.

[Snax]

Originally Posted by bowtieguy

actually right now the iran "situation" is causing them to rise. back in 08 it wasn't bush's fault and now it's not obama's fault...at least not directly.

the fact is, consumption in the US keeps going down. if it weren't for china and india, we might have seen sub $2/gal again. take war and politics out of the equation, and they would stabilize and gradually drop again.

But the conspiracy theorist in me has to wonder if the tensions with Iran are not contrived in collusion with oil insiders. Remember Iran-Contra. It is now public record that Iran specifically withheld the release of the hostages until after the election that put Reagan into office - BECAUSE THAT WAS THE TREASONOUS DEAL THEY WORKED OUT!!!

With that in mind, it is not unreasonable to consider Iran a willing patsy for the same purpose: To make Obama look weak and to hurt the economy through escalated oil futures.

I'm not saying that's what it is, but it would be foolishness to assume that it isn't. Remember, even Ollie North never spent a day in prison for his part, and Dean Baker made sure to insulate Reagan from the whole affair, albeit with his unspoken blessing.

[madnessspirit]

Originally Posted by bowtieguy

actually right now the iran "situation" is causing them to rise. back in 08 it wasn't bush's fault and now it's not obama's fault...at least not directly.

the fact is, consumption in the US keeps going down. if it weren't for china and india, we might have seen sub $2/gal again. take war and politics out of the equation, and they would stabilize and gradually drop again.

You know what bugs me the most about this? Those speculators on the futures market are driving it up for what? Iran's contribution to world oil supply is NOTHING really. But yeah, just like in 08 and the other times gas prices went up, people want to blame the president.

The China and India thing are definitely driving prices up some, but I think even with them there, we should be seeing $2 a gallon gas. Think about this for a minute. 20 years ago, less than 15% of trades on the oil futures market were speculators who would actually never have a use for the crude they are purchasing, and had no way to receive the crude if they were not able to sell it. Most of the trades were by investors who wanted to purchase oil to insulate themselves from fluctuation in prices. Today, 80% of all trades are by people who are engaging in just speculation, who can only make money if they drive the price up.

You wonder where your extra $3 a gallon is going? To the Cayman Islands. I guess in a way, we should blame Obama and Bush. They keep doing all this big government crap to the poor and middle class of this country, but their buds on Wall Street can run rampant through our economy with a book of matches and a can of gasoline. Hope this doesn't lead to another downturn, it has been nice seeing the economy growing, especially since I am only a short time away from going back into the private sector for jobs.

[madnessspirit]

Originally Posted by Snax

But the conspiracy theorist in me has to wonder if the tensions with Iran are not contrived in collusion with oil insiders. Remember Iran-Contra. It is now public record that Iran specifically withheld the release of the hostages until after the election that put Reagan into office - BECAUSE THAT WAS THE TREASONOUS DEAL THEY WORKED OUT!!!

With that in mind, it is not unreasonable to consider Iran a willing patsy for the same purpose: To make Obama look weak and to hurt the economy through escalated oil futures.

I'm not saying that's what it is, but it would be foolishness to assume that it isn't. Remember, even Ollie North never spent a day in prison for his part, and Dean Baker made sure to insulate Reagan from the whole affair, albeit with his unspoken blessing.

Well... The Koch's and some of our other richest people did get together for secret meetings to pledge to bring Obama down...

People's personal politics aside, I don't like living in an America where there are people who can actually think that a small group like them can decide elections, especially since that small group has every reason to think they can. Since that stupid SCOTUS decision in 2010, too many of these elite groups have had TOO much power over politics. Right, left, moderate, I don't care which side you are on, no one should have this kind of freedom to buy elections.

Take the insane amounts of money out of politics. Then maybe we will start seeing REAL Republicans and Democrats instead of what you see in DC today, and maybe you will see politicians who work for you, instead of just work to distract you while some special interest greases their palm.