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2008-05-06 Home Front: Politix

Clinton: OPEC 'can no longer be a cartel'

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Posted by gorb 2008-05-06 13:38|| || Front Page|| [4 views ] Top

#1 Saw an article the other day in the Cinci Enquirer or some such about reducing the fed gas tax as a bad thing? They had several economists saying that getting rid of the fed gas tax even for a short period of time would hurt the consumer in the long run - I couldn't understand it? Maybe one of you can explain or my original assumption is that the newspaper itself was just wrong.

Posted by Broadhead6 2008-05-06 17:00|| 2008-05-06 17:00|| Front Page Top

#2 For Pets's Sake lets forget about ANWAR, an oil there is at least ten years away because there is no infrastructure. We should be drillin in our half of the Bekkan Formation in N. Dak and in the TWO new fields in the Gulf of Mexico... we could get oil form them by August!

Posted by Uloluck Lumumba9816 2008-05-06 17:21|| 2008-05-06 17:21|| Front Page Top

#3 Broadhead6, reducing the gas tax lowers prices thereby (theoretically) increasing consumption thereby increasing prices. Most likely this is what would happen. We have a finite refining capacity and when consumption reaches that capacity there ain't no more. Scarcity would drive prices even higher in the short ter until consumption again is reduced to below refining capacity.

Posted by Deacon Blues">Deacon Blues 2008-05-06 19:03|| 2008-05-06 19:03|| Front Page Top

#4 I'd like to see the public rise up and DEMAND the Donks bend and allow ANWR drilling, Gulf drilling, CA and FLA drilling. That won't happen til there's critical mass of outraged drivers and peopel suffering price increases. Start now! Letters to teh Ed in local papers, letters to your congresscritter, unpleasant questions at voter gatherings. If we don't do it now (election time), we'll wait two years. Op DrillNow!

Posted by Frank G">Frank G 2008-05-06 19:14|| 2008-05-06 19:14|| Front Page Top

#5 DB - thanx for the response. That's essentially what the article said. I wasn't sure if taking off $.18 a gal would really do all that.

Instead of threatening the oil co.'s the gov't should be providing them incentives to finding new & realistic alt fuels.

Posted by Snash Oppressor of the Mohammatans aka Broadhead6 2008-05-06 21:15|| 2008-05-06 21:15|| Front Page Top

#6 Boneheads.

Its odd the Democrats pass legislation preventing us from developing VAST oil fields in the Gulf of Mexico and also preventing construction of new refining capacity. THEN they scream and caterwaul at big oil for making money because of these market twisting rules and regulations/restrictions.

We should let em drill anywhere they find oil. We should be doing everything we can to encourage oil companies develop domestic capacity.

I think a tax incentive on finding domestic oil would do a lot....come to think of it how about giving them exemptions on environmental regs to allow them to expand refining capacity.

Also stop the AQMD silliness of having different gasoline blends for each major city. How about one or two blends, that would help the price of oil and help buffer the refining capacity.

Posted by Ebbatle Protector of the Leprechauns7911 2008-05-06 22:22|| 2008-05-06 22:22|| Front Page Top

#7 And get rid of these 95 different summer blends - that should ease capacity.

Posted by anonymous2u 2008-05-06 23:46|| 2008-05-06 23:46|| Front Page Top

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