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You might have noticed the spectacular collapse of global crude oil prices reflected in the commensurate reduction of your weekly gasoline bill. Gas prices are lower, much lower, than they were just a few months ago. For Washington D.C., that represents an opportunity. Even for congressional Republicans, even a little bit more money in your wallet presents a chance to hike your taxes.
“Global Warming” Fee Added to Calif. Gas Prices – Before Sales Tax!
The state is charging gas retailers a new “global warming” cap-and-trade fee and retailers are passing the cost to consumers, but the consumer sales tax is calculated from the full pump price, which includes the cap-and-trade fee.
“The global warming fee, which is variable and could soar in the future, added about a dime this week,” Dan McSwain of UT San Diego said. “Then the state adds 2.25% of the full retail price – including those other fees and taxes – while city and county sales taxes add more (0.5% in most of San Diego County).”
Many drivers haven’t noticed the increase yet due to the plummeting gas prices, but they will eventually because the $0.10 per gallon fee is not a set price – it’s determined by California’s “cap-and-trade” market in which various industries trade their permits covering specific amounts of emissions, the total of which is capped by the state.
In other words, the “global warming” fee can go up.
“In August, California’s legislative analyst estimated that, by 2020, retail prices were likely to rise between 13 cents and 20 cents a gallon because of cap-and-trade,” McSwain added. “But the analyst, Mac Taylor, warned that increases could exceed 50 cents in some cases.”
“And an oil-industry group warned the costs could spike to 76 cents, based on state figures.”
originally posted by: neo96
Raise bloody hell to your congressman, and tell them hell no on raising the gas tax.
originally posted by: Stormdancer777
a reply to: stosh64
I wish I could cuss.
Temperatures on the red planet were warmer on Thursday than fourteen states from Washington to Maine
Read more: www.dailymail.co.uk...
originally posted by: neo96
a reply to: olaru12
Corporate masters eh?
Who is it that want's to increases taxes here?
When they blow what they already take from us.
Think you mean the D and R Kleptocrats.
They raise the gas tax., and when oil rebounds, and IT WILL REBOUND. We will really get screwed.
Not only gas prices, but on food, and other products.
originally posted by: Stormdancer777
‘Fears of man-made global warming exaggerated’
Read more at:
economictimes.indiatimes.com...
originally posted by: Aloysius the Gaul
Well y'all are complaining about the country being trillions in debt and political gridlock......so you should be applauding this bipartisan approach to solving that problem!!
originally posted by: neo96
a reply to: olaru12
Corporate masters eh?
Who is it that want's to increases taxes here?
When they blow what they already take from us.
Think you mean the D and R Kleptocrats.