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05-07-2008, 06:26 PM

Note: Here in YIP, gasoline went from $3.64 this AM, to $3.85 this evening.
Oil Use Down in U.S., Way Up Globally

Published May 7, 2008

The Energy Department is projecting that ...the overall petroleum tab will drop by 330,000 barrels a day—the first annual decline since the oil price shocks of Iraq War I.
But wait. Those 330,000 barrels of oil account for less than 1 percent of total gasoline demand in the United States. More importantly, while U.S. consumption takes a dip, global oil demand is projected to rise by 1.2 million barrels per day. This year, China alone will add 800,000 barrels a day to its consumption levels.
What does that mean for you and your experience at the local filling station? Demand will continue to outstrip supplies, pushing oil and gasoline prices even higher. Goldman Sachs sees the price of a barrel going past $150 and heading toward $200. Other industry analysts predict $7 at the pumps in the next few years.


05-08-2008, 02:09 PM
I agree...conservation here in the USA will be futile.

Do you honestly think a country like India, which was pretty much a third world **** poor country and just now creating economic wealth is going to conserve gasoline????

Led Zep
05-18-2008, 07:14 AM
I saw something on FoxBusiness that I totally agree with: raise the price of gasoline. Here is how it would work:

First, you increase the taxes on gasoline significantly - to the point where it would cost around $8.00/gallon.

Second, you would then cut back on the income tax significantly. While the price of filling up your tank would increase quite considerably, your net gain in take-home pay would more than offset the cost at the pump.

I really like this idea for a number of reasons. First, it is a small step in the direction of a national sales tax instead of an income tax. Second, if you can afford to drive a gas-guzzler then you will be paying your fair share in taxes - no loopholes. Third, foreigners visiting our country will be paying taxes on fuel purchased if they rent a car while they are here - and that is tax money we may not have collected otherwise. And fourth, it will force people to be more conservative with their driving habits - especially if there is much to be gained financially.

I guarantee that if the government took less out of my paycheck and made up the tax revenue at the pump, then I would definitely find ways to get things done with less driving.