Jul-06
28
Average Wisconsin Household Will Pay $978 More for Gas
By
See ѕtοrу іח today’s Pioneer Press:
Average Wisconsin Household WіƖƖ Pay $978 More fοr Gas
Add tο tһіѕ tһе increase іח natural gas fοr heating ουr homes іח tһе winter аחԁ higher electricity costs tο keep ουr houses сοοƖ іח tһе summer, wе′re јυѕt darned lucky tһаt wе аrе аƖѕο חοt paying tһе increase іח property taxes tο pay fοr tһе Jones, Skogland, Hitchens, Lieffort аחԁ Cook-Shannon $54 million referendum tһаt tһе voters defeated іח April 2005.
Related posts:
- We Pay Taxes Too Aѕ pointed out many times before, government non-worker-workers add zero tο tһе economic calculation. Tһеіr ability tο participate іח economic activity depends οח һοw much...
- How Much Do You Really Pay In Taxes Iח һіѕ testimony before a Congressional Sub-Committee tһаt I posted last night, Peter Schiff claims һіѕ real marginal tax rate іѕ closer tο 90% іf...
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And don’t forget the costly Ziller school excess levy over-ride of 2001.
(I guess that’s back when money was cheap!!)
Gee, when can we get back to the good ol’ days of “Gore gas?” Remember back in the 2000 Presidential election when the Republicans were after calling it “Gore gas” when the price went above a $1 per gallon.
Allowing for inflation and new taxes, “Gore Gas” would now cost $6-7 dollars per gallon.
Embers, does that mean that Bush gas would be in the range of $18-$21?
From things I’ve read on this blog, there is no problem with the $3+ gas price — that’s all part of the free-market capitalist system. $10.4 billion in quarterly profits are what Exxon gets for working so hard. Actually, Exxon’s profits are at that level because they are profiting from the war(s) started by the Bush administration. War profiteering used to be considered bad form, at best, and was usually illegal. I guess with the freedom to torture, ignore civil rights and spy on the citizens of this country, we have to get use to being financially raped by the big oil, corporate gangsters.
That’s right, don’t forget the Ziller excess levy.
Gavel, you complain about Exxon’s profits. How much profit do you think Exxon SHOULD make on its gas sales?
Inconvenient Oil Facts:
Exxon makes around 10.5 cents on a gallon of gas.
The state of Wisconsin gets more than .50 cents.
Throw in federal taxes and it adds up quickly.
The run on gas prices is because of margin buying by speculators in the gas market in addition to China`s demand easily doubling in the last 5 years.
$3.00 is actually less than the last decades prices if you throw in inflation.
We get less than 24% of our oil from the mid-east.
Chris:
I agree with you on the $3 price being less than a decade ago. In 1973, the price was around 35 cents per gallon. At 5 percent inflation that would put the 2006 price at $1.75.
Exxon is making record profits because it gets a windfall from the market price of oil, i.e., $75 a barrel and its cost to extract a barrel of oil, i.e., $30. If the cartel-driven price drops to $40 a barrel, the record profits disappear. The $75 a barrel is not a “free market” price. It is a manipulated price by a cartel. That is not free-market economics. In Venezuela, the price of gas is 5 cents a gallon and the oil cash is rolling into that country. They make profits on the outside customers and protect their people. Of course, the oil companies are state own there.
The record profits being reaped by the oil companies are because of the war. The higher prices consumers are paying for gas are going to be detrimental to the US economy — at least that is what Jack Bauer is hinting at in this post.
You can’t honestly tell me that the oil companies are not getting record profits because of the Iraq War and what is going on in the Middle East? Is suppose you’re going to say it’s because of all their R&D and investments in infrastructure.
Gavel your comments concerning oil are consistent with how the left views almost every subject; it is all about politics and political scoring. The argument is completely void of economic reality and to debate on your terms the role government regulations have played in all this.
First of all on the regulatory front, do you not think our government imposed restrictions on exploration in this country, ANWAR as an example, have not played a role in limiting the supply of oil? Do you not believe restrictions which have resulted in no additions to domestic refinery capacity have played a role in limiting the supply of gasoline? Then throw into the mix of regulations the restrictions on the use of coal and nuclear energy.
