Say hello to higher gas prices

we're gonna get jammed on various fronts, from higher unemployment, property taxes, raised taxes, etc. The trickle down especially if the moratorium sticks like Barry wants will be epic...

never let a good crisis go to waste

i honnestly cannot see a 26 cent raise PER BBL to effect gas prices much. we see $3-5 fluxuations daily in the price of a bbl of oil and the pumps barely reflect that

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i honnestly cannot see a 26 cent raise PER BBL to effect gas prices much. we see $3-5 fluxuations daily in the price of a bbl of oil and the pumps barely reflect that

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What is ridiculous is that this is going to be a tax on all oil, onshore and offshore. It's going to impact people drilling onshore wells who have almost no risk of a major spill which impacts a substantial amount of people.

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i agree, but claiming the gas price hype is a little much IMO

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You never know. The US gets almost a million barrels a day the last time I looked from stripper wells. Any hits to the bottom line can often mean those kinds of wells get plugged for good.

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Nah...like any business this new cost will be passed along to the consumer. Why don't people understand this concept.

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I would venture to say that for many of the extremely small operators in places like the East Texas oil field and places like that with a handful of wells that make a barrel of oil or less a day aren't going to have the ability to pass on their costs. They are pretty much dependent upon whatever purchaser pays for their oil. The purchaser might be a different story though.