No quick fix for high gas prices

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GasBuddy News Article

No quick fix for high gas prices Sunday, July 20, 2008
The Sentinel online -- With the summer half over, it was probably too late anyway, but it looks pretty clear now that whatever slim hope American drivers had for a summer gas tax holiday has vanished like an ice cube in a heat wave. A few months ago, as gas prices did their quick run-up to $4-plus, both Republican presidential nominee-to-be John McCain and former Democratic candidate Hillary Rodham Clinton called for a 90-day suspension of the federal fuel excise tax. Democratic nominee-apparent Barack Obama scoffed at the notion, since it would put roughly $40 back in drivers’ pockets. That $40 per driver — the bounty realized from shaving 18.4 cents off a gallon of gasoline (24.3 cents on diesel fuel) — adds up to about $9 billion for the federal government to spend on highway maintenance and construction, however. And Congress finally woke up to the fact that less work on roads wouldn’t just more potholes and rough roads for drivers — or the occasional bridge collapse — it would cause job losses
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	Sunday, July 20, 2008 The Sentinel online -- With the summer half over, it was probably too late anyway, but it looks pretty clear now that whatever slim hope American drivers had for a summer gas tax holiday has vanished like an ice cube in a heat wave. A few months ago, as gas prices did their quick run-up to $4-plus, both Republican presidential nominee-to-be John McCain and former Democratic candidate Hillary Rodham Clinton called for a 90-day suspension of the federal fuel excise tax. Democratic nominee-apparent Barack Obama scoffed at the notion, since it would put roughly $40 back in drivers’ pockets. That $40 per driver — the bounty realized from shaving 18.4 cents off a gallon of gasoline (24.3 cents on diesel fuel) — adds up to about $9 billion for the federal government to spend on highway maintenance and construction, however. And Congress finally woke up to the fact that less work on roads wouldn’t just more potholes and rough roads for drivers — or the occasional bridge collapse — it would cause job losses for thousands of people in the highway construction industry. Visit The Sentinel online for full article

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magnumCA All-Star Author Los Angeles Posts:940 Points:194,425 Joined:Jan 2008	Message Posted: 7/27/2008 2:08:33 AM	Ignore magnumCA Report Abuse
	There is no fix quick or otherwise
SHEP20715 All-Star Author Maryland Posts:658 Points:113,805 Joined:Nov 2007	Message Posted: 7/23/2008 11:53:40 PM	Ignore SHEP20715 Report Abuse
	drill now
WetChicken Rookie Author New Hampshire Posts:50 Points:11,865 Joined:May 2004	Message Posted: 7/21/2008 10:34:38 PM	Ignore WetChicken Report Abuse
	All of these effing clowns that bite their nose off (or get botox in Hillary's case) just have to do something that appears to be good rather than doing something that will be good. Dropping the fuel taxes won't help get this country in the black.
thewiz666 Champion Author Kansas City Posts:2,880 Points:592,830 Joined:Nov 2006	Message Posted: 7/21/2008 3:19:29 PM	Ignore thewiz666 Report Abuse
	kdhloretto has a good start with that theory. For the better good, our Gov't could lie to the world and declare that they're getting into the oil biz, and actually develop oil fields for the visual, but not actually do anything. This would show that we're going on our own, and would cause an oil crash like no other. Now if we could keep a secret...
CrazyQ Champion Author Washington Posts:11,967 Points:1,387,500 Joined:Aug 2004	Message Posted: 7/21/2008 12:35:27 PM	Ignore CrazyQ Report Abuse
	Really, price doubled in the past couple of years; why, Congress. Drill.
HawaiianGuy Champion Author Idaho Posts:1,004 Points:1,403,445 Joined:May 2003	Message Posted: 7/21/2008 12:28:23 PM	Ignore HawaiianGuy Report Abuse
	CruisinLinda's got it right. So, when are our elected representatives going to listen? Or are they too deep into the pockets of the futures market?
