Oil Slick Stuff

[nnuut]

I'm speechless!

Obama gets tough on fuel economy

The Obama administration is set to announce rules that would create a single CO2 emission standard for cars four years sooner than anticipated.

By Peter Valdes-Dapena, CNNMoney.com senior writer
Last Updated: May 18, 2009: 9:09 PM ET

NEW YORK (CNNMoney.com) -- The Obama administration on Tuesday is set to propose stricter fuel economy standards in an effort to cut down vehicle greenhouse gas emissions.
The plan will require passenger cars and light trucks to get an overall average of 35.5 miles per gallon by 2016, according to a senior administration official with knowledge of the plan. By that year, cars will be expected to average about 39 mpg and 30 mpg for trucks.
Current fuel economy standards are 27.5 mpg for cars and 23.1 for trucks.
http://money.cnn.com/2009/05/18/autos/new_fuel_economy_standards/index.htm

 

[Buster]

Whoopti-doo...I wish he'd get tough on fuel prices that seem to have no ceilings.

 

[nnuut]

Whoopti-doo...I wish he'd get tough on fuel prices that seem to have no ceilings.

He needs the TAX MONEY from the higher prices!!

 

[Buster]

He needs the TAX MONEY from the higher prices!!

Wait a minute...the price of Gas has nothing to do with the amount of federal tax placed on a gallon of gas..I'm of the understanding that a flat .75/gallon is the tax (I'm just using a number to illustrate my point..I don't know what the hell the tax actually is)..So, regardless of what the oil companies charge..example: if gas was $10.00/gallon or $1.75/gallon..the feds would still only get .75/gallon sold..or am I all wrong on this?

 

[wwwtractor]

Http://delicious.com/wwwtractor/invest For gasoline tax information look at first reference or two.

http://www.api.org/statistics/fueltaxes/upload/Gasoline_Map_4_2009.pdf

Prepare to buy your electric car with a generator that runs on vegetable oil which you can get free behind any restaurant or just get an old diesel which will run on straight vegetable oil. That way as you go down the road you will exude the smell of french fries.

http://delicious.com/wwwtractor/biodiesel

 

[nnuut]

Wait a minute...the price of Gas has nothing to do with the amount of federal tax placed on a gallon of gas..I'm of the understanding that a flat .75/gallon is the tax (I'm just using a number to illustrate my point..I don't know what the hell the tax actually is)..So, regardless of what the oil companies charge..example: if gas was $10.00/gallon or $1.75/gallon..the feds would still only get .75/gallon sold..or am I all wrong on this?

This site explains it all:
http://tonto.eia.doe.gov/oog/info/gdu/gasdiesel.asp

 

[James48843]

Wait a minute...the price of Gas has nothing to do with the amount of federal tax placed on a gallon of gas..I'm of the understanding that a flat .75/gallon is the tax (I'm just using a number to illustrate my point..I don't know what the hell the tax actually is)..So, regardless of what the oil companies charge..example: if gas was $10.00/gallon or $1.75/gallon..the feds would still only get .75/gallon sold..or am I all wrong on this?

Federal gasoline tax is 18.9 cents per gallon. Doesn't matter if the gas is 50 cents a gallon, or $5.00 a gallon, Uncle Sam gets a flat 18.9 cents, period.

Each state also levies it's own tax on fuel- some states have only a per-gallon tax (OK is cheap at 16 cents), others have a per-gallon AND a % sales tax on top of that. (Sorry, California..)

Here is the list of each state's tax on gasoline:

http://www.api.org/statistics/fueltaxes/index.cfm

and

http://www.gaspricewatch.com/usgastaxes.asp

 

[Buster]

Federal gasoline tax is 18.9 cents per gallon. Doesn't matter if the gas is 50 cents a gallon, or $5.00 a gallon, Uncle Sam gets a flat 18.9 cents, period.

So I'm not mistaken..thanks BULL..I thought that's the way it worked...So the price of GAS has nothing to do with how much tax is on it Norm...

He needs the TAX MONEY from the higher prices!!

 

[nnuut]

So I'm not mistaken..thanks BULL..I thought that's the way it worked...So the price of GAS has nothing to do with how much tax is on it Norm...

Well I've been wrong before, but still don't like it. :suspicious:

 

[Silverbird]

I like blaming OPEC, the oil companies, and the market having a wrestling match, but I know that's too easy a conclusion.

