Higher Fuel and Gas Prices Coming!

chefdennis

Veteran Expediter
You think we have had high prices for fuel and gas this past year, you ain;t seen nothing yet!!

This Bailout bill is 451 pages long and filled with liitle things like this that have nothing to do with the banking industry,

I ahve been reading it in little bits, here is a nice item that will drive fuel and gas prices higher then anything we have seen.

Page 234, TITLE IV - Revenue Provisions, Sec 401

LIMITATION FOR DEDUCTION OF INCOME ATTRIBUTABLE TO DOMESTIC PRODUCTION OF OIL, GAS, OR PRIMARY PRODUCTS THEREOF

Effective January 1, 2009, the tax deduction for discovery, pumping, production, processing, or transport of these products due to domestic production is reduced by 3%.

Yup, that will provide an incentive as Peak Oil hits. This country is run by morons.

Production is going down, natural gas wells are sitting because of the cost to bring them on line right now and then add this to the picture, LOL, and this is just 1 of the many things in this bill that are going to bring this country to its collective knees!!
 

chefdennis

Veteran Expediter
This is as of today and ties directly into this mess. With the details here, add a tax increase to the cost!! LOL!! If it wasn't so sad, it would be funny!

Oil News

Notes from FinancialSense.com, 1st hour broadcast from this Saturday:

-43 minutes into the segment.....
-Energy going lower a deception.
-ASPO Conference-Robert Hirsch, Matt Simmons-everyone said the more you look into production data, the worse it is.
-Worst news: North Ghawar (the king of oil fields) is gone dry. Despite a 3 fold increase in drilling rigs, production has gone down.
-Matt Simmons follow up book to Twilight in the Desert describes claims of Saudi’s claims of going to 11 million barrels a day is pure fantasy by the Saudis to make up lost production. Aramco is blowing smoke about their ‘future fields’.
-Amount of Saudi drilling tripled, production stays flat to slightly negative.
-Inventory levels at historic low levels in US despite demand destruction.
-Supply going down faster than demand by data.
-Auto sales way down domestically, demand destruction hit the markets.
-OECD countries, 7% sales down on autos. Braxil,Russia,India, China countries up 20%, Chinese sales up 40%.
-Overall, demand is up for petroleum on a global perspective.
-Low inventory levels should be national news, but overshadowed by economic news.
-In the very near future about to hit us is Mexico.
-Mexico is critical, and decline rate and rapidity of decline in Cantarell field will impact exports greatly lower in next 18 months, and next 3 years may go to zero.
-Russia version of energy information agency stated that overall production of oil down for last 9 months straight, production during that time frame down 1%, exports down 10%.
-Pullback in demand by OECD countries, but increase in demand by BRIC countries offsetting decline OECD reduction.
-Globally, supply down by Venezuela, Mexico, Saudi Arabia, Russia.
-If we lose 1.5 million barrels a day from Mexico in 3 years, where do we go?

Yeap, we are in fine shape and all will be fine. And america is about to elect a socialist to lead this mess and make it even worse, it that is possible!
 

layoutshooter

Veteran Expediter
Retired Expediter
There will be one bright spot in this mess, one area of stocks that will do VERY well. Just buy into any company that makes vasoline or KY Jelly!!!!!!!!!!!!! Lube 'EM up!!!!! Layoutshooter
 

Turtle

Administrator
Staff member
Retired Expediter
Well, sure, Vaseline is petroleum based. :)

Also, being petroleum based, it will break down the molecular structure of latex, which will weaken it, causing the latex to rupture if it is subjected to any kinds of stresses, like repetitive motions involving friction.

As for Kentucky Jelly, it's not too bad on Melba Toast. Kind of bland, though. I wish it came in jars for easy spreading on toast, instead of those little tubes.
 

layoutshooter

Veteran Expediter
Retired Expediter
Great billboard!! No need to worry about latex when the government is involed. Layoutshooter
 

Jayman

Expert Expediter
I bet Obama knows how to fix this... HA HA HA Yeah...

Gas prices went down recently. I paid the lowest amount I have in quite a while. $3.29 Time will tell what will happen with fuel costs.
 
