Low gas price means more gas tax

[Bill Cummings]

With the price of oil so low how long do you think it will take the House or the Senate to come up with a bill to bolster our bridges and highway infrastructure fund by means of an increase in the gas tax. The average tax payer is a low information worker with not enough time to even see what’s coming. The tax will pass with little outcry. Then when the price of gas goes back to up to where it was it will of course be even higher due to the (coming for sure) tax increase.
Just watch. I’m pretty sure I’ll be right on this prophecy. In my lifetime I remember when gas was thirty five cents a gallon. My motor bike a Honda Super 90 would take me over 100 miles on 1 gallon of gas. (for $0.35/gal.)

[SamKellner]

Bill,

You will surely be proven correct to some degree.

What has really effected the global prices so much to drive down crude? I didn't ever think that would happen.

I remember gas was $.32 a gallon here. One dollar's worth would allow me to tear up and down main street half the night.

Those that have been more recently making all the profit off the gas industry are probably gonna miss the fat wallet soon and come up with

some scam.

[wingspan33]

Here in NYS we have something like $.20 tax already on every gallon of gas. If you hop over into Pennsylvania you can often pay 20 cents (or more) less per gallon.

And here's a few ideas on why the price is dropping so much -

#1) Maybe - ISIL is selling cheap (stolen) crude oil on the market. Like the one cheap gas station in town, often all the other gas stations drop their price to match.

#2) Maybe - The United Arab Emirates are afraid of ISIL gaining enough strength to invade their own countries and want the US on their side to help with a fight - if things come to that. Result, make NICE with the oil Price.

#3) Maybe - With the possibility of the Keystone Pipeline (carrying Canadian shale oil into the US) as well as increased hydro-fracing activities in the US, OPEC wants to make such operations less economically feasible - so we'll keep buying their product.

#4) Maybe - Lockheed Martin recently announced that it believes that they can build an efficient (and relatively small) Nuclear Fusion plant. At this point they are looking for other business and/or government entities who may contribute some intellectual and financial support towards the project. They already have some significant "breakthrough" ideas of their own. If this works out to be successful, in not that many years, every citizen of the US could be driving electric cars that are powered (charged up) by way of CHEAP electricity. The form of electricity that is no longer produced by coal, oil or natural gas burning power plants.

As to raising taxes on "cheaper" gasoline? As I mention above, NYS gas taxes are already too high IMHO.

[SamKellner]

Thanks wingspan,

[Bob Kuczewski]

Bill,

You will surely be proven correct to some degree.

I agree. Bill's got a good insight into the operation of Government.   

Good comments from Wingspan and Sam as well. I remember gas prices around 25 cents a gallon. My Dad would typically pull up at a station and say "Two dollars worth" to the attendant. I remember it very well because my brother and I would use that phrase whenever we were pretending to be driving. We were so young that I don't think we even understood what "two dollars" was, but we knew my Dad would always say it.

Yup, 25 cents a gallon, and a fellow would actually pump the gas for you ... and clean your windshield to boot.

[Bill Cummings]

And show you your oil level on the dip stick.

[Bill Cummings]

With the price of oil so low how long do you think it will take the House or the Senate to come up with a bill to bolster our bridges and highway infrastructure fund by means of an increase in the gas tax. The average tax payer is a low information worker with not enough time to even see what’s coming. The tax will pass with little outcry. Then when the price of gas goes back to up to where it was it will of course be even higher due to the (coming for sure) tax increase.
Just watch. I’m pretty sure I’ll be right on this prophecy. In my lifetime I remember when gas was thirty five cents a gallon. My motor bike a Honda Super 90 would take me over 100 miles on 1 gallon of gas. (for $0.35/gal.)

Oh you would never guess what subject came up in the news? Who possibly would ever have seen this coming?
http://www.realclearpolitics.com/articles/2015/02/05/ombs_donovan_obama_open_to_gas_tax_increase_125508.html