Glenn Beck Stumbles Headlong Into Irrelevancy - Page 13 - Mercedes-Benz Forum

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post #121 of 185 (permalink) Old 04-08-2008, 03:01 PM
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Originally Posted by FeelTheLove View Post
I would like someone here to tell me how Chavez is worse than the brutal fascists who run Saudi Arabia.
He is not worse. He is hated by some in America because he refuses to kiss American ass. Apparently that pisses some folks off.

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post #122 of 185 (permalink) Old 04-08-2008, 03:12 PM
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Originally Posted by QBNCGAR View Post
In case anyone else is interested in reducing our dependency on foreign oil, here's some interesting information.
TIPS ON PUMPING GAS


Nothing is more frustrating than the feeling that every time I fill-up the tank, I am sending my money to people who are trying to kill me, my family, and my friends.

I thought it might be interesting for you to know which oil companies are the best to buy gas from and which major companies import Middle Eastern oil.

These companies import Middle Eastern oil:

Shell....................... 205,742,000 barrels
Chevron/Texaco........ 144,332,000 barrels
Exxon/Mobil............. 130,082,000 barrels
Marathon/Speedway.. 117,740,000 barrels
Amoco.......................62,231,000 barrels

Citgo gas is from South America , from a Dictator who hates Americans. If you do the math at $30/barrel, these imports amount to over $18 BILLION! (oil is now $90 - $100 a barrel)
I had another e-mail sent to me indicating Citgo is changing names, since sales are down in the wake of Chavez rhetoric.
Here are some large companies that do not import Middle Eastern oil:

Sunoco................0 barrels
Conoco................0 barrels
Sinclair................0 barrels
BP/Phillips............0 barrels
Hess...................0 barrels
ARCO..................0 barrels

If you go to Sunoco.com, you will get a list of the station locations near you.

All of this information is available from the Department of Energy and each is required to state where they get their oil and how much they are importing.
Here is a direct link to that DOE source. Download the XLS Spreadsheet. Some of the data above is a bit off [as BP West Coast gets some of its oil from Iraq as an example] but the resource is very good.

Company Level Imports

Good find.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
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post #123 of 185 (permalink) Old 04-08-2008, 03:36 PM
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Originally Posted by FeelTheLove View Post
I'm always amused when the Right Wing Nut Jobs call him a "dictator". Chavez was popularly elected time after time, in fact he has more legitmacy as president of VZ then Bush does after stealing the election of 2000.
"...popularly elected..." What the hell are you on today?

Don't believe everything you think
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post #124 of 185 (permalink) Old 04-08-2008, 09:35 PM
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"...popularly elected..." What the hell are you on today?
Apparently he is ON you. Dick head.

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post #125 of 185 (permalink) Old 04-22-2008, 07:49 PM Thread Starter
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I'm.....it's.....no, look.....just.....unghh.....(sigh)

Economics 101: The Price of Gas - Sterling T. Terrell - Mises Institute
Economics 101: The Price of Gas
Daily Article | Posted on 4/22/2008 by Sterling T. Terrell


Gas prices are up and oil executives are once again testifying before Congress. Clearly, many politicians, pundits, and consumers lament the rising cost of gas. Before we join them in their chorus, let us take a step back and ask this question: Are gas prices really all that high?

A change in price can be a result of inflation, taxes, changes in supply and demand, or any combination of the three.

First, we need to take into account inflation. The result of the Federal Reserve printing too much money is a loss of purchasing power of the dollar: something that cost $1.00 in 1950 would cost about $8.78 today. As for gas prices, in 1950 the price of gas was approximately 30 cents per gallon. Adjusted for inflation, a gallon of gas today should cost right at $2.64, assuming taxes are the same.

But taxes have not stayed the same. The tax per gallon of gas in 1950 was roughly 1.5% of the price. Today, federal, state, and local taxes account for approximately 20% of gas's posted price. Taking inflation and the increase in taxes into account (assuming no change in supply or demand) the same gallon of gas that cost 30 cents in 1950 should today cost about $3.13.

