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Wasn't this done before under Bush or Obama, when gas was over $4 a gallon? As I recall the same remarks were made. Was that tax holiday ever implemented back then?
I would rather he did NOT do that.... it will cost the government billions of dollars for infrastructure
look at the numbers
Americans use 369 million gallons of GASOLINE per day (strictly talking gasoline, not home heating oil, nor diesel
that's 66,420,000 (66.4million) dollars a day, NOT GOING TO THE GOVERNMENT
x 90 days (he want it for 3 months)... that's 5,977,800,000 dollars not going to fixing roads and bridges...so in essence, what he is doing, is negating/diminishing the infrastructure bill that he signed...IOW, more democratic wasteful spending/debt/deficit
I heard on TV this morning that 5 refineries were currently shut down, but according to this article, there are 8 refineries that have shut down since the start of the global pandemic resulting in a loss of nearly 1 million barrels per day of oil refining capacity. See https://www.reuters.com/business/ene...hy-2022-06-17/
Quote:
Originally Posted by JimRom
Considering that the most likely outcome of a gas tax holiday is increased demand which will drive prices up further, that’s exactly what I’d rather.
I would rather he did NOT do that.... it will cost the government billions of dollars for infrastructure
look at the numbers
Americans use 369 million gallons of GASOLINE per day (strictly talking gasoline, not home heating oil, nor diesel
that's 66,420,000 (66.4million) dollars a day, NOT GOING TO THE GOVERNMENT
x 90 days (he want it for 3 months)... that's 5,977,800,000 dollars not going to fixing roads and bridges...so in essence, what he is doing, is negating/diminishing the infrastructure bill that he signed...IOW, more democratic wasteful spending/debt/deficit
The US has spent $60 BILLION on Ukraine. That's $60 billion that didn't go to roads or bridges in the United States. I bet we built some bridges in Ukraine though.
We don’t have to assess and find, we already know where oil is and the oil companies have thousands of unused leases. As far as drill and refine, that is not under government control.
The truth is that the number of rigs drilling for oil in the U.S. is steadily climbing. The year-over-year increase in the Baker Hughes North America Rig Count is now about 60%. In fact, historically it has rarely climbed at a faster pace than this..... The rig count is steadily rising, but it is still significantly below the drilling levels prior to the Covid-19 pandemic...... Between February and July 2020, the rig count plunged by over 70% as demand for oil plummeted.
That was under Trump’s term, and no I am not blaming him, but if the President couldn’t affect the number of oil rigs then, how can the President affect it now?
The bottleneck is on the refining end. That is where the issues are, and where the costs come from. Regulations, the pandemic, and increased demand are the factors causing this.
Regulations started decades ago, resulting in the closing of 66 refineries.
The Energy Policy Act of 2005 created the Renewable Fuel Program that mandated the use of renewable fuels in gasoline. That act required the production of 7.5 billion gallons of renewable fuels for 2012. The Energy Independence and Security Act of 2007 increased the target volume to 36 billion gallons by 2022, mandating that 15 billion gallons could be from corn-based ethanol and the remainder had to come from advanced biofuels, namely cellulosic ethanol.
The U.S. Environmental Protection Agency has rejected so far one petition from an oil refiner to be exempted from the nation's biofuel blending laws for the 2019 compliance year, EPA's website showed on Friday.
government pressure to wean the country off of fossil fuels has made business difficult, with Flynn arguing that "refineries are getting squeezed out of business because of stricter regulations from the Biden administration and the pressure by the government" to "reduce demand for gasoline."
We are encountering the perfect storm, of issues which are to blame. As much as we do need to eventually transition to less reliance on fossil fuels, we will be paying the price until we get there.
The bottleneck is on the refining end. That is where the issues are, and where the costs come from. Regulations, the pandemic, and increased demand are the factors causing this.
Regulations started decades ago, resulting in the closing of 66 refineries.
The Energy Policy Act of 2005 created the Renewable Fuel Program that mandated the use of renewable fuels in gasoline. That act required the production of 7.5 billion gallons of renewable fuels for 2012. The Energy Independence and Security Act of 2007 increased the target volume to 36 billion gallons by 2022, mandating that 15 billion gallons could be from corn-based ethanol and the remainder had to come from advanced biofuels, namely cellulosic ethanol.
The U.S. Environmental Protection Agency has rejected so far one petition from an oil refiner to be exempted from the nation's biofuel blending laws for the 2019 compliance year, EPA's website showed on Friday.
government pressure to wean the country off of fossil fuels has made business difficult, with Flynn arguing that "refineries are getting squeezed out of business because of stricter regulations from the Biden administration and the pressure by the government" to "reduce demand for gasoline."
We are encountering the perfect storm, of issues which are to blame. As much as we do need to eventually transition to less reliance on fossil fuels, we will be paying the price until we get there.
And if the Houston Galveston area has to build that Ike **** to protect the environment and the refinery and chemical companies on the ship channel we will be paying through the nose for the next 50 years. Let the end user pay. We see idiots burning a 1/2 gallon of gasoline leaving traffic signals daily. Those clueless idiots who like fast cars have no idea about supply and demand. It hurts all of us.
I'd vote for anybody who owns a vehicle getting a coupon that allows them one tank a week. We did it in the war and people survived.
And if the Houston Galveston area has to build that Ike **** to protect the environment and the refinery and chemical companies on the ship channel we will be paying through the nose for the next 50 years. Let the end user pay. We see idiots burning a 1/2 gallon of gasoline leaving traffic signals daily. Those clueless idiots who like fast cars have no idea about supply and demand. It hurts all of us.
I'd vote for anybody who owns a vehicle getting a coupon that allows them one tank a week. We did it in the war and people survived.
Be sure to keep your usage down then. I'm going the opposite way, and am looking forward to the week off I have over the 4th. I'll be loading the truck up, and trailering my SxS and ATV for a week of riding at our cottage 4 hours away. I'll also be burning some fuel in the boat while there. Then the rest of the summer I plan on putting some miles on my collector car...just mindlessly cruising around.
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