BoB Lutz just on MSNBC saying we should pay $7.50 gal for gas.

[lil_red_v6]

when our paychecks get bigger and our minimum wage is around 16 an hour then maybe. but till then f***ing hell no im not f***ing payin 7.50 a gallon for gas. f*** that..

rant over.

sorry guys and gals, just tired of payin out the rear end for gas thats all.

[2ndgenz28]

Originally Posted by lil_red_v6

when our paychecks get bigger and our minimum wage is around 16 an hour then maybe. but till then f***ing hell no im not f***ing payin 7.50 a gallon for gas. f*** that..

Or atleast charge us a fair price, during the last spike oil had to reach $180 barell to be $4 a gal, now it only has to hit $100 barell.

There is no ammount of math to figure that one out, just pure greed.

And we all know demand is down, large sectoin of the this country and others have been wipped out by fire, flood, earthquake and tornado, everyone is out of work, no one has money.........

And they want to take even more to see how long it takes folks to snap.
[they need to remove the cotton from their ears first cause most have already]

[14pilot]

Originally Posted by truth411

Where did you get your numbers?? the Federal gas tax is only .18 cents..


Hmmmm... Reading through this thread, there is alot of Koolaid and mis-information going on here.

You are the uninformed one here. 48% of the cost of a gallon of gas is Federal Taxes. You only mention a small portion that, the 0.18 cents that you pay at the pump. You are missing the $1.50 in Federal Taxes that the oil companies pay per gallon. They pass this on to us.

Just because we don't "see" the tax at the pump, doesn't mean that we are not paying it. What favor of KoolAid are you chugging down?

[a_Username]

Originally Posted by 14pilot

You are the uninformed one here. 48% of the cost of a gallon of gas is Federal Taxes. You only mention a small portion that, the 0.18 cents that you pay at the pump. You are missing the $1.50 in Federal Taxes that the oil companies pay per gallon. They pass this on to us.

Just because we don't "see" the tax at the pump, doesn't mean that we are not paying it. What favor of KoolAid are you chugging down?

Ding Ding Ding; they're called "severance taxes" in Alaska.

[ssump29]

Originally Posted by 14pilot

You are the uninformed one here. 48% of the cost of a gallon of gas is Federal Taxes. You only mention a small portion that, the 0.18 cents that you pay at the pump. You are missing the $1.50 in Federal Taxes that the oil companies pay per gallon. They pass this on to us.

Just because we don't "see" the tax at the pump, doesn't mean that we are not paying it. What favor of KoolAid are you chugging down?

NO NO NO sir you are wrong. I posted up the charges that are charged. That's a invoice I'm sitting here looking at. Those are the current taxes and you will see that Federal is not as high as you claim. That's the taxes that are charged onto the refinery and what they charge Wholesalers and Suppliers when you get the product at the rack. So where ever you are getting this 1.50 is totally wrong and mis-informed. Unless you are in this business as I am and do this on the daily then please don't try and tell me otherwise. And if you are post up your information or we can privately discuss the matter of my(our industry if you do this for a living).

[ssump29]

Originally Posted by a_Username

Ding Ding Ding; they're called "severance taxes" in Alaska.

You are also wrong. A severance tax is NOT a federal tax. It's a tax placed by your state to extract natural resources from that state's land that can be used in other states. So, Alaska I believe is the only state in the union that actually imposes this tax. And maybe Cali if I recall correctly.

[ssump29]

Originally Posted by 2ndgenz28

Or atleast charge us a fair price, during the last spike oil had to reach $180 barell to be $4 a gal, now it only has to hit $100 barell.

There is no ammount of math to figure that one out, just pure greed.

And we all know demand is down, large sectoin of the this country and others have been wipped out by fire, flood, earthquake and tornado, everyone is out of work, no one has money.........

And they want to take even more to see how long it takes folks to snap.
[they need to remove the cotton from their ears first cause most have already]

Correction crude never hit 180 a barrel in 2008 highest it got was 147. Although you are correct that they used that excuse back then for why gas prices were high. As of today at this moment crude is at 93 a barrel, but gas is still being traded higher then it should be.

The problem is that the speculators and hedge fund managers are trading and creating false bubbles not based on the fundamentals and instead doing the bidding based on economic news which is a false way of setting the price. Until the rope is pulled in on how and what reports can be used to affect trading prices they will continue to do so to keep portfolios in the black and prices within a certain trading range. Nevermind that our gasoline stockpiles have risen each week for the past 6 weeks soon to be 7 after this week is over with. Yet prices aren't falling when they should if the laws of fundamentals were being followed.

I fight this fight to stop this everyday, but until enough people actually stand behind change , nothing is going to change.

[CamaroSkooter]

I don't even understand how speculators and hedge fund managers ever got the power to affect the price of a commodity.

Commodity prices should be determined solely by supply and demand.

