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Discussion in 'The Powder Keg' started by Pred, May 21, 2008.
SWEET.... Almost there....
Man I really feel for the owner/operators. Removing the gas tax might not do much but I drive across town to save a nickel a gallon. My buddy "Lucky" is out there now and he said it cost him 880 dollars to fill up and he had a quarter of a tank. I don't know if they can last much longer.
The gas tax would matter if gas was about $3.10 a gallon. But not anymore. I work at a paper office, contracted carriers deliver the paper. At $4.00+ a gallon, how much money can you really make off of driving around all day? We have routes that pay probably $800 a month or so. But they also take over an hour of stop/start driving, some of them closer to 2 hours. Thats a lot of money in gas for very little profit.
Ok do the math 880 dollars in fuel at 4.44 a gallon equals 198.198 gallons. Now if he saved 24.4 cent per gallon then he would only save 48 dollars and 36 cent. He fills up every day so that is 48.36x6= $290.16 is it worth it to him?
24.4? I thought the federal tax on gas was 18.4 cents?
It is on gas. It is more on diesel.
Ahh... I thought you were talking about gas.
The states also tax fuel so if they followed the Feds here in GA it would be 25 cent a gallon on diesel so the truckers would save 49.4 cent per gallon here. I think it would make a big impact on everyone. It doesn't just cost you at the pump it cost when you buy anything that had to be shipped too. Ask any business if they will eat the difference or pass it on to consumers. if you figure gas then 198.198X 0.184= 36.47...36.47x6=218.92 a week saved.
I should have filled up last night, but instead I only put in just over half a tank. At least I get mileage reimbursement when I travel, at .45/mile.
Government jobs, gotta love'em
NEWS UPDATE: Oil tops $132 a barrel.
Do your happy dance pred.
More interesting articles: http://www.nytimes.com/2008/05/19/o...em&ex=1211342400&en=eb7387c4dc9be539&ei=5087
That one is about population distribution, mileage, and cost.
The interesting thing is, the companies are almost trying to see just how far they can push it. It will reach a tipping point. It has to. There will come a point where some people literally will stop being able to afford to do the driving they need to, let alone want to.
Of course, less leisure driving damages the economy too. Less money for leisure means less money spent on other industries. Basically, the average American consumer's money isn't going into the general economy as much, it has shifted towards oil companies.
Here comes that recession, and there's nothing that can be done about it under these circumstances. The weaker dollar, rocketing oil and gas prices, and the stagnation of the average wage are all colliding.
Also, as it gets worse, it's just going to kill the Republicans. If they were smart they'd try and help before the upcoming election. They need the good PR since links to Bush and oil do not help them one whit. If they want to keep Congress relatively evenly distributed they better move on it.
But instead, this happens: Congress grills oil execs on record pump prices - Yahoo! News
"WASHINGTON (Reuters) - Democrats in the Senate on Wednesday attempted to link record gasoline prices to cozy ties between President George. W. Bush - a former Texas oil man - and five big energy companies who logged $36 billion in profits in the first quarter of 2008.
For the second time this year, executives from Exxon Mobil Corp, Chevron Corp and three other big energy companies were called to testify before Congress to explain their record profits as gasoline prices hit a new record average $3.79 a gallon."
It's pure political theatre and really should be beneath them, but they're seeing an advantage and taking it.
Oh, and "Earlier this month, lawmakers unveiled a new energy package that would revoke $17 billion in tax breaks extended to big oil companies and slap a 25 percent windfall profits tax on firms that don't invest in new energy sources."
Okay, really...does any industry seeing record profits in the history of business need any subsidies, tax breaks, or anything from the government to help them? I find that doubtful.
Can't wait to see what happens when the average min. wage worker literally can't afford the gas they need to drive to work. Then we'll see some fun.
No they dont need any tax breaks or subsidies, but they dont need any windfall profit taxes either. That whole record profits is a last year thing for refiners, they are having a very tough time right now.
I have to agree. No interference beyond basic law. We're supposed to be capitalists here. There are some rules (monopolies, price-fixing, etc) but generally speaking the "too big to fail" ethos has always made me uncomfortable. That's why airlines suck so much now. If they had to genuinely compete they'd all be Southwest.
It's $4.15 at the station by my house, but only $3.95 at the fred meyer across from where i work. not counting that you get 10 cents a gallon off on 1 fill up for $100 you spend in their store
One of my best friends told me his son just walked away from his
diesel truck with $20k left on the banknote because he could no longer haul cattle. He could not exist on the pay per mile, the money paid out to the owner of the trailer, the cost of insurance ($700.00 per month),
cost of tires, cost of oil changes, and on and on and on.
He had 600k miles on the truck and would need a major overhaul
when he hit one million miles most likely in Christmas 2009 at the
rate he was racking up the miles. Current overhaul on the Caterpillar engine just cost a friend of his with identical engine $22,000.00 and he had the receipt to prove it.
The company for which he hauled cattle as an independent owner
either would not or could not increase their rate per mile to cover the rising cost of diesel and that is what finally, really put him under.
We doubt he will show up on an unemployment report as he was technically an independent businessman and not an employee.
Gas & Diesel problems worldwide are beginning to bite, see what is happening today in England.
Trucker Fuel Protests!
Lorry drivers are to pour into London for what organisers hope will be the largest-ever fuel duty protest in the capital.
Hauliers are angry at soaring fuel prices which have resulted in the average cost of diesel passing far beyond the 120p-a-litre mark.
Led by lorry drivers from Kent, the protest is expected to attract hundreds of hauliers from all around the UK.
The convoy will make its way to central London, parking close to Marble Arch.
Transport for London said the A40 will be closed between White City and Edgware Road, west London, from 10am until 3pm so that demonstrators can park their lorries.
The westbound carriageway of the A40, going out of London, will remain open.
A delegation from the demonstrators will hand a letter to 10 Downing Street demanding the immediate introduction of an essential user rebate which would allow HGV operators to claim some of the fuel duty back.
Mike Presneill, a leading member of Transaction 2007, who is helping to organise the protest, said: "Fuel is rocketing. The Government has the power to act but appears not to be listening. Hundreds of UK transport
firms are being driven to the wall. Thousands of UK jobs are being lost."
We have regular as high as 4.75 now and 5.25 for diesel.. Lowest price for regular is around 4.28 they had to make sure everyone got screwed real good for the holiday weekend..
Saw on CNBC this morning that truckers are having serious problems (like going out of business) and they can't even sell their rigs..
I've seriously thought about going and buying a really nice SUV in the next few months. You can get them dirt cheap(compared to what they would normally sell for) right now as most dealers can't give them away. Seeing as how 5,000 miles a year would be pushing it, gas at $8.00 a gallon wouldn't bother us. Right now diesel around here is at like $4.70 a gallon with 87 right at $4.00.
Stopping the fuel tax is a stupid move. That is what pays for road repair or is supposed to. Trucks pay a milage tax for every mile we run in a state and it doesn't matter if you get ten miles a gallon or two you are charged at a rate of your truck getting 5 miles per gallon. This came about when trucks started getting better milage the states did not want to lose the revenue,
We also pay the government for a Federal highway use tax form 2290 at $550.00 a year for every power unit we have.
Our roads are coming apart now and they are going to drop the fuel tax. At the pump maybe but not the quartlerly fuel tax.