 

[Buster]

Well I've been wrong before, but still don't like it. :suspicious:

Don't take it too hard...I feel my middle name should be "Most always wrong"..So once in a Blue Moon that I guess right..I like to strut...

 

[Viva_La_Migra]

Each state also levies it's own tax on fuel- some states have only a per-gallon tax (OK is cheap at 16 cents), others have a per-gallon AND a % sales tax on top of that. (Sorry, California..)

On top of that, Governor SchwartzenShriver-Kennedy has nearly doubled the car tax...Which he was elected in a recall vote to repeal! Sometimes I think he really is the Terminator! He's out to kill us through bankruptcy!

 

[CapeChem]

"Federal, State, and local government taxes are the next largest part of the retail price of gasoline. In 2007, taxes (not including county and local taxes) accounted for about 15% of the cost of a gallon of regular gasoline. Federal excise taxes were 18.4 cents per gallon and State excise taxes averaged 21.5 cents per gallon.2 Eleven States levy additional State sales and other taxes, some of which are applied to the Federal and State excise taxes. Additional county and city taxes can have a significant impact on the price of gasoline in some locations"


From the website nuutt cited

 

[nnuut]

"Federal, State, and local government taxes are the next largest part of the retail price of gasoline. In 2007, taxes (not including county and local taxes) accounted for about 15% of the cost of a gallon of regular gasoline. Federal excise taxes were 18.4 cents per gallon and State excise taxes averaged 21.5 cents per gallon.2 Eleven States levy additional State sales and other taxes, some of which are applied to the Federal and State excise taxes. Additional county and city taxes can have a significant impact on the price of gasoline in some locations"


From the website nuutt cited

Thanks CC, at least I wasn't ALL WRONG>:cheesy:

 

[nnuut]

Someone needs to WITCH SLAP this Todd Turner guy!!!:nuts:

Gas prices: The key to fuel economy

As President Obama announces tough new fuel economy rules, experts wonder if low gas prices will keep consumers away from efficient new vehicles.

By Peter Valdes-Dapena CNNMoney.com Senior writer
Last Updated: May 19, 2009: 2:24 PM ET

NEW YORK (CNNMoney.com) -- New fuel economy rules announced by President Obama Tuesday have already gained support from major automakers, but the challenge will be getting consumers to play along, especially if gas prices remain relatively low.
The Obama administration estimates these rules will add about $600 to the cost of a car. That's on top of an estimated $700 added by changes to fuel economy rules that have already been enacted. All this may keep consumers from buying a new car, some say.
http://money.cnn.com/2009/05/19/autos/fuel_economy_challenges/index.htm?postversion=2009051914

 

[nnuut]

Oil touches 6-month high above $60

Higher stocks, talk of reduced inventory help bolster June contract on last day of trading.

By Catherine Clifford, CNNMoney.com staff writer
Last Updated: May 19, 2009: 2:55 PM ET

Click on the chart to see other commodity prices.

NEW YORK (CNNMoney.com) -- Oil rose Tuesday, although it eased from an earlier six-month high over $60 a barrel, as investors digested a tepid advance on Wall Street and waited for a supply report expected to show a dip in inventories.
Light, sweet crude for June delivery rose 62 cents, or almost 1.1%, to settle at $59.65 a barrel Tuesday. It had reached as high as $60.48 a barrel earlier in the session.
Prices were jumpy on the last day of trading for the June contract. The July contract, which will be active beginning Wednesday, was up 47 cents at $60.06.
Oil touched $60 a barrel one week ago. But it has not traded at $60.48 a barrel since early November, more than six months ago, as the recession has curtailed demand. [more]
http://money.cnn.com/2009/05/19/markets/oil/index.htm?postversion=2009051914

 

[James48843]

Originally Posted by Buster
Gas went down .10 overnight...So what happened to the "summer travel time" thingy

Well Buster, I think you jinxed it.

On my way home tonight- gas prices have jumped UP a DIME since this morning.

 

[mick504]

I don't think people are taking the usual trips they have in the past. Too much worried or at least concerned about everyday living.

 

[eccougar]

Gas prices jumped from $2.16 to $2.45 in SW Ohio.

 

[nnuut]

Brace yourself this is going to leave a mark!!!!:nuts: