$5 Gas in 2012?

[mrsleeve]

^

Just came in here to post that, I read that this morning


Will post the full WSJ article when I get to my computer

[rwh11385]

Good news for US, bad news for people who expect more oil production to equate to lower prices (Newt):

http://blogs.wsj.com/economics/2012/11/12/dont-expect-lower-oil-prices-even-as-u-s-output-surges/

The U.S. is set to overtake Saudi Arabia as the world’s largest oil producer. But don’t expect that to translate into lower prices at the pump.

Oil is a global commodity. What matters for prices is total supply and total demand — not where the oil is produced or consumed. That means that even if the U.S. relied only on domestically produced oil, prices would still be dictated by global market forces.

http://bostonglobe.com/business/2012/11/13/top-oil-producer-report-says/SUXn644IY1VqNZaS7rTFRN/story.html

That increased oil production, combined with new US policies to improve energy efficiency, means that the United States will become ‘‘all but self-sufficient’’ in meeting its energy needs in about two decades — a ‘‘dramatic reversal of the trend’’ in most developed countries, the report says.

The report also predicted that global energy demand would grow by 35 to 46 percent between 2010 and 2035, depending on whether policies that have been proposed are actually put in place. Most of that growth will come from China, India, and the Middle East, where the consuming class is growing rapidly.

The reduced US reliance on coal will just mean that coal moves to other places, the report says. And the use of coal, now the dirtiest fuel, continues to rise elsewhere. China’s coal demand will peak around 2020 and then stay steady until 2035, the report predicted, and in 2025, India will overtake the United States as the world’s second-largest coal user.

The report warns that no more than one-third of the proven reserves of fossil fuels should be used by 2050 to limit global warming to 2 degrees Celsius, as many scientists recommend.

Such restraint is extremely unlikely without a binding international treaty by 2017 that requires countries to limit the growth of their emissions, Birol said. He added that pushing ahead with technologies that could capture and store carbon dioxide was also crucial.

“The report confirms that, given the current policies, we will blow past every safe target for emissions,’’ Levi said. ‘‘This should put to rest the idea that the boom in natural gas will save us from that.’’

http://www.businessweek.com/news/2012-11-12/renewables-to-rival-coal-for-power-generation-in-2035

Renewable energy is set to rival coal as the main generator of the world’s electricity by 2035

Wind farms, solar parks and hydroelectric dams are forecast to become the second biggest power generator in 2015 and rise to almost a third of all generation in 2035, a level approaching that of coal, the Paris-based agency that advises 28 nations on energy policy said today in its annual outlook.

Although the self-sufficiency won't make gas cheaper necessarily in the US, people will benefit from higher efficiency vehicles and the US will dramatically benefit from the effects on trade balance.

[dirtysix]

All that said NZ is one place I want to visit for about month someday, for a hiking trip and maybe a Red stag hunt .

You'd be most welcome, just don't try to bring your own gun :p

[tjts1]

Doesn't change the fact that healthcare in Australia is free.

[mrsleeve]

we have a good amount of taxes built into our fuel prices too, but most are hidden in the production, and transportation costs. Our retail taxes are low, with 18.4 cents on gas and 24.9 cents on diesel per gallon at the federal level, then you have a varying amounts of state and local rates. Then in you live a state that has a sales tax you have another 4-6% on it all as well. Either way at the retail level its less than a dollar, other than maybe the Bay area of CA.


And just from reading the title of the ACC, I knew that could lead no where good, so I didnt go any further into that.


All that said NZ is one place I want to visit for about month someday, for a hiking trip and maybe a Red stag hunt .

[dirtysix]

Are you sure about that


Excise taxes on fuel in NZ as of 1 October 2010 totals 48.524 cents per liter (or $1.84/US gal) and then your national compulsory Accident Compensation Corporation motor vehicle account receives 9.34 cents/litre (or 35.4¢/US gal). Then on top of everything you pay a 15% goods and services tax.