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layoutshooter

Veteran Expediter
Retired Expediter
Sure he does, he will increase taxes on all fuels and use the money raised to print small books on how to inflate your tires. It will come with a "FREE" tire gauge!!!! Then he will put a special "production incentive" tax on drilling. That tax will be on new oil wells, taxing them at a much higher rate than on old wells and that money will be used to fund "FREE" housing for welfare bunnies!!! It will be passed on to "Acorn" to handle it. Layoutshooter
 

drivingmecrazy

Seasoned Expediter
Higher gas prices will happen or not happen- no matter who is president. And as far as Mccain/palin ticket goes- well I don't trust either one of them!
When a ticket resorts to spreading hate, and trying to instill fear in people- and gets their crowd fired up enough to have someone yell "Kill Him" when refering to the other canidate-
and call themselves christians to boot!!!!!!! Don't just turn away- RUN!!!!!!!!!!!!!!!!!!!
I will be voting for Obama/Biden.
 

Tennesseahawk

Veteran Expediter
Unlike you, I trust Obama.

I trust him to raise our taxes.
I trust him to make our military.
I trust him to encourage ppl to be lazy and live off welfare.
I trust him to keep public schools pumping out stupid zombies.
I trust him to nationalize industry.
I trust him to stifle profit and encourage mediocrity.
I trust him to kowtow to our enemies.
I trust him to trash our rights according to UN doctrine.
I trust him to bolster the socialist mentality of our nation!
I trust him to make Jimmy Carter look like a genius.
 

chefdennis

Veteran Expediter
I will be voting for Obama/Biden.

1st this post isn't about what will happen depending on who becomes president, but one will cost you more if he os elected no matter if you want to believe that or not.

But hey, its always good to hear from the liberal, entitlement people, it just proves that liberalism really is a mental disorder when you read their words.
 

Turtle

Administrator
Staff member
Retired Expediter
Here's the deal (and hopefully it'll be coherent). Anyone who understands human nature on it's most basic level will understand that humans have a vital need of freedom to choose, freedom of voluntary cooperation, freedom to maintain their own moral integrity. Think about those three things for a second. Any social scientist will tell you these are the most basic of human needs required to form a sustainable society, be it a society of two, or a society of 2 billion. And, not coincidentally, these are also the most basic of those inalienable (natural) rights that the Founding Fathers talked about in the Declaration of Independence, life, liberty and the pursuit of happiness.

Directly stemming from the individual's right to choose, of voluntary cooperation, and moral integrity, comes the individual differences among us in things like talent, drive, work ethic, areas of interest, personal appeal, all those things celebrated as the individual, all those individuals and individual things working in voluntary cooperation with moral integrity that makes society one that flourishes.

Enter the liberal mind, where the vital roles of free choice, voluntary cooperation and moral integrity are utterly dismissed out of hand as being irrelevant. Enter a liberal political leader who says he embraces the individual differences among us with regard to personal drive, work ethic, personal appeal, individual interest, and then promptly wants to impose social and economic equality among us, for the good of the people, and thereby strip each and every one of us of our individuality. When it's a legislator who imposes these restrictions by way of over-taxing the citizens and over-regulating personal drive, work ethic, freedom of voluntary cooperation and the freedom to choose, then the freedom to think for oneself is diminished, thereby corrupting one's character, individuality is destroyed, and relegating the populace to nothing more than wards of the state.

This is human nature, and there's no getting around it. Whenever laws are made that go against these basics of human nature, laws that ignore the essential realities of the human condition, the individual is destroyed, and the society that they make up is destroyed right along with it.

The mind is a terrible thing to waste. If only liberals would be content merely to waste it. No, they want to utterly destroy it, by destroying everything that make it an individual mind. This, of course, comes from the liberal mind being one that simply hasn't grown up. Entitlement, indulgence, envy, these are the primitive claims of the infant, and of the infantile, and not coincidentally the claims of liberals.

Why would anyone want a political system that restricts personal freedom instead of enhancing it; denounces personal responsibility instead of promoting it; surrenders personal sovereignty instead of honoring it; attacks the philosophical foundations of liberty instead of defending them; encourages government dependency instead of self-reliance; and undermines the character of the people by making them wards of the state?

I don't have the answer to that question, other than perhaps there is some mental disorder involved, because any rational thinking individual mind would want nothing to do with it, but the the question is part and parcel of the liberal mind, because everything that liberals want to accomplish is right there in that question.
 
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