Comments on: Gasoline Crosses $5.00 per Gallon Threshold

By: John

John — Wed, 11 Jun 2008 23:14:40 +0000

Good article, One thing that most people do not realize is the amount of money the government taxes for gas in relation to what the oil companies make from a gallon of gas. Oil companies are pulling only two to three percent while the govt is raking in about 18 percent with additional taxes charged by local and state governments in the US. So the politicians bicker about a company actually making a profit for exploration, refining, transport ect to bring the product to market while the govt taxes and does nothing to provide the product to the public. It is time for people to hold the govt accountable for their actions and inaction in solving this problem. The US is sinking very fast. Estados Undidos is very accurate. The govt has done nothing but sabotage the currency, run up uncontrollable deficits, and taken away the rights of the people. It certainly is on the fast road to irreversible financial collapse. 2/3 of the GDP in the US is consumer goods. Manufacturing and Industry has moved overseas. What happens when the next bubble bursts (Credit) and people are no longer able to borrow to purchase things? Most people in the US do not realize what a critical situation they are in and what the future holds. Their arrogance has caused them to be dumbed down to believe that this could never happen. Gas prices will be the least of concerns when people cant put food on the table.

By: Tamar

Tamar — Wed, 11 Jun 2008 15:10:29 +0000

Dear Tim,

Very nice article where you hit some serious points.

I live in Costa Rica myself and see the prices rising too. Not only for gasoline, but also for almost everything else. I completely agree with your point of view that the government(s) need to take responsability in this matter.

Still for me the fuel here is very cheap. I come from the Netherlands where the precies rise almost every two weeks. Just like here the governments blames it on the high oil prices and even tries to make us happy with the words that the prices don’t rise SO hard because of the strong Euro. Currently a gallon of gasoline costs $8,70 (and on the highways even more). Besides the gasoline prices it’s exremely expensive to even OWN a car. Yearly taxes, maintenance, or even the buying itself, everything is taxed by the government.

And does it work? In my opinion not. There are more cars then ever there. The roads are full… Still a lot of people prefer their car over the public transport, for various reasons.

I think that no matter what, no matter how high the prices get, people wil keep paying for their own transportation. Like you said, people are prepared to give up other things first.

Let’s see what the future brings us :).

So far my reaction on your blog. Keep posting! Although this is my first reaction I always read your blog with pleasure :).