So lets see here 1.84 + 35 = 2.51 USD, IN PURE TAX figure a standard commodities pricing at about 3.25 USD = another 49 cents in Goods and services taxes on the gas portion alone.


SO to summarize in USD, $3.25 (base commodity price) + $1.84 ( excise tax) + .35 (Comp Corp) = $5.44 * 15% G&S tax = $6.25 USD Add to the fact your an Island and everything has to be shipped in, you have a little bit of shipping and you get get your 6.60 USD.

to put it another way 48 % of your at the pump price for fuel is TAX or a tax rate of 96ish% on fuel at the retail level. if we use your 6.60 rate you drop to 46% of your pump price is taxation..........

Now what your country uses all that money for I dont know, but in the bulk of the world the high fuel taxes are used to help fund the "Free" health care provided by said government

You're absolutely right, well maybe I didn't bother checking your numbers ha, but out of $2.20/lt pump price approx 90c of that is the cost of the fuel. Curiously, said to be the 5th lowest fuel taxation worldwide. Hard to believe but anyway.

And it still doesn't cover the current cost of building and maintaining the roading network.

For your sake, I'm not going into ACC. You'd have a coronary. ;-)

[cale]

its $5.70 per gallon in my part of Australia right now
.
.
....but free healthcare

Nothing is free, it's just worked into your taxes.

[mrsleeve]

So do we. And yet we still pay about $6.60 US/gal. (converted for you backward waffleswaffleswaffleswaffless).

Go figure.

Are you sure about that


Excise taxes on fuel in NZ as of 1 October 2010 totals 48.524 cents per liter (or $1.84/US gal) and then your national compulsory Accident Compensation Corporation motor vehicle account receives 9.34 cents/litre (or 35.4¢/US gal). Then on top of everything you pay a 15% goods and services tax.

So lets see here 1.84 + 35 = 2.51 USD, IN PURE TAX figure a standard commodities pricing at about 3.25 USD = another 49 cents in Goods and services taxes on the gas portion alone.


SO to summarize in USD, $3.25 (base commodity price) + $1.84 ( excise tax) + .35 (Comp Corp) = $5.44 * 15% G&S tax = $6.25 USD Add to the fact your an Island and everything has to be shipped in, you have a little bit of shipping and you get get your 6.60 USD.

to put it another way 48 % of your at the pump price for fuel is TAX or a tax rate of 96ish% on fuel at the retail level. if we use your 6.60 rate you drop to 46% of your pump price is taxation..........

Now what your country uses all that money for I dont know, but in the bulk of the world the high fuel taxes are used to help fund the "Free" health care provided by said government

[dirtysix]

In America we pay for our fuel and health care separately.

So do we. And yet we still pay about $6.60 US/gal. (converted for you backward waffleswaffleswaffleswaffless).

Go figure.

[tjts1]

In America we pay for our fuel and health care separately.



For now

Yeah you tell him Mrsleeve! We're not dirty fucking socialists like Australia. We're sooo much better than that.

[mrsleeve]

In America we pay for our fuel and health care separately.



For now


Darrin: Refined fuels are a globally traded commodity, and in general other than a few % either way for local supply issues and refinement requirements , its the same price around the world just like crude oil is. So the cost for the RAW PRODUCT your buying is THE FUCKING SAME here as it is most any other place in the world. When you have govts that need pay for shit, they look to taxing shit and fuel is a biggie, because you have to have it and will buy it no matter what, or how much it costs. And I am arguing without the taxes here as well.

and did brave just defend me................... Wow thats odd, but thanks

[J3M93]

Yeah 'free' uh huh

really really really really subsidised, universal healthcare*

there you go, mate :)

[LBJefferies]

its $5.70 per gallon in my part of Australia right now
.
.
....but free healthcare

Yeah 'free' uh huh

[tjts1]

its $5.70 per gallon in my part of Australia right now
.
.
....but free healthcare

You dirty liberal swine! You should be ashamed of yourself you freeloader :D

[J3M93]

its $5.70 per gallon in my part of Australia right now
.
.
....but free healthcare