The Sauds have apparently seen the light - rising food prices, civil unrest, political instability, rioting ... and so, they will begin within weeks an unprecedented increase in oil exports.
BUT, the Sauds want the governments of the West to cut taxes!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I love this.
Cut fuel taxes.
So many mental midgets in the US have long serenaded the whine over Europe has higher prices than us, so why are we paying so much less ... TAXES!!!!!!!!!!!!!!!!!!!!!!
The Brits are getting their fuel for the same price as we in the US get our fuel ... yet they pay nearly £6.5 a US gallon (13 US dollars). ALL TAX. TAX TAX TAX TAX TAX TAX TAX.
How do you think the European countries pay for all the social programs they have - in large part taxes. Fuel tax is one part of it. The Euros can't reduce the tax or they risk worse than political and social unrest.
We can.
Next month, the Saudis will be pumping an extra half-a-million barrels of oil a day compared to last month, bringing total Saudi production to 9.7 million barrels a day, their highest ever level. But the world's biggest oil exporters are coupling the increase with an appeal to western Europe to cut fuel taxes to lower the price of petrol to consumers.
And no, for all the tree hugging dirt lovers, that doesn't mean we will be complacent nor fall back into numbness and folly ... oil will still be $60-70 more per barrel than it should be and probably more than $40 a barrel higher than it will ever get back down to, but we can hope.
At $75-80 a barrel it became financially feasible to begin exploration and extraction of the trillions of barrels of oil we have in the Rocky mountains under shale. It is now feasible, financially, to find all the oil the earth will need for another 200 years, and I am certain, beyond any doubt that within 100 years, we will be very nearly weaned from oil in all areas. I trust science and technology to find the answer. If we can send ships to Mars, we can find a simple solution - without government laws and mandates - that ONLY COST US MORE AND INTRUDE UPON OUR LIVES.
OIL LIVES
Posts