CruisinLinda Champion Author Tallahassee Posts:4,238 Points:863,385 Joined:Sep 2005	Message Posted: 7/21/2008 9:17:28 AM	Ignore CruisinLinda Report Abuse
	But here is a quick fix! It took only a year for the price of oil to go from $70 per barrel to $140. The margin requirement is as low as 6 per cent, and the oil-futures market is not registered. The Commodities Futures Trading Commission has sat on its hands as non-consumer speculators ran up the price in oil, as well as other items like gold, bidding against consumers and artificially increasing demand--with as much as 94 per cent borrowed money. The commission could raise margin requirements and limit the participation of non-consumer speculators.
tomok Champion Author Portland Posts:8,100 Points:645,960 Joined:Aug 2006	Message Posted: 7/21/2008 9:12:16 AM	Ignore tomok Report Abuse
	Yeah there is a quicker 'fix.' Produce more alternative fuels using NON FOOD sources. *****Limit the import of OPEC oil and their world terrorism paid with oil money. Drill and produce oil from the east and west coasts. Build more nuclear plants. Produce more renewable energy from solar, wind, tidal, thermal, and hydro sources. -----Support the grid and drive electric vehicles. Restrict foreign production of goods that can be made in the US. Too much money is flowing out of this county for chepaer services and goods made elsewhere. etc., etc., etc., etc. Yeah! there is a quick fix and the sooner something is done - the faster it's here.
Grismer Veteran Author Ontario Posts:254 Points:77,940 Joined:Apr 2008	Message Posted: 7/21/2008 9:09:48 AM	Ignore Grismer Report Abuse
	Count on no fix at all-quick or otherwise.
krucker Sophomore Author Austin Posts:217 Points:353,830 Joined:Aug 2004	Message Posted: 7/21/2008 9:02:20 AM	Ignore krucker Report Abuse
	CAN'T DO THAT!!...Where would the goverment make up the revenue it would lose? They certainly aren't just gonna take a loss.
Gerund1 All-Star Author Toronto Posts:862 Points:793,320 Joined:Apr 2003	Message Posted: 7/21/2008 9:01:03 AM	Ignore Gerund1 Report Abuse
	Time to find something better than putting more holes in the ground. Takes too long and just costs more. Not a real fix.
Hawkeyejd Veteran Author Ontario Posts:310 Points:244,450 Joined:Sep 2006	Message Posted: 7/21/2008 8:58:15 AM	Ignore Hawkeyejd Report Abuse
	What is new????????
kidmikey37 All-Star Author Nevada Posts:502 Points:128,630 Joined:Apr 2008	Message Posted: 7/21/2008 8:57:51 AM	Ignore kidmikey37 Report Abuse
	it was just a short term deal anyhow
china211 Veteran Author Long Island Posts:304 Points:63,100 Joined:May 2008	Message Posted: 7/21/2008 8:55:50 AM	Ignore china211 Report Abuse
	There nver is a quick fix for anything!!!!
kdhloretto Sophomore Author Twin Cities Posts:185 Points:214,815 Joined:Apr 2006	Message Posted: 7/21/2008 8:54:19 AM	Ignore kdhloretto Report Abuse
	You want a quick fix? Actually there is one! Remember about a week ago when GW Bush announced his intention to open up offshore and other areas for drilling by lifting the administrative ban? Oil futures prices took a record nosedive! And that was just talk by a lame duck! If congress actually went forward with almost any sort of plan to open up more exploration areas, we would see a more dramatic effect. I can't say how much it might drop, but it would be safe to say that the prices would at least remain more stable for a long time. This would give more time for research for an true alternative wi9thout killing or economy. (Nothing viable exists now)
hangupanddrive Veteran Author Michigan Posts:461 Points:868,360 Joined:Aug 2005	Message Posted: 7/21/2008 8:51:59 AM	Ignore hangupanddrive Report Abuse
	Stop buying foreign crap! Force the issue of buying American. It can work.
copperhead8 Champion Author Boston Posts:4,893 Points:1,133,970 Joined:Dec 2004	Message Posted: 7/21/2008 8:51:23 AM	Ignore copperhead8 Report Abuse
	Tell me something I don't already know.
AlaRedNeck All-Star Author Kansas Posts:786 Points:137,500 Joined:Apr 2008	Message Posted: 7/21/2008 8:48:57 AM	Ignore AlaRedNeck Report Abuse
	Like I said, new drilling won't help.
roadkillGA All-Star Author Georgia Posts:875 Points:75,090 Joined:Jun 2008	Message Posted: 7/21/2008 8:45:42 AM	Ignore roadkillGA Report Abuse
	This old fish is just being rewrapped.
nightriderKY Rookie Author Lexington Posts:59 Points:19,005 Joined:Jun 2008	Message Posted: 7/21/2008 8:42:04 AM	Ignore nightriderKY Report Abuse
	i agree too.
