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Old 07-16-2013, 02:18 PM
 
14,295 posts, read 8,610,441 times
Reputation: 4249

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The EPA's agenda to save the world from global warming with ethanol mandates, is causing food and gas pump prices to soar, but don't bother asking why they would do this "during the worst economy since the Great Depression" because Obama and his EPA could give a rat's ass about you and me, and what this is doing to blow up our household budgets.

Some people think the answer is to mandate even more ethanol production to offset higher oil prices, which will only acerbate things and prices to go up further.

The Renewable Fuel Standard (RFS) sets annual mandates for renewable transportation fuels sold or introduced into commerce in the United States. The current RFSsets mandates through 2022. The Renewable Identification Number (RIN) system was created by the U.S. Environmental Protection Agency to facilitate compliance with the RFS.

How RINs Became Gasoline's Four-Letter Word | Zero Hedge

Ethanol Slips Versus Gasoline as RIN Price Signals

Back in April we showed "Why RINs Could Be 2013's 4-Letter Word For Gas Prices." Now that that gas prices have soared to their highs just in time for summer driving season and are about to take out the 2011 all time summer highs, it is time to look back at what the RIN chart is showing. In a nutshell, nothing good, if only for that statistically irrelevant sampling of the population that relies on internal combustion engines to get from Point A to Point B (after all, the Fed says gas prices are non-core, and why would the Fed lie: obviously Joe Sixpack buys a $5,000 hedonically-adjusted 80 inch LCD TV far more often than he has to hit the pump).

The chart in question:

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Old 07-16-2013, 02:21 PM
 
13,084 posts, read 8,186,657 times
Reputation: 5807
I blame supply and demand. China, Brazil, and India have a large number of people entering the middle class and using a lot of oil.
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Old 07-16-2013, 02:26 PM
 
Location: Stasis
15,834 posts, read 10,780,409 times
Reputation: 8571
Quote:
Originally Posted by OICU812 View Post
The EPA's agenda to save the world from global warming with ethanol mandates, is causing food and gas pump prices to soar,
The premise in your very first sentence is wrong. Food and gas prices are not soaring. So your claim that RINS and RFS and RTFMAOS are causing price increases is wrong.
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Old 07-16-2013, 02:29 PM
 
Location: Stasis
15,834 posts, read 10,780,409 times
Reputation: 8571
I have no idea what the scary chart is supposed to show. Please explain.
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Old 07-16-2013, 02:42 PM
 
Location: Calgary, AB
3,401 posts, read 2,036,157 times
Reputation: 1072
I take issue with the claim that gasoline in the US is expensive. Or why someone is obliged to see to it that it isn't, for that matter. Wah! Mommy! The price of gas makes me sad! Change it!
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Old 07-16-2013, 02:49 PM
 
Location: Barrington
54,340 posts, read 37,998,167 times
Reputation: 17631
Anyone else thrilled to read a thread that is not about GZ?
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Old 07-16-2013, 02:53 PM
 
34,623 posts, read 18,823,743 times
Reputation: 16225
Quote:
Originally Posted by Seabass Inna Bun View Post
I take issue with the claim that gasoline in the US is expensive. Or why someone is obliged to see to it that it isn't, for that matter. Wah! Mommy! The price of gas makes me sad! Change it!
Regardless of whether you think gas is expensive or not, our food and gas prices are higher than they would normally be due to a mandate that exists to benefit certain members of congress and their big ag cronies.
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Old 07-16-2013, 05:47 PM
 
Location: New Orleans, La. USA
6,241 posts, read 3,124,509 times
Reputation: 2459
Quote:
Originally Posted by OICU812 View Post
The EPA's agenda to save the world from global warming with ethanol mandates, is causing food and gas pump prices to soar, but don't bother asking why they would do this "during the worst economy since the Great Depression" because Obama and his EPA could give a rat's ass about you and me, and what this is doing to blow up our household budgets.

Some people think the answer is to mandate even more ethanol production to offset higher oil prices, which will only acerbate things and prices to go up further.

