Remember the good old day when it was "Bush taking care of his oil buddies!" - New England Patriots Forums

Patradomous · 02-24-2012, 09:56 AM

Remember how the left use to howl and whine about Bush taking care of his oil buddies when gas was 4$ a gal.???

Well those days unemployment was 5%.

How come nobody is complaining about ObaMao taking care of his Solyndra buddies.
The Feds tax 33% of every dollar spent at the pump. ObaMao is delighted that he can extort the poor and middle class into funding the Unicorn industry. All of this while the left claims he is never to blame.
Remember the payroll tax cut so you could save 40 bucks for pizza night?...WOOOPS right into the gas tank. Looks like its tofu night instead.

Quote:

The Feds tax 33% of every dollar spent at the pump

This incorrect its about 19 cents per gal. state of Ma. is 23 .5 per for a total of 42.5 cents tax on gallon of gas.

JackBauer · 02-24-2012, 10:00 AM

I'm sorry... was there a coherent thought or argument you were trying to express?

Mrs.PatsFanInVa · 02-24-2012, 10:13 AM

Quote:

Originally Posted by Patradomous

The Feds tax 33% of every dollar spent at the pump. ObaMao is delighted that he can extort the poor and middle class into funding the Unicorn industry.

Might make sense if Obama had raised the federal tax on gasoline or changed it's distribution...but that tax hasn't been raised or redistributed since 1993.

Quote:

On November 5, 1990, President George H. W. Bush approved the Omnibus Budget Reconciliation Act of 1990. It embodied a compromise the Republican President had reached with the Democratic-controlled Congress to reduce the Federal budget deficit. The Act increased the Federal gas tax by 5 cents, with half the increase going to the Highway Trust Fund, the other half to deficit reduction.

The Omnibus Budget Reconciliation Act of 1993, signed by President Bill Clinton on August 10, 1993, increased the gas tax by 4.3 cents, bringing the total tax to 18.4 cents per gallon. The increase was entirely for deficit reduction, with none credited to the Highway Trust Fund. However, the Taxpayer Relief Act of 1997, which President Clinton approved on August 5, 1997, redirected the 4.3-cents general fund gas tax increase to the Highway Trust Fund.

That is where the gas tax remains today.

When did the Federal Government begin collecting the gas tax? - Ask the Rambler - Highway History - FHWA

But don't let that stop you - sputter away, sooner or later you'll accidently say something factual.

Drewski · 02-24-2012, 10:23 AM

Most of tax on gas which goes up (while there is a Federal tax on it) is state tax.

For instance Gov. Patrick has put forth a plan to raise the gas tax in MA to pay for the T. I recall him mentioning 25-35 cent increase.

Either way, nothing to do with this, or any, President.

Mrs.PatsFanInVa · 02-24-2012, 10:30 AM

Quote:

Originally Posted by Drewski

Most of tax on gas which goes up (while there is a Federal tax on it) is state tax.

Either way, nothing to do with this, or any, President.

Exactly!!!!!!

***DarrylS*** · 02-24-2012, 10:43 AM

More hysteria based on what folks think, rather than what is..

When Bush left office the unemployment rate was 7.8%.. last month it was 8.3%..

We are currently producing more oil than was produced when George W. was in office.. gas prices are up across the world, not only in the US.

U.S. Field Production of Crude Oil (Thousand Barrels per Day)

When sabres start to rattle across the Strait of Hormuz then speculators begin to panic and drive up the price..

Drewski · 02-24-2012, 10:47 AM

Quote:

Originally Posted by DarrylS

More hysteria based on what folks think, rather than what is..

When Bush left office the unemployment rate was 7.8%.. last month it was 8.3%..

We are currently producing more oil than was produced when George W. was in office.. gas prices are up across the world, not only in the US.

U.S. Field Production of Crude Oil (Thousand Barrels per Day)

When sabres start to rattle across the Strait of Hormuz then speculators begin to panic and drive up the price..

That is the important part right there Darryl.

Used to work for Cumberland Farms (corporate) in their Wholesale Gas Division. Part of my job was to wait every evening for OPIS to release the moves on the NYMEX for the day. I couldn't give an exact percentage, but I would say most of the jumps were are seeing in price is nothing more then speculators.....speculatin'.

***DarrylS*** · 02-24-2012, 10:49 AM

Quote:

Originally Posted by Drewski

That is the important part right there Darryl.

Used to work for Cumberland Farms (corporate) in their Wholesale Gas Division. Part of my job was to wait every evening for OPIS to release the moves on the NYMEX for the day. I couldn't give an exact percentage, but I would say most of the jumps were are seeing in price is nothing more then speculators.....speculatin'.

It is amazing that based on this speculation that gas stations change the prices two or three times a day if it is going up.. and it hasn't even left the Mid East..

But when they go down, they go down slowly..

***Harry Boy*** · 02-24-2012, 10:50 AM

Messiah Jug Ears,
He will be re-elected, his groupies and millions of goofy Americans will see to that, we will deserve everything he does to destroy America, get ready.

I still wonder where all those screaming weeping slobbering "Bush War Protesters" went, it's like a miracle, they just vanished, POOF, gone.......

Drewski · 02-24-2012, 10:55 AM

Quote:

Originally Posted by DarrylS

It is amazing that based on this speculation that gas stations change the prices two or three times a day if it is going up.. and it hasn't even left the Mid East..

But when they go down, they go down slowly..

I am not going to defend it...as it clearly makes no sense to me (as a consumer).

But here is the why if you will.

Say you pull into Cumby's for a fill up. Say the price is 3.55/gallon. The price you are paying is based on what it will cost to replace the gas they sold yesterday (not yesterday as in the day before today, but "yesterday" in a in the past sort of way).

So when you see attendants changing prices 2-3 times day, basically what that is saying is the price on the NYMEX has jumped enough that the replacement cost for the gas in the ground at the station at that minute will be more than the load that was in there before (which you are paying 3.55 for).

The really sad part about all of it...there are very few laws regarding price gauging in this country. Would you be surprised to know that a gas station would get into more legal trouble by setting their price too low, compared to their market, than they would for raising it too high?

EDIT - And the Middle East part isnt really relevant. The gasoline that will be at your local Cumbies tomorrow, is in the oil storage facility in Braintree MA, Providence RI, Chelsea MA already. However to replace what you take out of there, you are buying at the price "in the Middle East".