Now it is about ninety-five pence per litre.
I still think we should bring back the horse and cart, donkey, whatever.
US fuel price breakdown: http://auto.howstuffworks.com/gas-price1.htm
I think fuel taxes are most justified when they finance (in the US at least) state highway construction & maintenance, like a "user fee." This presents a problem with electric vehicles, however. But I'd rather the states got the revenue than the Feds. I now believe that Ike's Federal-Aid Highway Act of 1956 was an error, for several reasons.
I do find fascinating how immediately gasoline prices escalate following oil price increases. (even if the latter were based on future potential events which seldom develop, and when they don't, the price remains up anyway) But when the oil price drops, the lag is long, isn't it? Either nothing, or very little happens to the gasoline price. If this is supply and demand, it's a lopsided version of it. Must be the demand for money exceeds the supply of integrity.
1 barrel = 42 US gal. Fed excise tax is $.184/gal; states may impose additional duties. Do the arithmetic to see how much oil cos. really get at current prices.
AnonymousB wrote:$1.66 AUD per Litre, which is $5.85 USD per US gallon
Aussie wrote:AT the moment I am paying about $7.00 a gallon for my petrol. You yanks have had it good for years and showed little concern about how much gas you used because it was a cheap commodity. It seems to me that it is the "I'm alright jack syndrome". It does hurt to be screwed by greedy people, and I think enough is enough. Lets fight back by using LPG. Don't get me wrong, I love Americans, If you took them out of the world a great vacuum would exist for all sorts of evil powers to dominate. Americans and Aussies have always helped each other, let us continue on in that brotherhood.
I agree that Australia is one of our greatest allies, but my friend please do not forget that the production of gasoline on the largest scale began here in America, and of the better part of the twentieth century we were selling our oil when the Arabs were milking camels in the desert and when gas was 25 cents/gallon because it was "so plentiful". As you can see, the Muslims are not so generous, and they will be even less generous as their supplies of oil dwindle.
I apologize if I came across as rude because I did not respond to your comment but as before on this site and others that I have left comments, I did not want it to turn into a polemic merry-go-round because I simply do not have the time to interact. Blogging and interacting on the internet is indeed time consuming.
So in response to your comment on 4/17 @ 11:49 am, I will leave this:
You are correct in saying no one knows for sure the reserve estimates but I will say that the earth's crust contains only so much oil that can be extracted for a (and here's the operative word) "reasonable cost",that even no amount of money or brain can change that fact and the reason the oil industry needs all the technology is because oil is becoming more difficult to find and extract. And yet all our technology has been unable to prevent the decline in US oil production over the past 30 years.
Money and brains cannot repeal basic geological laws. Since there is only a finite number of economic oil patches in the world, global oil production must eventually decline.
Without cheap energy, our civilization would be unable to sustain itself much above the 19th century. We no longer have an infrastructure that works without cheap oil.
The common phrase "a man's gotta do what a man's gotta do" is to the working man justified as he weighs the profitability: but all things in this world (even at their best state) are dung to be forsaken compared to the liberty we are called with in Christ Jesus.
Now we have food crisis due to shortages around the globe due to not only demand but high gas prices for fuel to transport that food and a shortage of wheat and corn from ethanol production. Rice has nearly doubled.
I read in the Economist that Brazil was the latest country to find oil. Rio Je Janero (I think I spelled that right) was the exact place. Apparently this puts them as an oil producing country on par with Saudi Arbia and Venezuella. But Venezuella's oil is crappy compared to the light sweet crude from the Saudi fields.
We get most of our oil from the Canadian tar sands and we are the leading coal producing country in the world, but burning coal to make gasoline emits fossil fuels into the ozone causing "global warming".
Clearly we have LARGE problems!
It is MORE BLESSED to GIVE than it is to recieve: and if there is any perverting of the balances, it could turn into hot coals on the heads.
It does not have to be all the gas stations. Just pick one just to send a message.
janoy wrote:I live in Edmonton Canada and right now our gas prices are 1.17 per litre so that makes it almost 5.00 a gallon. It is going to be higher I hear.