The Renewable Fuel Standard (RFS) sets annual mandates for renewable transportation fuels sold or introduced into commerce in the United States. The current RFSsets mandates through 2022. The Renewable Identification Number (RIN) system was created by the U.S. Environmental Protection Agency to facilitate compliance with the RFS.

How RINs Became Gasoline's Four-Letter Word | Zero Hedge

Ethanol Slips Versus Gasoline as RIN Price Signals

Back in April we showed "Why RINs Could Be 2013's 4-Letter Word For Gas Prices." Now that that gas prices have soared to their highs just in time for summer driving season and are about to take out the 2011 all time summer highs, it is time to look back at what the RIN chart is showing. In a nutshell, nothing good, if only for that statistically irrelevant sampling of the population that relies on internal combustion engines to get from Point A to Point B (after all, the Fed says gas prices are non-core, and why would the Fed lie: obviously Joe Sixpack buys a $5,000 hedonically-adjusted 80 inch LCD TV far more often than he has to hit the pump).

The chart in question:

Exxon, Chevron Made $71 Billion Profit In 2012 As Consumers Paid Record Gas Prices | ThinkProgress


Oil corporations are making near record profits. Could this be a cause of high gas prices?

But since republicans will not raise taxes on large corporations and use that money to give regular Americans relief, and since republicans are against any regulation on what oil corporations can charge for gas, I guess republicans are forced to blame Obama and the EPA.

Last edited by chad3; 07-16-2013 at 06:51 PM..
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Old 07-16-2013, 06:58 PM
 
Location: New Orleans, La. USA
6,241 posts, read 3,124,509 times
Reputation: 2459
Quote:
Originally Posted by OICU812 View Post
The EPA's agenda to save the world from global warming with ethanol mandates, is causing food and gas pump prices to soar, but don't bother asking why they would do this "during the worst economy since the Great Depression" because Obama and his EPA could give a rat's ass about you and me, and what this is doing to blow up our household budgets.

Some people think the answer is to mandate even more ethanol production to offset higher oil prices, which will only acerbate things and prices to go up further.

The Renewable Fuel Standard (RFS) sets annual mandates for renewable transportation fuels sold or introduced into commerce in the United States. The current RFSsets mandates through 2022. The Renewable Identification Number (RIN) system was created by the U.S. Environmental Protection Agency to facilitate compliance with the RFS.

How RINs Became Gasoline's Four-Letter Word | Zero Hedge

Ethanol Slips Versus Gasoline as RIN Price Signals

Back in April we showed "Why RINs Could Be 2013's 4-Letter Word For Gas Prices." Now that that gas prices have soared to their highs just in time for summer driving season and are about to take out the 2011 all time summer highs, it is time to look back at what the RIN chart is showing. In a nutshell, nothing good, if only for that statistically irrelevant sampling of the population that relies on internal combustion engines to get from Point A to Point B (after all, the Fed says gas prices are non-core, and why would the Fed lie: obviously Joe Sixpack buys a $5,000 hedonically-adjusted 80 inch LCD TV far more often than he has to hit the pump).

The chart in question:
In 2011, Exxon paid just 13 percent in taxes, while many small businesses are paying over 30%.

Why not make Exxon pay over 30% like small businesses have to pay, and then that money could be used to give regular Americans some kind of relief?

Answer: Republicans won't do that because it would be "income redistribution."
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Old 07-16-2013, 07:12 PM
 
34,623 posts, read 18,823,743 times
Reputation: 16225
Quote:
Originally Posted by chad3 View Post
In 2011, Exxon paid just 13 percent in taxes, while many small businesses are paying over 30%.

Why not make Exxon pay over 30% like small businesses have to pay, and then that money could be used to give regular Americans some kind of relief?

Answer: Republicans won't do that because it would be "income redistribution."
Why not lower the tax burden on small business instead of raising it on exxon et al. to gift the federal government with more of our hard earned money?
Anyway, its we regular american consumers who pay Exxon's taxes at the pump, so don't pull our leg that raising them will give us some relief.
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