I'm getting SO SICK of gas prices and car taxes!

[2manyrocks]

Pres. Jimmy Carter Mid night summer dream. Shut down Natural Gas lines. Stopped power plants from gerneating power and Copper smelters had to chainge to crude oil for there furnaces.
I have never heard why it happened So Tell us .Other than in Calif. breathing causes cancer.

ken

I suggest reading the wiki link at post 87, https://en.wikipedia.org/wiki/1973_oil_crisis but the short answer why the 1973 oil embargo happened was that the US resupplied ****** with arms in spite of King Faisal's warnings against doing so. Specifically, ****** came very close to being overrun by Syrian tanks, and was reduced to something like ten functional tanks at the end of this one battle. They asked for resupply. King Faisal objected to Kissinger. The USA resupplied. Embargo on.

Valley of Tears - Wikipedia, the free encyclopedia

At the time of the oil embargo, I don't recall any of this being made public.

The 1973 oil embargo link also discusses the economic fallout from the increase in oil prices and how it dramatically affected about everything.

Now read Varmit's post carefully.....as to what may possibily be causing our gas prices today.

I get messages from a Maryland politician, who's a pretty right wing conservative, just so I can see what other people are thinking. I guess I would be labelled a middle-roader liberal, but I have conservative tendancies about some things as I get older. Anyway, he posted the following observation this morning, and I thought it was highly relevant to the ongoing discussion:


In 2000, Congress de-regulated the futures market, allowing complicated derivatives and electronic trading that resulted in a "speculator's paradise". Oil supplies are greater today than they were three years ago and the demand for oil is lower today than it was in 1997. Dan Gilligan, the President of the Petroleum Marketers Association, told reporter Steve Cross on 60 Minutes, "Federal regulators don't have access to data and they don't know who holds what position on oil price speculation."

Professor of Economics James Hamilton at the University of California notes that 10 of the last 11 U.S. recessions were preceded by a run-up in oil process. The current gas prices could be a warning of another dip in the economy.

The CEO of Exxon admitted in 2011 that speculation engineered by hedge funds drove prices over $100 per barrel while supply and demand economics could only justify $60 per barrel. A catalyst for the September, 2008 financial crisis was the increase in oil prices by nearly one trillion dollars. This money transferred from the family budget of Americans into the vaults of OPEC Islamic countries that subscribe to" Sharia Compliance Finance" while using those funds to conduct economic warfare against the United States.

Speculation on oil is called "paper oil" and many believe it is about 40% of the price that we pay at the pump. Speculation investments increased from 13 billion to 300 billion in the five years leading up to the 2008 peak price. Twenty barrels were being traded as "paper oil" for financial gain for every one barrel naturally being consumed by the American public. In another words at $100 a barrel, the real value was $60 or $2.50 a gallon compared to $4.00 at the pump.

Today, speculators control more than 80% of the energy futures market - a figure that has more than doubled in 10 years.

The President, Congress and enforcement agencies have stood silent while the American people have become targets of economic warfare. These attacks are both foreign and domestic. Recently, the President has targeted speculation and promised to do something about it. We the people and the American economy are still waiting for results.

*Please note: Much of the information contained in this letter is from the book, Secret Weapon, by Kevin Freeman.

 

[ultrarunner]

Australia has the highest standard of living on the world by many measures. There is no question about that. I can see it first hand. I currently work there.
To blame it all on Obama is easy but the state we are in didn't happen over night. It happened over past thirty years or so. The problem is congress not the president. In fact both Canada and Australia have universal health care for everyone from crib to grave. It puts much less burden on companies and make them more competitive. As I see it the health care cost to my employer is greater burden than taxes. We as employees pay greater share every year and the quality of the care is getting worse and more limited. We get less for our money. I usually voted republican in the past but I changed my mind only due to the resistance to universal health care. The care we have benefits no one but the insurance providers.