Gassie1 Champion Author Akron Posts:4,025 Points:492,460 Joined:Apr 2007	Message Posted: 7/21/2008 8:40:55 AM	Ignore Gassie1 Report Abuse
	I agree
nd73 Veteran Author Grand Rapids Posts:338 Points:214,945 Joined:May 2007	Message Posted: 7/21/2008 8:39:53 AM	Ignore nd73 Report Abuse
	America has already curtailed its use of oil. But world oil prices are still up, we are told primarily due to demand in China and India. And why do those countries need more oil? To produce goods to sell to -- Americans! Quick fix: boycott all goods made in China and India.
flatcoatfun All-Star Author Orlando Posts:542 Points:157,595 Joined:Nov 2007	Message Posted: 7/21/2008 8:38:33 AM	Ignore flatcoatfun Report Abuse
	Im glad they finally figured out that a tax holiday won't work - the other news is troubling. Wish they would just cut out their pork projects...
RC_RACER All-Star Author Tacoma Posts:860 Points:203,250 Joined:Jun 2004	Message Posted: 7/21/2008 8:35:57 AM	Ignore RC_RACER Report Abuse
	yesterdays news, same response.
Schwartzmdja Veteran Author Oklahoma City Posts:390 Points:123,540 Joined:Mar 2008	Message Posted: 7/21/2008 8:35:56 AM	Ignore Schwartzmdja Report Abuse
	read this yesterday
CTgasman01 Rookie Author Connecticut Posts:92 Points:19,380 Joined:Jun 2008	Message Posted: 7/21/2008 8:31:23 AM	Ignore CTgasman01 Report Abuse
	So, How is doing nothing helping?
throttle Champion Author Maryland Posts:4,212 Points:950,175 Joined:Jul 2004	Message Posted: 7/21/2008 8:29:49 AM	Ignore throttle Report Abuse
	The quick fix is to drive less.
Don20 Champion Author Oklahoma City Posts:1,170 Points:941,955 Joined:Mar 2005	Message Posted: 7/21/2008 8:28:31 AM	Ignore Don20 Report Abuse
	It could be done if they really want to.. But why should they.? they must be forced to lower prices...
canescommuter All-Star Author Greensboro Posts:559 Points:115,115 Joined:Feb 2008	Message Posted: 7/21/2008 8:27:20 AM	Ignore canescommuter Report Abuse
	Bad idea then, bad idea now. Highways are already in bad enough shape. Imagine how much worse with the lack of funding. Also, who wants to be on the back end just before taxes go back up. Can you imagine the gas lines the week before? Stupid idea from stupid people.
Chris46 Champion Author Dayton Posts:5,797 Points:668,270 Joined:Sep 2005	Message Posted: 7/21/2008 8:26:18 AM	Ignore Chris46 Report Abuse
	Yep
rbdesigns Veteran Author Modesto Posts:370 Points:102,820 Joined:May 2008	Message Posted: 7/21/2008 8:25:01 AM	Ignore rbdesigns Report Abuse
	No quick fix, but it sure didn't take very long for prices to jump up more than a dollar! That was just last year when it was around $3 a gallon.
my3sons Champion Author New York Posts:1,253 Points:794,855 Joined:Aug 2005	Message Posted: 7/21/2008 8:22:48 AM	Ignore my3sons Report Abuse
	lowering big oil profits would help or large extra taxes on their gains
myromeo Sophomore Author Missouri Posts:158 Points:108,880 Joined:Nov 2005	Message Posted: 7/21/2008 8:22:01 AM	Ignore myromeo Report Abuse
	now we can't take money out of the underpaid congressmen pocket & pet projects that would be wrong of us [Edited by: myromeo at 7/21/2008 10:23:13 AM EST]
spikenla Rookie Author Louisiana Posts:33 Points:16,245 Joined:Jun 2008	Message Posted: 7/21/2008 8:20:57 AM	Ignore spikenla Report Abuse
	a tax break would have only made the problem worse
WillyG Champion Author Cincinnati Posts:1,204 Points:435,050 Joined:Aug 2005	Message Posted: 7/21/2008 8:20:01 AM	Ignore WillyG Report Abuse
	There may not be a quick fix, but let's do a long and damaging fix to the oil companies. Let's switch to something else on our next car purchase. It should take 3-4 years max in which we can get them to choke on their oil.