Neither have supply or demand remained constant. The world economy is growing. China and India are obvious examples. At the same time, Americans continue to love driving SUVs and trucks. As for supply, we are prohibited (whatever the reasons may be) from using many of the known oil reserves in our own country. Furthermore, due to government regulation, the last oil refinery built in the United States was completed in 1976. In addition, the Middle East is politically unstable which leads to a risk premium on the world's major source of oil. It is obvious that the demand for oil has grown while supplies have been restricted.

The average price of gas in the United States today is approximately $3.25. The question is, why are gas prices not higher than they are?

Blaming greedy oil companies on the rising price of gas is simply irresponsible. The profit margins of a few selected industries are as follows:

Periodical Publishing 24.9%
Shipping 18.8%
Application Software 22.5%
Tobacco 19%
Water Utilities 10.2%
Major Integrated Oil and Gas 9.5%
Hospitals 1.4%
Drugstores 2.8%

The water utility industry has higher profit margins than major oil and gas firms! Why isn't every CEO with profit margins above that of the oil companies made to testify before Congress for "price gouging"? Clearly, greedy corporate profits are not the issue.

Again, while just over nine percent of the price of a gallon of gas goes to oil company profits, approximately twenty percent of the price of a gallon of gas is composed of federal, state, and local taxes.

Those who want the government to step in and do something about the high price of gas are either forgetful of recent history or too young to remember the oil crisis of 1979. During that time, restrictions on the price of gasoline led to the inability of some to find gas at all. Price ceilings always lead to shortages. The only thing worse than having to pay "too much" for gas is not being able to find gas at any price.

Let us not be swayed by politicians out for power or by reporters out to create news where none exists. Facts and economic logic should prevail rather than rhetoric.

Sterling T. Terrell is a Ph.D. candidate in the department of agricultural and applied economics at Texas Tech University.
Where's Coach Knight when you need him? Anyone else want to pick apart this fucking absurdity, or is that down to me?

Last edited by Qubes; 04-22-2008 at 08:01 PM.
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post #126 of 185 (permalink) Old 04-22-2008, 08:06 PM Thread Starter
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Never mind...our fellow members of the blogowebs have taken care of it.

Economics 101: The Price of Gas - Mises Economics Blog
Published: April 22, 2008 12:57 PM
Sandor Balogh
Re Price of Gas, two comments to Economics 101:

History 101 : The gas in the 1950's was around 17 cents, not 30. I remember, as opposed to the author, a grad student who wasn't even alive at that time. As a Hungarian freedomfighter I came to the US in 1957, and remember the real price. So, following the author's logic, the gas should be under $2.00.

Economics 102: The author forgot to mention the market system the oil industry uses. I believe in free markets, as the Von Mises group does. So why hide the fact that raw oil prices are set by a cartel, and the speculators at the oil burse. If the oil industry follows the free market, there would be competition, and it would chech gas prices too.

This is, of course, in addition to the factors mentioned in the article, but is an important factor that somebody writing for the Mises Institute should not sweep under the rug!

Sandor Balogh, Ph. D., Prof emeritus
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post #127 of 185 (permalink) Old 04-23-2008, 06:54 AM
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"...popularly elected..." What the hell are you on today?
Buy a newspaper you fucking idiot.

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
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post #128 of 185 (permalink) Old 04-23-2008, 07:01 AM
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Never mind...our fellow members of the blogowebs have taken care of it.

Economics 101: The Price of Gas - Mises Economics Blog
Published: April 22, 2008 12:57 PM
Sandor Balogh
Re Price of Gas, two comments to Economics 101:

History 101 : The gas in the 1950's was around 17 cents, not 30. I remember, as opposed to the author, a grad student who wasn't even alive at that time. As a Hungarian freedomfighter I came to the US in 1957, and remember the real price. So, following the author's logic, the gas should be under $2.00.

Economics 102: The author forgot to mention the market system the oil industry uses. I believe in free markets, as the Von Mises group does. So why hide the fact that raw oil prices are set by a cartel, and the speculators at the oil burse. If the oil industry follows the free market, there would be competition, and it would chech gas prices too.

This is, of course, in addition to the factors mentioned in the article, but is an important factor that somebody writing for the Mises Institute should not sweep under the rug!