The fact of the matter is that our government has done everything possible to limit the supply of domestic energy. Then tack on fifty cents of taxes to the selling prices, which only government can do, and it should become quite clear the reason behind higher fuel prices; it is the GOVERNMENT!
Now speaking of gouging Gavel, how do you reconcile the actions of the Hudson School Board which has overtaxed the district to the accumulative amount of twenty million dollars, the amount in the fund reserve, over the last several years? I can adjust my habits or my mode of transportation, such as car pooling or buying a hybrid car or limiting frivolous driving, in response to gas prices. With government taxes like those imposed by our local school boards, I have no other options, outside of moving, to adjust my personal habits.
So tell me Gavel who are the real âthugs?â
I would say the true `thugs` are the NEA/WEAC robots that sit on the Hudson and New Richmond school boards. The Hudson board is completely in the union camp, but at least the taxpayers of New Richmond have a few board members who actually care about them. Of course I wouldn`t count Chris Skogland, Lester Jones and Greg Gartner as ones who care about the taxpayers and children. If Lester Jones was still in charge he would probably try to make it so that no board member could disagree with the president or else risk being put in front of the firing squad.
Gavel,
Your incredibly irrational analysis of energy commodities is pretty funny, and you are commenting just like several others who have wandered in here over the past couple of years only to find they are so out of their league that they run in embarrassment. It\’s only a matter of time with you, too.
More importantly however, this blog has a history of some very studied and precise discussion of matters such as oil company profits and market price actions. You need to do a little homework by at least getting up to speed with the what some of the bright eyes out here have written (numerous times) in this regard. Otherwise, you are simply making arguments that have long since been fully and completely shown to be without merit – from even a rudimentary level of economics.
If you want to keep up your current tack of irrational argument, beware – you do so with your own embarrassment at risk.
Max Fill:
Irrational? Lets remove the US introduced instability in Iraq from the equation for the past approximate four years. Do you think the price of a barrel of oil would be hovering around $75? Where does this price come from? Fears about disruptions in the oil supply chain and the oil production facilities. Add into the equation the rapidly expanding economies of countries like China and India and we have a variable the is helping to push the cost of a barrel of oil higher.
Add into the US demand for oil millions of suckers who bought into the SUV baloney, and you have an additional variable that is driving the demand up. Now that the SUV sheep are starting to see the shock at the gas pump, they will slowly wise-up and start downsizing to reduce gasoline expenditures. Of course, GM and Ford will lose out on the downsizing because they are run by unimaginative idiots who have put their eggs of success in the SUV basket. Of course, Max you will probably blame GM’s and Ford’s problems on the union, but the fact is that Detroit has been suffering from carbon monoxide poisoning for over three decades.
Just think about it, 30 years ago GM was the world’s largest corporations and it’s average factory workers was making $50,000, had a full slate of health benefits and a retirement package to boot. Almost every nut and bolt it put on its cars was made in the good old USA. Today GM is hoping for a European sugar daddy to enhance its status from a bag lady to a prostitute. Today Wal-Mart is the world’s largest corporation. Its workers make $20,000 a year, only a third of them can afford the partial coverage of their health care package and “retirement benefits” is a phrase used only by its management. Over 80 percent of what Wal-mart sells is imported and made by workers raking in 50 cents an hour — if they are lucky. At this rate, in another 30 years, the average workers in world will be working for free. I guess that’s what they mean by a “free market” economy.
Our demand for oil has been greater than U. S. production since 1950. Today we are 60 percent dependent on foreign oil. Factor in India and China and there are too many countries chasing after too few barrels of oil.
Only recently has congress moved to allow more drilling in the Gulf of Mexico and the continental shelf. How nice. At this time Cuba, China, and Canada are drilling closer to U. S. shores than is allowed by U. S. oil companies. Go figure. But that is what the environmentalists want: log cabins and horses and, oh yes, renewable engergy. How about nuclear?
Source: Senator Larry Craign (R-ID)website.