Gasoline is cheaper these days!

[Wasillaguy]

Something like this?
Oil company profits are taxed at a 25% base rate. The tax rate rises 0.2% for each dollar the price of oil exceeds $52 per barrel.

I used this example because it's exactly what Sarah Palin got passed in Alaska with enthusiastic support of democrats. Big oil walked away and Alaska has been in an economic funk ever since.

 

[TheBar]

I used this example because it's exactly what Sarah Palin got passed in Alaska with enthusiastic support of democrats. Big oil walked away and Alaska has been in an economic funk ever since.

US oil exports are 3.99 million bbls/day. It is our #1 export at $378.6 billion. The #2 export is machinery at $229.6 billion. So even though our innovation and productivity is credited with making the US the wealthiest nation in the world, oil brings in more foreign money than anything else. Oil gets taxed multiple times from the oil field machinery makers to the convenience stores selling the gas. Kill our #1 source of income and what is the result?

 

[Skookum]

That's the problem... First We The Taxpayers pay oil companies to explore and drill. Then oil companies get special treatment and government access, and tax breaks on top. We The Taxpayers also pay for their finished product, at whatever price they command because we are 100% dependent on it, like water. When they want more money, they withhold supply to drive up the price. They make billions in profit, years in a row, and then whine that they aren't being given enough. All of this is protected and enshrined, literally no other business in the US gets this kind of treatment. Some of it I understand from the perspective of necessity, but bludgeoning the consumer over the head needs to stop.

 

[DonTom]

But quite often the increased price of fuel causes a lot of other items to cost more so your point is really kind of moot.

Higher gas and diesel prices have always had an effect on inflation.

-Don- Auburn, CA

 

[Professor David]

Taxation on the large oil companies would be passed along to who?

Paying down the national debt rather than increasing the already grostesque compensation of the top 1% oil executives. Record profits but the federal government continues huge subsidies to the oil companies. A totally corrupt system due to political corruption.

 

[Skookum]

As the USA, we seem to laud oil companies with free Taxpayer Money in the years they make billions of profit, a lot of which leaves our country. But we can't seem to do the same for Veterans and the VA healthcare system. Maybe it's time to get our priorities straight?

 

[Onyrlef]

I wholeheartedly favor central planning for the economy, regardless that magical thinking notwithstanding, it’s never worked and never will, ever. Summed up in Animal Farm when the revolution finally resolves, “All animals are equal, but some are more equal than others”.

 

[Isaac-1]

Paying down the national debt rather than increasing the already grostesque compensation of the top 1% oil executives. Record profits but the federal government continues huge subsidies to the oil companies. A totally corrupt system due to political corruption.

I would agree with you if the federal government were not spending money like crazy creating the national debt in the first place

 

[Professor David]

I would agree with you if the federal government were not spending money like crazy creating the national debt in the first place

We should be able to walk and chew gum at the same time. It was accomplished in 1998 to 2000. Wonder what party was in the White House? Record national debt increase from 2016 to 2000 (8.4 Trillion). Party in the White House? Your point?

 

[Onyrlef]

We should be able to walk and chew gum at the same time. It was accomplished in 1998 to 2000. Wonder what party was in the White House? Record national debt increase from 2016 to 2000 (8.4 Trillion). Party in the White House? Your point?

Angst over the debt occurs when my party isn’t running up the debt and disappears when it is.

 

[Tulecreeper]

Sure ,some things do better than inflation some do worse. Inflation is just an average of all items.

Heath care as well as housing has gone way above the normal inflation rate. And it sure looks like housing is more than three times what it used to be even after adjusting for inflation.

If housing was at its normal inflation rate, we would be back where most would be living fine with only one person per house working. Like it was back in 1957.

IOW, they difference in housing costs would pay for a lot of gasoline at today's prices.

To do better than inflation, do what I did. Invest in a few houses to keep for a few years. But most of here are now too old to bother with such investments.

I cannot say I fully understand it myself as house values continue to raise in CA as people leave CA by large numbers. I don't think they have even slowed down, except for a little in San Francisco where the median home price now is only around 1.2 million. A drop of close to 5% in one year.

The median home price in CA is now $787,000.00.

But I will now check . . . .

CA housing is about 4.5% higher than last year.

But inflation was 5.4% during that time. So I guess it does sound about right.

-Don- Reno, NV

According to Zillow, the average Arkansas home value is $195,502, up 2.8% over the past year. Of course, they are counting all the high-priced homes in Little Rock and Ft. Smith in that estimate and that is only for a house on a lot in a residential neighborhood. Our rural 10 acres and house only cost us $150k, but that was 10 years ago. Now it can go for upwards of $300k.

 

[Tulecreeper]

Gas in Reno is going down fast in price. Now it's often below four bucks if we consider $3.999 to be under four bucks.

We don't.

I have not yet checked the gas price here in Auburn.

But for electricity (that I normally use)

It's now 35 cents per KWH here.

More than double my Reno price.

16 cents per KWH in Reno.

Let me check the average gas price on the web for Auburn:

"The **average gasoline price** in **Auburn, California** is currently **$4.65** per gallon"

Now I will see what it says for Reno:

"The average gasoline price in Reno, NV is approximately **$4.053**

-Don- Auburn, CA

It's running right at $2.75/gal here this week.

 

[Tulecreeper]

As the USA, we seem to laud oil companies with free Taxpayer Money in the years they make billions of profit, a lot of which leaves our country. But we can't seem to do the same for Veterans and the VA healthcare system. Maybe it's time to get our priorities straight?

The crux of the problem is, providing veterans with quality health care is a money pit. Veterans don't make money for the economy, they only add a burden. Once you have done your duty for Uncle Sam, he has no need for you anymore and he just wishes you would go away. As Foghorn Leghorn used to say, "Go away boy, you bother me."

 

[DonTom]

We don't.

I certainly don't. To me, even numbers seem smaller without all those 9's.

-Don- Auburn, CA (nice 65°F/18.5°C day here, about ready to leave on a motorcycle ride).

 

[DonTom]

Have you ever noticed that when Gas prices start to drop..... that happens?

Yeah, when the oil price falls, it seems they are always looking for an excuse to jack the price way back up again.

-Don- Auburn, CA

 

[DonTom]

The crux of the problem is, providing veterans with quality health care is a money pit.

Everybody I know who uses the VA in Reno is happy with it. Includes me.

I don't know why, but many say the Reno VA is better than most others.

-Don- Auburn, CA

 

[Onyrlef]

Everybody I know who uses the VA in Reno is happy with it. Includes me.

I don't know why, but many say the Reno VA is better than most others.

-Don- Auburn, CA

Each State administers/funds VA healthcare independently of each other State. The efficiency and services provided to veterans can and does vary widely. The VA Hospital and services in Shreveport, La is vastly superior to the VA Hospital in South Dallas. For one, the ground floor of the Dallas VA Hospital has been turned into a an Army Surplus carnival bazaar with vendors setup on both sides of the hallways selling T-shirts, hats, patches, popcorn, candy, etc.

 

[Isaac-1]

We should be able to walk and chew gum at the same time. It was accomplished in 1998 to 2000. Wonder what party was in the White House? Record national debt increase from 2016 to 2000 (8.4 Trillion). Party in the White House? Your point?

I think both parties are to blame, and pointing to one party that managed to balance a budget for 2 years 25 years ago is not saying much, particularly since then both parties have been in power repeatedly.

 

[Professor David]

I think both parties are to blame, and pointing to one party that managed to balance a budget for 2 years 25 years ago is not saying much, particularly since then both parties have been in power repeatedly.

I agree that both parties are to blame for the debt but it doesn’t mean we should not understand/point out that the 1%ers are clearly cheating the system for their own glutinous greed. They pay relatively small amounts of money (political contributions/lobbying) to own just enough politicians to rig the system. Big oil has been playing this game for a very long time.

 

[Skookum]

We bring up record oil US production in 2023..
Falling, and relatively low price of gasoline now in 2024..
The US is now one of the largest (THE largest?) exporters of oil...and we supply a huge supply of our own.
The national reserve is being refilled at a much lower price per barrel, good for taxpayers.

I'm sure someone will be along to tell us to close our eyes and pretend how horrible everything is... right?