Sandor Balogh, Ph. D., Prof emeritus
Not only that, the author also throws a ton of bullshit when he claims that oil shortages occurred in 1979 due to "regulation", which is utterly false. Oil shortages occured due to the Iranian Revolution and the disruption of oil supplies. A much better argument can be made that if the tax on foreign oil, which was repealed under Reagan, had been kept in place we would have been forced to develop domestic energy supplies and alternative energy. Instead, by relying on the holy "free market", we put ourselves on the road to where we are today: international muggers with a heroin habit for oil.

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
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post #129 of 185 (permalink) Old 04-23-2008, 08:35 AM
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I'm.....it's.....no, look.....just.....unghh.....(sigh)

Economics 101: The Price of Gas - Sterling T. Terrell - Mises Institute
Economics 101: The Price of Gas
Daily Article | Posted on 4/22/2008 by Sterling T. Terrell


Gas prices are up and oil executives are once again testifying before Congress. Clearly, many politicians, pundits, and consumers lament the rising cost of gas. Before we join them in their chorus, let us take a step back and ask this question: Are gas prices really all that high?

A change in price can be a result of inflation, taxes, changes in supply and demand, or any combination of the three.

First, we need to take into account inflation. The result of the Federal Reserve printing too much money is a loss of purchasing power of the dollar: something that cost $1.00 in 1950 would cost about $8.78 today. As for gas prices, in 1950 the price of gas was approximately 30 cents per gallon. Adjusted for inflation, a gallon of gas today should cost right at $2.64, assuming taxes are the same.

But taxes have not stayed the same. The tax per gallon of gas in 1950 was roughly 1.5% of the price. Today, federal, state, and local taxes account for approximately 20% of gas's posted price. Taking inflation and the increase in taxes into account (assuming no change in supply or demand) the same gallon of gas that cost 30 cents in 1950 should today cost about $3.13.

Neither have supply or demand remained constant. The world economy is growing. China and India are obvious examples. At the same time, Americans continue to love driving SUVs and trucks. As for supply, we are prohibited (whatever the reasons may be) from using many of the known oil reserves in our own country. Furthermore, due to government regulation, the last oil refinery built in the United States was completed in 1976. In addition, the Middle East is politically unstable which leads to a risk premium on the world's major source of oil. It is obvious that the demand for oil has grown while supplies have been restricted.

The average price of gas in the United States today is approximately $3.25. The question is, why are gas prices not higher than they are?

Blaming greedy oil companies on the rising price of gas is simply irresponsible. The profit margins of a few selected industries are as follows:

Periodical Publishing 24.9%
Shipping 18.8%
Application Software 22.5%
Tobacco 19%
Water Utilities 10.2%
Major Integrated Oil and Gas 9.5%
Hospitals 1.4%
Drugstores 2.8%

The water utility industry has higher profit margins than major oil and gas firms! Why isn't every CEO with profit margins above that of the oil companies made to testify before Congress for "price gouging"? Clearly, greedy corporate profits are not the issue.

Again, while just over nine percent of the price of a gallon of gas goes to oil company profits, approximately twenty percent of the price of a gallon of gas is composed of federal, state, and local taxes.

Those who want the government to step in and do something about the high price of gas are either forgetful of recent history or too young to remember the oil crisis of 1979. During that time, restrictions on the price of gasoline led to the inability of some to find gas at all. Price ceilings always lead to shortages. The only thing worse than having to pay "too much" for gas is not being able to find gas at any price.

Let us not be swayed by politicians out for power or by reporters out to create news where none exists. Facts and economic logic should prevail rather than rhetoric.

Sterling T. Terrell is a Ph.D. candidate in the department of agricultural and applied economics at Texas Tech University.
Where's Coach Knight when you need him? Anyone else want to pick apart this fucking absurdity, or is that down to me?
That post makes my head want to explode. I think he will be "PhD candidate" for a long time.

But he is already the perfect little NeoCon. default.aspx

McBear,
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post #130 of 185 (permalink) Old 04-23-2008, 10:58 AM
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Buy a newspaper you fucking idiot.
I did! Voting Machines Used in 'Rigged' Chavez Election

Maybe you should buy one too...

Don't believe everything you think
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