Rail transit is about to make you some big money…in oil.That’s why I’ll be headed to Dallas in late August and Calgary mid-September for extensive meetings with all of the key players.
Tag Archive for Gas Prices
These Gas Tax Hikes Will Make Driving A Lot More Expensive- Money Morning
by David Zeiler •
Americans worried about how rising oil prices might affect prices at the pump are about to get blindsided by looming gas tax hikes that almost guarantee higher gasoline prices.
And it’s not just state governments looking to shake down American motorists.
Alarmingly, the International Monetary Fund (IMF) has called for the U.S. government to increase the current federal gasoline tax of $0.184 per gallon by a whopping $1.40.
In a March 26 speech, IMF Deputy Director David Lipton said the gas tax hike would pay for social programs around the world as well as to save the environment.
“The time has come for subsidy reform and carbon taxation,” Lipton said.
This federal gas tax hike, if imposed, would add $14 to a typical 10-gallon fill-up and hundreds of dollars to the annual cost of driving.
Fortunately for U.S. drivers, few in Washington support the IMF proposal.
“Higher gas prices hit those who can least afford it the most as American families are forced to pay a larger percentage of their income on higher energy prices,” Rep. Fred Upton, R-MI, chairman of the House Energy and Commerce Committee, told Fox Business. “Drivers across the country are already struggling to pay up to $4.00 a gallon for gas, and further price increases at the pump could be devastating to low- and middle-class families and disastrous to our economic recovery.”
Now if only state legislatures felt the same way…
Why Oil Prices Aren’t Coming Down Despite Big U.S. Oil Boom – Money Morning
by David Zeiler •
This is a syndicated repost courtesy of Money Morning. To view original, click here. The dual promise of the U.S. shale oil boom was that it would reduce our dependence on foreign oil and lower oil prices that would benefit U.S. consumers via cheaper gasoline. But while U.S. oil production continues to rise, and gasoline…
Why Gas Prices Will Continue to Climb – Money Morning
by Ben Gersten •
This is a syndicated repost courtesy of Money Morning. To view original, click here. The average price of gas in the United States is still below the 2012 average of $3.63 for a gallon of regular, but that won’t be true for long. Gas prices have risen every day for three weeks, and motorists are…
Media Reports on Retail Sales Were Dead Wrong – Sales Were Strong
by Lee Adler •
Retail Sales and Real Retail Sales ex Gasoline This report is excerpted from the permanent chart page for Retail Sales and Consumer Sentiment indicators, updated June 13, 2012 Real retail sales, ex gasoline prices, and adjusted for inflation have been increasing at an annual rate of between 0 and 7.5% since 2010. The year to…
Where Are Oil Prices Headed?
by Diane Alter •
The uncertainty looming around worldwide economies sent oil prices sinking below $90 a barrel yesterday (Wednesday), a level not seen since October of last year.
Benchmark crude slid $1.95 Wednesday to finish the day at $89.90 per barrel.
The decline came on the heels of several weeks of slipping oil, sparked by a plethora of less than stellar economic reports. The concerning data mostly involved Europe’s ongoing sovereign debt saga.
Oil gained 0.5% in early afternoon New York trading Thursday, but the reasons for the rally were unclear.
“You don’t know if this is just a short-covering rally or the start of a more significant rally,” Andy Lebow, an oil analyst with Jefferies, told The Wall Street Journal. Lebow said that progress in the talks between Iran and Western powers about Tehran’s nuclear ambitions could have spurred Thursday’s price reversal.
If the gain isn’t maintained, however, prices could head closer to $85 a barrel.
May 20, 2012 posted by: Mari Lou-WGMD News – WGMD Radio
by Newswires •
KEZI TVMay 20, 2012 posted by: Mari Lou-WGMD NewsWGMD RadioOver the past 6 weeks – gas prices have been on the retreat. Since early April, the price at the pump has dropped 23 cents a gallon. On Sunday the national average for regular unleaded is at …
US Gasoline Falls to $3.78 a Gallon – Bloomberg
by Newswires •
News10.netUS Gasoline Falls to $3.78 a GallonBloombergThe average price for regular gasoline at US filling stations fell 6.19 cents in the past two weeks to $3.7833 a gallon, according to Lundberg Survey Inc. The survey covers the two-week period ended…
Real Deal on Retail- Even Worse Than They Said
by Lee Adler •
The headline number for retail sales today was an increase of 0.1% month to month, seasonally adjusted, which exactly met the conomic consensual sextimate of 0.1%. Here’s how Bloomberg put it. U.S. Retail Sales Cool After Warm-Weather Spree: Economy Retail sales rose in April at the slowest pace of the year as Americans took a…
More Memorial Day travelers expected to hit the road – Fox News
by Newswires •
WKBW-TVMore Memorial Day travelers expected to hit the roadFox NewsWhile high gas prices may keep people closer to home this year, more Americans will still be hitting the road this Memorial Day weekend than last. AAA projects that 34.8 million America…