PathfinderSC All-Star Author South Carolina Posts:772 Points:140,480 Joined:Mar 2008	Message Posted: 7/21/2008 8:17:12 AM	Ignore PathfinderSC Report Abuse
	Boone Pickens plan may be worth looking into , But this no good Congress would stop it . We need a time limit on Congress, we have a 4 year limit on Governors, Presidents why not on Congress? [Edited by: PathfinderSC at 7/21/2008 10:18:19 AM EST]
Terryforegolf Veteran Author Lansing Posts:485 Points:303,100 Joined:Dec 2006	Message Posted: 7/21/2008 8:13:01 AM	Ignore Terryforegolf Report Abuse
	I agree with Ikozark
Ladyjam81 Rookie Author Texas Posts:72 Points:16,590 Joined:Oct 2005	Message Posted: 7/21/2008 8:12:51 AM	Ignore Ladyjam81 Report Abuse
	We know there is no quick fix!!!! Looking for long term solutions so we are not put in this situation again!!!
z1000 All-Star Author Indianapolis Posts:794 Points:137,380 Joined:May 2007	Message Posted: 7/21/2008 8:12:28 AM	Ignore z1000 Report Abuse
	Who needs $40 per driver when the Bush Rebates ($600/person) are out? Does anyone even remember what happened to their money? Mine's gone in a flash...
krell58 Champion Author Missouri Posts:4,078 Points:814,130 Joined:Apr 2006	Message Posted: 7/21/2008 8:12:24 AM	Ignore krell58 Report Abuse
	Watch the Energy Non Crisis. http://tinyurl.com/33l95c
amacquarrie Rookie Author Nevada Posts:96 Points:29,325 Joined:Jun 2008	Message Posted: 7/21/2008 8:09:39 AM	Ignore amacquarrie Report Abuse
	90-day suspension is not a fix... how about we stop giving them kick backs???
lkozark Veteran Author Missouri Posts:408 Points:145,175 Joined:Jul 2007	Message Posted: 7/21/2008 8:07:42 AM	Ignore lkozark Report Abuse
	With Big Oil reporting profits up 20% over last year, maybe they could lower things 15% and still make record profits!
MitchelSdReview Veteran Author South Dakota Posts:443 Points:83,505 Joined:Jun 2008	Message Posted: 7/21/2008 8:07:12 AM	Ignore MitchelSdReview Report Abuse
	The best fix, replace the bums.
cudatim All-Star Author San Antonio Posts:597 Points:325,500 Joined:Jan 2007	Message Posted: 7/21/2008 8:06:32 AM	Ignore cudatim Report Abuse
	I'm just as glad they didn't put the gas tax break into effect. Imagine the sticker shock at the pump if prices keep rising anyway and then all of a sudden the tax is added back; what a jump that would be.
rvnvet70 Champion Author Michigan Posts:1,477 Points:919,050 Joined:Sep 2005	Message Posted: 7/21/2008 8:06:13 AM	Ignore rvnvet70 Report Abuse
	We should have drilled back 20 years ago.
GaryDavis77 Sophomore Author Washington Posts:151 Points:128,400 Joined:Apr 2004	Message Posted: 7/21/2008 8:04:25 AM	Ignore GaryDavis77 Report Abuse
	Change the politicians and let the new ones know that we will not tolerate high gas prices.
proverbs3 Rookie Author Detroit Posts:67 Points:21,610 Joined:May 2008	Message Posted: 7/21/2008 8:03:36 AM	Ignore proverbs3 Report Abuse
	I'm not one to advocate paying more taxes, but I must agree with Obama's opinion. Did I actually say that I agree with Obama? Shoot me now!
acknot All-Star Author Seattle Posts:556 Points:577,930 Joined:Sep 2003	Message Posted: 7/21/2008 8:02:42 AM	Ignore acknot Report Abuse
	Obviously their is no quick fix. Its just been going up for the past year and the politicians can't even stop it from rising. You think the American people even have an inkling of faith in their goverment to fix it?
ftsgt Champion Author Illinois Posts:4,754 Points:1,029,360 Joined:Dec 2004	Message Posted: 7/21/2008 8:02:38 AM	Ignore ftsgt Report Abuse
	if only something had been done back in the 90's or earlier then we wouldnt be in this mess
Marson All-Star Author Pennsylvania Posts:762 Points:429,865 Joined:Oct 2006	Message Posted: 7/21/2008 8:02:13 AM	Ignore Marson Report Abuse
	Congress is now talking about a 10 cent increase, so the road construction jobs will flourish before the election.