[ssump29]

Originally Posted by CamaroSkooter

I don't even understand how speculators and hedge fund managers ever got the power to affect the price of a commodity.

Commodity prices should be determined solely by supply and demand.

Yes you are right it should, but since its a open free market, they hold most contracts and trade them based on what they percieve will affect supply and demand even when most of their reasoning never come true and never happen. But they use their data to screw the prices and basically control the market. They like to cause false positives on stockpiles as well by buying at important trading hubs and storing the product and not releasing it to the market to create the image of tight supply with high demand thus sending the panic out to buy low(which forces prices up) before prices shoot up. It's a method thats really frowned upon but proving it is too hard to do so there isn't much one can do about it unless parties conspired together.

[truth411]

Originally Posted by ssump29

NO NO NO sir you are wrong. I posted up the charges that are charged. That's a invoice I'm sitting here looking at. Those are the current taxes and you will see that Federal is not as high as you claim. That's the taxes that are charged onto the refinery and what they charge Wholesalers and Suppliers when you get the product at the rack. So where ever you are getting this 1.50 is totally wrong and mis-informed. Unless you are in this business as I am and do this on the daily then please don't try and tell me otherwise. And if you are post up your information or we can privately discuss the matter of my(our industry if you do this for a living).

Nice post Like I said, there is alot of kool-aid floating around whenever this topic comes up, but personaly I am no expert on this issue.

[cleanwhiteSS]

Originally Posted by ssump29

NO NO NO sir you are wrong. I posted up the charges that are charged. That's a invoice I'm sitting here looking at. Those are the current taxes and you will see that Federal is not as high as you claim. That's the taxes that are charged onto the refinery and what they charge Wholesalers and Suppliers when you get the product at the rack. So where ever you are getting this 1.50 is totally wrong and mis-informed. Unless you are in this business as I am and do this on the daily then please don't try and tell me otherwise. And if you are post up your information or we can privately discuss the matter of my(our industry if you do this for a living).

ssump29, thank you for clearing them up. People have no idea what they pay in taxes. This is what happens when they get there news from MSNBC and don't do there own investigating.

[kbui]

Originally Posted by ssump29

NO NO NO sir you are wrong. I posted up the charges that are charged. That's a invoice I'm sitting here looking at. Those are the current taxes and you will see that Federal is not as high as you claim. That's the taxes that are charged onto the refinery and what they charge Wholesalers and Suppliers when you get the product at the rack. So where ever you are getting this 1.50 is totally wrong and mis-informed. Unless you are in this business as I am and do this on the daily then please don't try and tell me otherwise. And if you are post up your information or we can privately discuss the matter of my(our industry if you do this for a living).

Technically the taxes you tabulated are correct as far as what we can see, but the hidden tax (fed, state, or local) is a lot more involved. The current tax system is so convoluted and purposely made difficult to decipher. To add to the taxes we can see, the fed income taxes and other fees these oil companies along with the transporting and resellers have to pay, then the real tax is a lot higher than what we can see on our invoices because it was lumped in with the price. These companies aren't in business to eat the costs/taxes. They simply pass them on to the customers. I have to do the same with my small business. This can lead to another whole discussion about taxes.

[ssump29]

Originally Posted by kbui

Technically the taxes you tabulated are correct as far as what we can see, but the hidden tax (fed, state, or local) is a lot more involved. The current tax system is so convoluted and purposely made difficult to decipher. To add to the taxes we can see, the fed income taxes and other fees these oil companies along with the transporting and resellers have to pay, then the real tax is a lot higher than what we can see on our invoices because it was lumped in with the price. These companies aren't in business to eat the costs/taxes. They simply pass them on to the customers. I have to do the same with my small business. This can lead to another whole discussion about taxes.

NO it's not, there's no hidden taxes. AGAIN I WORK FOR A OIL COMPANY and do the TAXES monthly. The taxes paid at the refinery and wholesalers is the final tax. There is no extra taxes hidden period. Why DO people here try to tell me about MY OWN BUSINESS.

Just to point out, we line every tax so NO you are wrong its not lumped in, and YES fuel surcharge is shown just as well and that's NOT a tax so you can't add that to federal taxes. WOW some people just talk to talk and have no clue. If you some proof I'll show you some things.

[kbui]

I don't know how you do your business, but everyone else I have worked with or my own business, I have to include my fed income tax, business tax, alternate tax into my costs of doing business and pass on to the next person on my supply chain. There are fed taxes INCOME, BUSINESS or otherwise will have to be passed on other wise I will be losing money just to stay in business. The point I am making is there are FED taxes and others along the supply chain that the consumer will have to pay. It might not show up as "taxes" on the tabulated spread sheet, but I am sure they're there in other columns as added costs, expenses, fees....If this is getting too difficult to understand, blame it on the tax structure we have today. At the end of the day, it's still a fed (and other) tax regardless how accountants like to label them.