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Old 03-18-2011, 08:16 PM
 
30,794 posts, read 17,133,545 times
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Quote:
Originally Posted by Memphis1979 View Post
I don't have a link off hand, but I heard the something similar on Morning Joe the other morning.

I don't remember if it was every cent, or every 10 cents, but it was a low number.
I really don't have a problem if it is true....

However, if I said, well I "heard".....that gas is going to be .20 cents a gallon....within the next 6 months....

Would I be chastised or would I be praised? Without providing a link....
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Old 03-18-2011, 08:31 PM
 
8,581 posts, read 8,952,844 times
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Quote:
Originally Posted by NHartphotog View Post
If gas prices went to $1.99 by virtue of oversupply or reduced refinery costs, all three levels of government would immediately raise their gas taxes by $2.00, and the owner of the gas station would do the same. The new price would be $9.99 a gallon, upon which the three levels of government would raise all their taxes massively to provide gas subsidy programs for the poor and needy.
Ahhh.....that is the point the government needs to get its hands out of the mix. We could bring the price down if we wanted to ...right now every one we are buying oil from must be wondering what the hell is wrong with us"actually they are thanking the American left" for preventing us from putting more supply into the market.
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Old 03-18-2011, 09:26 PM
 
24,131 posts, read 17,743,946 times
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Quote:
Originally Posted by chucksnee View Post
Come on....really....

I have read some of your post and agree and disagree with them.....

But this post ....really...provide a link please....

Every one penny increase in gasoline is then worth about $1 billion in household energy consumption. « InvestmentWatch
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Old 03-18-2011, 09:34 PM
 
3,283 posts, read 4,575,052 times
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Quote:
Originally Posted by silas777 View Post
What do you think would happen if Gas price's were forced below 2 dollars a gallon! The economy would explode, and the unemployment rate would plummet.
oil will go up to $5.50 then down to $2.50 when we cut back. over 6 months, the 3rd world will pick up demand and gas will go to $6. demand will fall and gas will go down to $3, then back up to $6.50, down to $3.50, up to $7.

that is the way it's going imo. the solution is to plan as if gas is $10, natural gas doubled, electric tripled and water quadrupled. that's my personal advice
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Old 03-18-2011, 09:44 PM
 
30,794 posts, read 17,133,545 times
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You know....in a link that has this >>>>> don’t <<<<< in the verbiage, I really find it hard to believe anything in the link what so ever....
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Old 03-18-2011, 09:52 PM
 
Location: Charleston, SC
5,615 posts, read 12,468,360 times
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Quote:
Originally Posted by silas777 View Post
What do you think would happen if Gas price's were forced below 2 dollars a gallon! The economy would explode, and the unemployment rate would plummet.
To me personally? I'd still drive the same amount... gas isn't a big expense now because my car gets over 40mpg.
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Old 03-18-2011, 09:54 PM
 
Location: San Antonio Texas
11,435 posts, read 16,011,047 times
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Quote:
Originally Posted by NHartphotog View Post
If gas prices went to $1.99 by virtue of oversupply or reduced refinery costs, all three levels of government would immediately raise their gas taxes by $2.00, and the owner of the gas station would do the same. The new price would be $9.99 a gallon, upon which the three levels of government would raise all their taxes massively to provide gas subsidy programs for the poor and needy.
Gas taxes are added by the gallon, not the price of the gasoline. It's always been that way. In fact, I would go on record to say that should gas prices drop precipitously that ppl would drive more and actually increase the state/fed coffers. When ppl drive less and fill up the tank less, this actually costs the governments.
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Old 03-18-2011, 10:06 PM
 
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Quote:
Originally Posted by wehotex View Post
Gas taxes are added by the gallon, not the price of the gasoline. It's always been that way. In fact, I would go on record to say that should gas prices drop precipitously that ppl would drive more and actually increase the state/fed coffers. When ppl drive less and fill up the tank less, this actually costs the governments.
Bingo ! Kind of like lowering tax rates and increasing the tax base.
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Old 03-18-2011, 10:14 PM
 
Location: Texas
5,778 posts, read 6,688,192 times
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While it's a nice idea, the price of gas and oil doesn't really have ANY effect on unemployment. Gas could go to $.99/gal and while it would increase the consumer consumption effect through a influx of cash (which is never a bad thing), and while corporation would see a huge windfall through the reduction of transportation costs. Neither will effect unemployment or have a major stimulative effect on the economy by themselves.

The equation for price elasticity is not as weighted on the positive (cash in-flows to consumer) as it is on the negative (cash out-flows...price increases).

But it still would be nice.
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Old 03-18-2011, 10:17 PM
 
8,581 posts, read 8,952,844 times
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Quote:
Originally Posted by txgolfer130 View Post
While it's a nice idea, the price of gas and oil doesn't really have ANY effect on unemployment. Gas could go to $.99/gal and while it would increase the consumer consumption effect through a influx of cash (which is never a bad thing), and while corporation would see a huge windfall through the reduction of transportation costs. Neither will effect unemployment or have a major stimulative effect on the economy by themselves.

The equation for price elasticity is not as weighted on the positive (cash in-flows to consumer) as it is on the negative (cash out-flows...price increases).

But it still would be nice.
So in other words , if all else is equal but gas goes to 10 dollars a gallon it wont stifle employment?
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