oil/gas prices

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KU40

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oil/gas prices

As some of you in the UK may have heard, Americans are making a huge stink about gas prices going up, currently at about $3.50 US per gallon. A lot of them apparently don't realize how actually lucky we are for it to be that low, since in many european and other countries it's as much as 5-6 dollars per gallon. Oil companies are making record profits and account for about 57% of the price of oil in the US. the government actually only accounts for 14% here. However I've read that government taxes are actually as much as 75% in European countries. I was just wondering about your guys' thoughts on this. Are you guys upset at your government for taking so much and driving the price even higher? So many people in american think it's all President Bush's fault because he has oil interests in his family, but they don't realize how little he actually affects it I think.

al8301

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I know the government quite

I know the government quite frequently back down from increasing the level of tax on petrol/diesel (currently around thr 75%-80% mark). I don't have a car so I'm not affected as directly as most. With the price of oil being so high the government are getting an unexpected tax benefit which may help reduce the impact of the current economic slowdown.

The unusual thing is that there is no tax on aircraft fuel but there is on train fuel meaning it's cheaper for me to fly from Birmingham to Edinburgh than get the train - not very environmentally friendly.

It does amuse and surprise me in equal measure that the US are annoyed about the increase in fuel prices when their fuel is a lot cheaper than most of the rest of the developed world.

KU40

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well, unfortunately I think

well, unfortunately I think that's because so many americans are spoiled little 10 year olds.  The price of gas was so low in the 90's  that they got used to it and think it should never go up, even with  inflation. Now the dollar is dropping like a rock and that's not helping either.

 But it's really not that hard to get around.  I've started riding my bike to work every day that I can.  Not only do I save on fuel costs but it makes me feel great getting exercise and being outside, since my job right now is 100% office.

SBtinka

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I am an American and I hate

I am an American and I hate to say it but, most Americans are not really mad about the price it is the stinkin government that we have that thinks they can get by with everything {most part have} Because we stopped putting out foot down and let them take over. I think it is time for us Americans to stand up once again -we have the power not the government! They dont have enough jails to hold us all if we all wanted to do somthing.


Val....

KU40

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well I'm an American too,

well I'm an American too, but you must not be from around where I am.  I can't go a day without hearing somebody talking about the gas price and can't turn on the tv without hearing something on the news.  Not to mention all the strikes people put on, like not filling up gas on one day or the nation's truckers stopping on the side of the road wherever they are for one day.

 After talking to people and doing research for about a week it seems that inflation or the bad economy/lowering value of the dollar bill is the biggest problem.  and it seems nothing is going to change that other than people just getting out and spending their money.  But obviously you have to have a job and make the money in the first place to spend it.  So sort of a see-saw battle there.

hypocentre

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KU40 wrote: As some of you

KU40 wrote:

As some of you in the UK may have heard, Americans are making a huge stink about gas prices going up, currently at about $3.50 US per gallon. A lot of them apparently don't realize how actually lucky we are for it to be that low, since in many european and other countries it's as much as 5-6 dollars per gallon.

Just to let you know that we are now paying £1.10 / litre (unleaded) which is £5 / imperial gallon which I make $8.12 / US gallon


Geologists like a nappe between thrusts

KU40

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wow

hypocentre wrote:

Just to let you know that we are now paying £1.10 / litre (unleaded) which is £5 / imperial gallon which I make $8.12 / US gallon

wow that's just crazy. At least most of you guys and other Europeans aren't in love with big trucks and SUV's like a lot of us are. Imagine paying that and getting 10 mpg in some of these big things we drive over here! You guys are smart and use little cars that get 30+ mpg, which is really just starting to catch on in the US.

Just as an aside, the UK doesn't produce much oil, does it? Where do you guys import from?

al8301

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I think we used to have a

I think we used to have a surplus of North Sea oil here in the UK. I doubt we do anymore and not too sure where it is imported from. West Africa & Saudi are top of my guessing list.

hypocentre

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UK

It's complicated. North Sea production is on the wane so we've only recently become a nett importer of oil. UK crude tends to be sulphur poor (or sweet) so a lot is actually exported and we import cheaper sulphur rich Saudi crude which we have the technology to crack.

(Natural) Gas is increasingly being imported from Norway and Russia.

By the way of the $8.12 / US gallon, $4.87 is tax (66p/litre = 60%)


Geologists like a nappe between thrusts

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