Gas Prices still falling, must be Obama's fault

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posted on Dec, 17 2012 @ 12:56 PM
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The Fed tax on each gallon of gas in 2012 is 18.4 cents, 24.4 for diesel. Then the States/Cities/Locals add their amount, so total tax per gallon across the country ranges from 26.4 (gas in Alaska) to 79.5 (diesel in California).

That's a mighty chunk of revenue generated at our expense, and it is static no matter how much prices fluctuate at the pump. Why would the hungry government machine care what we spend, as their piece stays the same?

Think of the revenue California must generate on gas, 69 for gas and 79.5 for diesel per gallon, less the 18.4/24.4. $0.506 for every gallon of gas and $0.551 for every gallon of diesel. About 15 million Californians drive their own car to work every day. I wouldn't know where to find how many OTR truckers refuel in Cali each day but must imagine the number is higher than any other state.

Then as you are pondering how much California rakes in, think about it at the Federal level... How much, and where does that money go?

Gas Price Watch




posted on Dec, 17 2012 @ 01:17 PM
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During Reagan's administration, the Federal gas tax jumped from 4c/gallon to 9.0c/gallon April'83, then to 9.1c January'87.
During Bush Sr's, jumped from 9.0 to 14.1 December'90 (Desert Shield/Storm probably)
and there it stayed until
Clinton's administration, jumped from 14.1 to 18.4 (current) October'93.

Almost 20years at 18.4c/gallon Federal tax.

TaxFoundation.org



posted on Dec, 17 2012 @ 03:36 PM
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or it could be the people behind the curtains fluctuate it when they want to sway people and keep us happy. low gas prices are relative. ten years ago the prices we have now would cause a war. think man, think.you actually believe that the gas prices are set so low that the powers that be dont make a buck? one tenth of a penny you see taken off of a gallon adds up to more than enough money to make me rich for life in one week. i DO NOT equate gas prices to political crap. they raise prices, stress us out for a bit to squeeze every penny out of us and keep us just under even financially, then lower so we think, whoo, i feel better and not stay mad. then, raise em again.



posted on Dec, 17 2012 @ 03:59 PM
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reply to post by NinjaKitteh
 
Lets see is it 1.85 a gallon yet? Nope it is 3.29 a gallon, and that's not cheap. So what are you really gloating about?



posted on Dec, 17 2012 @ 04:45 PM
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Originally posted by NinjaKitteh
Can you believe what he's done now? He's keeps causing the gas prices to go lower and lower! Where will it end? Something has to be done to stop him or we'll be getting cheaper gas than we did 10 years ago!


It wouldn't be because the traders in the futures market are dumping oil because they know we are heading for an economic collapse after the first of the year, would it? With an expected big decrease in business and incomes there will not be as large of need for oil products or gas.



posted on Dec, 17 2012 @ 05:17 PM
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While I can't disagree that Obama is helping to lower gas prices, I can't take the stance, which I'm inferring is shared by you, that he has much to do with it at all. While gas price is as hot of a topic as health care and unemployment for the political theatre, there are very few government officials that have anything to do with setting/maintaining/changing prices beyond the negotiating federal and state transportation tax side of it.

The larger Financial firms like Vitol SA, Goldman Sachs, Morgan Stanley, Barclays, JP Morgan & Chase, Deutsche Bank, Credit Suisse, Lehman Brothers, Merrill Lynch, etc... historically, and presently, influence the per barrel price of oil more than anyone else without ever refining the first drop for consumers and their Chevy Volts to save MPGs with.

Now, that being said, I would tend to support the argument that Obama is in fact lowering gas prices by letting Bush-era tax cuts to expire, focusing on the capital gains side of those cuts. The expiration of these tax cuts are effectively saying, to just about anybody that actively trades but certainly the big guys;"if you have any positions you've been waiting to take your gains on, do it before next year."

Simply, oil speculators are selling now to take profits before the tax hikes. This is why oil prices have been slipping. The answer to your question is; that it is irrelevant in the sense that it implies causality to a non-affecting variable and that the only way a politician could, legally speaking, affect gas prices would be indirectly.



posted on Dec, 17 2012 @ 06:39 PM
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I doubt the POTUS has anything to do either way with gas prices, I never thought I'd see the day when I though 2.80 (the current price here) was cheap. 9 years ago when I got my license, gas was steadily arour 1.50 a gallon it more than doubled in 4 years. Who's at fault? I don't know.



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