Starkiller wrote:
> On Sat, 10 May 2008 14:08:59 -0700, Rudy Canoza
> <pipes@[EMAIL PROTECTED]
> wrote:
>
>> Starkiller wrote:
>>> On Sat, 10 May 2008 03:16:56 -0700 (PDT), Mack the Knife
>>> <bulldog101750@[EMAIL PROTECTED]
> wrote:
>>>
>>>> On May 9, 10:54 am, "Eddie Haskell" <k...@[EMAIL PROTECTED]
> wrote:
>>>>> "Starkiller" <NoSpam.SKS_SK...@[EMAIL PROTECTED]
> wrote in message
>>>>>
>>>>> news:ukf824hf05636lsckig3c76amsa0torm1m@[EMAIL PROTECTED]
>>>>>
>>>>>
>>>>>
>>>>>
>>>>>
>>>>>> On Fri, 9 May 2008 02:51:13 -0700 (PDT), traveler
<Vallec...@[EMAIL PROTECTED]
>
>>>>>> wrote:
>>>>>>> On May 7, 4:05 pm, duke <duckgumb...@[EMAIL PROTECTED]
> wrote:
>>>>>>>> On Wed, 07 May 2008 15:06:23 -0700, The Pope Wears Prada
>>>>>>>> <The_Pope@[EMAIL PROTECTED]
> wrote:
>>>>>>>>> Gas prices at the pump do not yet reflect the current price of
oil on
>>>>>>>>> the world's commodities market. The price of oil has risen so
fast in
>>>>>>>>> such a short period of time, from $60 a barrel at the beginning
of 2007
>>>>>>>>> to over $120 a barrel now. The gas that is being sold today
reflects
>>>>>>>>> the
>>>>>>>>> price paid for oil on the futures market many months ago when
gas was
>>>>>>>>> between $60 and $90 a barrel. As the months roll by, the price
of gas
>>>>>>>>> will reflect a higher and higher price of oil. It is inexorable.
>>>>>>>>> Expect $5 a gallon gas by year's end and $6 a gallon by the end
of
>>>>>>>>> 2009.
>>>>>>>>> And no amount of drilling in ANWR or anywhere else will reverse
this
>>>>>>>>> price rise.
>>>>>>>> But drilling off the Calee-fornia and west coast, the
Massachusetts and
>>>>>>>> east
>>>>>>>> coast, the Florida coasts will definitely put us in self
sufficiency.
>>>>>>>> However, the 'rats in these area reject drilling because their
ocean
>>>>>>>> views will
>>>>>>>> be tainted.
>>>>>>> He calls "rats" the people who actually care about the
environmental
>>>>>>> destruction left in the wake of the oil boys, who don't give a
good
>>>>>>> goddamn about anything, who ruin everything they touch, and who
are
>>>>>>> the very people becoming unimaginably wealthy by saddling the rest
of
>>>>>>> us with their phony price of oil and gas. When these bastards
start
>>>>>>> filing into prison, we will know that something FINALLY is being
done.
>>>>>> How is the price of oil phony when it is the same worldwide?
>>>>>> Why is it that you spoiled little assholes think that the US
deserves
>>>>>> a better price than everyone else in the entire world?
>>>>>> And while your at it I'm sure you can give us a long list of all
the
>>>>>> things that "big oil" has ruined yes?
>>>>> Democrats oppose increasing domestic production, new refineries,
ANWR and
>>>>> nuclear power and then blubber and moan about high gas prices and
blame
>>>>> everybody but themselves. They're like little idiot children that
cause
>>>>> suffering for the adults.
>>>>>
>>>>> -Eddie Haskell- Hide quoted text -
>>>>>
>>>>> - Show quoted text -
>>>> I'm not a Democrat, I'm an ex-Republican and an Independent. I got
>>>> sick of morons like you taking over the Republican Party. If you
>>>> think the high price of gasoline has anything to do with any of the
>>>> things you mention, then you are even dumber than you sound. Catch a
>>>> clue, son. Go to college.
>>> Folks in Venezuela, Iran, Kuwait etc pay only pennies a gallon because
>>> their countries produce more oil than they can use themselves.
>> Folks in Venezuela, Iran, Kuwait pay pennies a gallon because their
>> governments heavily subsidize the stuff.
>
> Regardless, they produce enough that THEY AREN'T PAYING $120 a barrel
> for it. They're the ones getting paid $120 a barrel. Take Kuwait for
> example.
Of course they pay $120 a barrel for it, you idiot. Don't you know
*anything* about economics?
> Kuwait has proven crude oil reserves of about 96 billion barrels (15
> km³), i.e. about 10% of world reserves. Petroleum accounts for nearly
> half of GDP, 90% of ex****t revenues, and 5% of government income.
> Kuwait lacks water and has practically no arable land, thus preventing
> development of agriculture. With the exception of fish, it depends
> almost wholly on food im****ts. About 75% of potable water must be
> distilled or im****ted. Higher oil prices reduced the budget deficit
> from $5.5 billion to $3 billion in 1999.
The Kuwaiti government's revenues due to oil are a lot higher than 5%.
The GDP of Kuwait was $137 billion in 2007, and government revenue was
$33.6 billion. Oil and petrochemicals-related activity account for 95%
of GDP.
>
> The government has sponsored many social welfare, public works, and
> development plans financed with oil and investment revenues. Among the
> benefits for Kuwaiti citizens are retirement income, marriage bonuses,
> housing loans, virtually guaranteed employment, free medical services,
> and education at all levels.Kuwait also provides fully paid
> scholar****ps for students wi****ng to study abroad. Kuwaiti government
> also will send citizens abroad for treatment if the treatment is not
> available in Kuwait. Foreign nationals residing in Kuwait obtain some,
> but not all, of the welfare services. The right to own stock in
> publicly traded companies, real estate, and banks or a majority
> interest in a business is limited to Kuwaiti citizens and citizens of
> GCC states under limited cir***stances. Kuwaiti citizens and residents
> enjoy 0% income tax.
>
> They get that from their income from petroleum.
Right. And if they sold all their oil at world prices, they'd have more
revenue to spend on those other things. Kuwaitis are not paying
"pennies" per gallon of gasoline: that may be what they pay
out-of-pocket, but they pay a lot more in the form of forgone income.
>
> Do you think that they would be pumping gas at their pumps for 60 or
> 70 cents per gallon if they weren't pumping 2 million barrels a day
> for ex****t?
They pay a lot more than 60 or 70 cents per gallon for gasoline, even if
that's all they're paying at the pump. They're paying the difference
between their retail price and the rest-of-world price in the form of
forgone income. If you knew anything about economics, you'd know this.
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