12/19/11, "Missing $4,155? It Went Into Your Gas Tank This Year," AP via CNBC
AP doesn't reveal that the US actually is on track to be a net oil exporter in 2011. It wrecks the entire "Greedy America is robbing everyone else" sales pitch. It says:
(AP): "The U.S. is an oil-importing country, so many of the dollars spent on gas ultimately leave the country instead of being invested here in new ventures and jobs. "...
The AP doesn't say:
11/30/11, "U.S. Nears Milestone: Net Fuel Exporter," Wall St. Journal, by L. Pleven, R. Gold
"U.S. exports of gasoline, diesel and other oil-based fuels are soaring, putting the nation on track to be a net exporter of petroleum products in 2011
for the first time in 62 years.
- upending the historical norm.
According to data released by the U.S. Energy Information Administration on Tuesday, the U.S. sent abroad 753.4 million barrels of everything from gasoline to jet fuel in the first nine months of this year, while it imported 689.4 million barrels."...(remainder of article is subscription)
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And, "Only 12% (of net US petroleum imports) came from Saudi Arabia last year, down from nearly 19% in 1993."...
12/16/11, "Oil boomlet sweeps U.S. as exports and production rise," USA Today, Wendy Koch
"The U.S. exported more oil-based fuels than it imported in the first nine months of this year, making it likely that 2011 will be the first time since 1949 that the nation is a net exporter of such goods, primarily diesel....
"It's dramatic. It's transformative," Edward Morse, a former senior U.S. energy official who now directs global commodities research at Citigroup, says of the historic shifts. He says the U.S. is importing a smaller share — 49% in 2010, down from 60% in 2005 — of the oil it uses, adding: "We're moving toward energy independence."
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This in the midst of near historic prices at the pump which have caused suffering and deprivation in low and middle class families already in a depression and lowered the GDP of the country.
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Big Increase in Gasoline Exports
"The U.S. is also increasing its exports of refined gasoline. U.S.-based refiners are exporting 395,000 barrels per day to other countries. The government report shows those exports have almost doubled since the start of the summer,
- when coincidently, domestic gasoline prices started to fall.
While the U.S. is sending its own oil products abroad, it obviously has less need to import oil from other countries. Economist Joel Naroff, of Naroff Economic Advisors, in Holland, Pa., says that's one big reason the U.S. trade deficit dramatically shrank in July.
“The decline in imports was largely driven by petroleum,” Naroff said....
Oil refiners are private companies, free to sell their products in a global economy to the highest bidder, wherever they can find a market. But one is left to wonder
- what U.S. gasoline and diesel fuel prices would be
- if U.S. petroleum exports remained at normal levels....
In its latest report, the U.S. Energy Information Administration notes U.S. refiners last year shipped 656,000 barrels per day of distillate fuel, which includes heating oil and diesel fuel, overseas. During the first six months of this year, diesel fuel exports averaged 730,000 barrels per day –
- nearly a one-third increase over the previous year.
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Continuing, AP:
"The typical American household will have spent $4,155 filling up this year, a record. That is 8.4 percent of what the median family takes in,
- the highest share since 1981.
Gas averaged more than $3.50 a gallon this year, another unfortunate record. And next year isn't likely to bring relief....
Compared with the year before, American gas consumption has been down every week for more than nine months, according to MasterCard SpendingPulse, a spending survey....-------------------
5/27/11, "Gas tanks are draining family budgets," AP, J. Fahey, via MSNBC
"Every 50-cent jump in the cost of gasoline takes $70 billion out of the U.S. economy over the course of a year, Hamilton says. That's about one half of one percent
- of gross domestic product."...(parag. 13)
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State and local bureaucracies profit when gas prices are high. Every state has a flat excise tax per gallon of gas but most states and some localities add sales tax as well. Per GasBuddy, third column heading "other taxes" shows sales tax. Other taxes included in first heading.
3/25/11, "Calif. making $25 million a month from gas price spike," Orange County Register, Jan Norman
"California’s sales tax rate on gasoline isn’t the highest in the nation, although its total taxes (including excise) on gasoline is the highest at 47.7 cents a gallon.
California charges 2.35% sales tax on gasoline and local governments add 0.1% to 1%. By comparison, Connecticut and Indiana charge 7% sales tax. Michigan charges 6%.The Tax Foundation calculates that Indiana, with the highest sales tax rate, is making 5 cents more for every gallon purchased or
- $202 million in the past year."
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Ed. note: The above article says only 7 states charge sales tax but per GasBuddy, it's many more than that, in fact most states do (noted by a commenter to the article in March 2011:
- "Commenter Freedombiz
"I think that is old info on just seven states. Looks more than 30.
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12/19/11, "EXCLUSIVE: EPA Ponders Expanded Regulatory Power In Name of 'Sustainable Development'," George Russell, Fox News
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High gas prices used to be bad, now they're good. Annoying middle class Americans are forced to stay home, lead to believe we don't have enough oil (since most won't know we're now a net exporter), and will remain mute when their taxes are stolen to finance crony 'green' ventures for millionaires and billionaires like GE's Immelt that will never function anyway according to Allianz Insurance (below):
March 3, 2009, "Immelt: GE Poised to Thrive from ‘Reset’ Global Economy," WSJ
"Mr. Immelt said: “The decline in the price of oil is a negative..."
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11/23/11, "'Green' energy could trigger 'catastrophic' blackouts," UK Telegraph, Matthew Holehouse
"'Unstable' renewable energy sources increase the risk of 'supra-regional' electricity blackouts with multi-billion pound consequences, insurance giant Allianz has warned."
"Solar panels and wind turbines are a "volatile" source of power with fluctuations in the electricity supply risking "grid instabilities" and triggering wide-scale blackouts."...
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Graphs, USA Today, 12/16/11, via Energy Information Admin.
via Tom Nelson
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