I've seen the other side where people without anything receive the finest Health Care...

Case in point... I knew a family on Section 8 housing... the mother has four children by the time she was 22... the last child was born with a severe heart defect. This child was in intensive care for the better part of a year and had several heart operations at Stanford...

The boy is now a teenager and quite active in sports... a little small for his age, but otherwise totally healthy... over a million dollars in Health Care plus extended stays for the family at Ronald McDonald House... cost to the family... nothing.

On the other side of the coin... I worked in Austria and made the acquaintance of several nurses and a doctor... they have visited me here in the states.

They appreciate the Health Care system but point out it isn't everything it's made out to be... Medical care for young and productive is very good... not so good when you are older... especially retired. My Doctor friend often has to send those with means outside the country if they need expensive procedures and are retired... the system does allocate care.

 

[LazySusanFarms]

I can only imagine what it takes to build an oil rig and get it out into the Gulf of Mexico or the North Sea and then submerge the drill 1,000s of feet below the ocean and then more 1,000s of feet into the sea floor to reach the oil. The financial engineering must also be complicated due to the risks involved. Are we being charged too much? Sure, you would be a fool to say no. Does Goldman Sachs and others run the price up when they can? I am sure they do. We live in a very complicated world where a lot of things don't make sense. Do I believe that the government, in all of their wisdom, fix this? **** no! They can't fix anything so it must be left to the markets and innovation to straighten all of this out. The problem is that it takes too long.

 

[rgs03833]

Thats two ignorant postscomments so far-wake up. Gas prices for your vehicle are only a part of the picture, the price of oil affects everything from plastic to food, medicine and even your electric bill.
inflation and econmy is based on oil costs and thats why everyone should be concerned about the high prices. Even if you dont own a car it is affecting you.


Your theories are BS, what are you going to do stop living?

Here is a small list of what high oil prices affect;

Areas and Products Affected by High Oil Prices

You are CORRECT :thumbsup:

It's the Domino Effect !!!

This is the OIL CRISIS...

The next one will be WATER !!!!



But I can't say it too Loud !!! They might send me to the Mental Hospital !!!

 

[300UGUY]

I really think that the US has learned nothing from our past energy crunches. In 73, the arabs darn near put us all on foot. By 79, everything was forgotten, so much so that my employer, Cadillac, was testing a 625 cu in engine!!! I drove a engineering test car with that engine - you could darn near see the gas gage go down when you accelerated. In a flash, we were working on conserving fuel - really kinda a whiplash for engineering. I remember engineering campaigns to reduce weight - people were reassigned from other programs to get better milage from our vehicles. I drive my HHR as much as possible. I have a 3/4 GMC pickup, that doesn't see 1k a year for driving. I am thinking of buying a small sport utility and a trailer. I need to haul stuff every couple of weeks, but most of the time all I am hauling is butt. Nobody needs a F350 Supersomething to get groceries.

 

[schoolsout]

Only read the first page, but printing up money to cover debts of the banks/broken corps/broken gov't is the main problem.

 

[schoolsout]

Australia has the highest standard of living on the world by many measures. There is no question about that. I can see it first hand. I currently work there.
To blame it all on Obama is easy but the state we are in didn't happen over night. It happened over past thirty years or so. The problem is congress not the president. In fact both Canada and Australia have universal health care for everyone from crib to grave. It puts much less burden on companies and make them more competitive. As I see it the health care cost to my employer is greater burden than taxes. We as employees pay greater share every year and the quality of the care is getting worse and more limited. We get less for our money. I usually voted republican in the past but I changed my mind only due to the resistance to universal health care. The care we have benefits no one but the insurance providers.

'71 was when Nixon cut the last link between gold/dollar and, subsequently, when the US started to spend a lot more than it took in via taxes/other revenues.

Paper money based on nothing but promises has helped create this mess. It allows the gov't (and banks via fractional reserve banking) to create money from nothing...diluting the value of each and every dollar currently in existence.

There is a huge correlation between the current "QEs" (Quantitative Easing/Debt Monetization schemes) and commodity prices.

 

[rgs03833]

I really think that the US has learned nothing from our past energy crunches. In 73, the arabs darn near put us all on foot. By 79, everything was forgotten, so much so that my employer, Cadillac, was testing a 625 cu in engine!!! I drove a engineering test car with that engine - you could darn near see the gas gage go down when you accelerated. In a flash, we were working on conserving fuel - really kinda a whiplash for engineering. I remember engineering campaigns to reduce weight - people were reassigned from other programs to get better milage from our vehicles. I drive my HHR as much as possible. I have a 3/4 GMC pickup, that doesn't see 1k a year for driving. I am thinking of buying a small sport utility and a trailer. I need to haul stuff every couple of weeks, but most of the time all I am hauling is butt. Nobody needs a F350 Supersomething to get groceries.

Do you think they CARE about what they are Driving? Most People cares about 90% of the time is their IMAGE !!! They can't be caught DEAD in an old beat up car !!!

I have 2- 80's Car, one is a Honda 90CRX and I can get 50 - 52 MPG out of it. It's UGLY as h3ll, but it's GREAT cause I can get around who cares what People thinks about me.... All I care is how much I save money for them rainy days...

My own Mother taught me a great lesson on that one, LOL. She's Poor now... What happens to her IMAGE now? LMFAO !!! She would NOT leave the House if she is NOT made up or her Hair is NOT right... Hmmm.... What happens to all of her money, friends and boyfriends and Blah Blah Blah....

I guess it's the SON that taught her a big lesson, LOL. She's talking about selling her House and move to mine, LMAO and YIKES !!!

I'm wondering how she's gonna feel when I take her in my 90's Honda to go Shopping, LMFAO !!!

People will NEVER learn, and that's including my own Mother!

****

Do what you can to save money, who cares what People thinks... As long you LOVE yourself, and those around you, those People around you have to LOVE of what you do!

 

[schoolsout]

In the long run after we're all dead, economics may win out over governmental efforts to manipulate the economy, but in the short run (the period in which we have to live), politicians' control and manipulation of the money supply has a great deal to do with the economy.

Let's say someone makes money freely available to make real estate loans regardless of traditional credit underwriting practices so people who really can't afford loans get them. When large numbers of these people can't pay them back, the lenders who made them also get in financial trouble themselves.

Now the same someone who effectively insures many of those lenders doesn't want them to fail because the same someone can't operate them, but doesn't want to pay off their depositors, either. So the same someone throws more money directly into those lenders to keep them going.

At the same time, that someone steadily devalues the money supply in the hope that these lenders sitting on foreclosed real estate will be able to unload them without a loss that the someone would otherwise have to eat if the lenders failed.

The businessmen that sell oil aren't fooled by any of this. They raise their prices to compensate because they aren't in business to give away money.

Who pays for it? The people that acted responsibly-that had savings, it gets eaten up by the devaluation of what they worked for and probably don't realize who did this to them or how they did it.

Smartest thing I've read on this site...I need you down in the "Friendly Politics" section...

My only qualm about what you say is that it isn't the producers raising the prices, it is the "speculators" (of all sorts) that see what is happening to the currency. Hard assets will always be the same asset...a barrel of oil will always be a barrel of oil and contain the same amount of BTU. A dollar may always look like a dollar, but it's purchasing power is being eroded by the gov't/banks.

This is a fact and I chuckle when people call me crazy for stating this. It is simple economics...beyond the supply/demand curve taught in college. Ever wonder why they don't teach you the true mechanics of how a "money" works?

 

[2manyrocks]

I forget the diplomatic way my professors used to put it, but we could start out saying, "in a system that isn't rigged, when the supply curve does this and the demand curve does that...." with the most important words in that phrase being "in a system that isn't rigged...."