WA state about to see $0.47 increase is gas prices

[mspart]

It is my opinion that very few here in WA know about this.   Current law stipulates that there will be a carbon tax on all energy.   Oil refineries will pay this and pass the cost on to the consumer.   Result is an estimated $0.47/gallon increase in cost for gas, $0.57 increase for Diesel.   So not only will petrol prices go up but everything that is delivered by diesel will go up.   Everything that is built by diesel will go up.   Again, the only ones really paying for any tax increase are the little guys.   Everyone else just passes their increased costs along. 

It will make WA uncompetitive in the US and global market place because our costs are higher than others.  Our illustrious governor ran for President in 2020 and have any of you heard of him?  Jay Inslee?  His main focus was climate change.  And no one gave him the time of day.   Well not true.   They gave him the time of day quite a bit more than they gave Kamala.  Inslee at least hung in there for a few rounds. 

So inflation will be roughly 14% here in the Evergreen state immediately on 01 Jan.    I'm guessing that is when it will hit the fan and people will wake up and become irate.  And it will only apply to WA so it will be easy to lay blame on Inslee and the D legislature.   I'm guessing there will be major fallout from this.   Carbon tax credits and carbon taxing is just plain wrong.   The extra money does not go to anything in particular that will assist in helping climate change.   On the contrary, the monies are earmarked for things that have nothing to do with that, in my opinion. 

mspart

 

[jross]

When the gas price drops a few cents, still considerably higher than before, the gov will call it a win!

[Mike Parrish]

https://www.usinflationcalculator.com/gasoline-prices-adjusted-for-inflation/

 

Edited December 16, 2022 by Mike Parrish

[jross]

Does the chart keep going?  How about the part where war was declared on oil and acknowledgment that gas would be higher before it went higher and before Ukraine?  Started 2020 in pres debates and day 1 orders in 2021.

[Mike Parrish]

10 minutes ago, jross said:

Does the chart keep going?  How about the part where war was declared on oil and acknowledgment that gas would be higher before it went higher and before Ukraine?  Started 2020 in pres debates and day 1 orders in 2021.

I tried to get that chart to go through 2022, but the website wouldn't cooperate.

[jross]

Gas price.  This will suffice until we find an inflation-adjusted one.  

https://ycharts.com/indicators/us_gas_price

[jross]

This is the inflation-adjusted version from 1978 to 2021 using https://www.usinflationcalculator.com, with 2022 added.

 

References:

• https://www.usinflationcalculator.com/gasoline-prices-adjusted-for-inflation/
• https://ycharts.com/indicators/us_gas_price
• https://www.bls.gov/data/inflation_calculator.htm

[mspart]

All that is Federal level.   this is a WA state only issue.   They did not raise the gas tax.   They levied a carbon tax which will effectively do the same thing.   Refineries will pay the tax, and charge us extra for their product so they have wherewith to pay that carbon tax.

mspart

[BerniePragle]

We all have paid taxes that go directly to Big Oil to drill for oil. Have for many years. I know quite a number of years ago, the federal government gave Exxon Mobil $30 billion one year. That's $100 per man,  woman,  child in the US, if everyone paid taxes equally,  which we know doesn't happen.  $500 for our family before the kids left. I wasn't/ am not happy about that. Definitely not free market.  

Gas and diesel are cheap enough to haul garbage all over NY and Pennsylvania. Garbage from NYC, Philadelphia,  Pittsburgh,  etc is hauled to landfills in Bradford County,  PA,  Corning,  NY, etc, etc.  I see the damn garbage haulers wearing out the interstates every day.  Interstates that my taxes built. Again, not free market.  The trucking industry is another one supported by my tax dollars, and unsurprisingly, has a large lobby in DC.  

I remember going to buy a bag of Cheez-its in the grocery store about maybe a year and a half ago.  The price had doubled. I said something to a manager and he said their shipping costs had increased. I asked, rhetorically,  How many bags of Cheez-its can you get in a tractor trailer for God's sake?  The increased shipping cost thing has been blown way, way out of proportion. 

Maybe we'll have to quit trying to compete with each other to drive the biggest, most ostentatious rig on the road and go back to driving personal vehicles that serve the purpose of getting from a to b.  That would burn a lot less fuel and hypothetically in a free market solve many of these problems.   Lord, I think I'm almost un-American. 

So where is the carbon tax supposed to go?  Whose pocket?

Edited December 17, 2022 by BerniePragle

[RYou]

Now for the federal side of that inflation coin.

As of January 1, 2023 the following Biden tax hikes will take affect

$6.5 Billion Natural Gas Tax - increasing household energy bills and manufacturing production.

$12 Billion Crude Oil Tax - increasing household energy, transportation, production and supply chain costs

$1.2 Billion Coal Tax increasing the cost of producing electricity

$74 Billion Stock Tax - choose to sell stock back to a company the tax will be charged will reduce your 401 K / IRA

$225 Billion Corporate income Tax hike on businesses - to be passed on up the supply chain

No end in sight for these inflationary policies.

 

[Mike Parrish]

Hmmm...

 

https://www.wsj.com/articles/inflation-sudden-drop-12-5-month-cpi-pce-energy-food-new-year-price-federal-reserve-11672914903

[Mike Parrish]

Unemployment reaches its lowest level in over 50 years.

[BerniePragle]

On 1/6/2023 at 9:56 AM, RYou said:

Now for the federal side of that inflation coin.

As of January 1, 2023 the following Biden tax hikes will take affect

$6.5 Billion Natural Gas Tax - increasing household energy bills and manufacturing production.

$12 Billion Crude Oil Tax - increasing household energy, transportation, production and supply chain costs

$1.2 Billion Coal Tax increasing the cost of producing electricity

$74 Billion Stock Tax - choose to sell stock back to a company the tax will be charged will reduce your 401 K / IRA

$225 Billion Corporate income Tax hike on businesses - to be passed on up the supply chain

No end in sight for these inflationary policies.

 

You mean spending like a drunken sailor and still cutting taxes?  Reagan, Bush1, Bush2, trump?

[Crotalus]

10 hours ago, BerniePragle said:

You mean spending like a drunken sailor and still cutting taxes?  Reagan, Bush1, Bush2, trump?

Wait, you mean cutting taxes on the rich won't actually lead to more prosperity for all and end up generating higher tax revenue that will pay for all the spending? I feel lied to....

[Mike Parrish]

On 12/16/2022 at 9:54 AM, mspart said:

It is my opinion that very few here in WA know about this.   Current law stipulates that there will be a carbon tax on all energy.   Oil refineries will pay this and pass the cost on to the consumer.   Result is an estimated $0.47/gallon increase in cost for gas, $0.57 increase for Diesel.   So not only will petrol prices go up but everything that is delivered by diesel will go up.   Everything that is built by diesel will go up.   Again, the only ones really paying for any tax increase are the little guys.   Everyone else just passes their increased costs along. 

It will make WA uncompetitive in the US and global market place because our costs are higher than others.  Our illustrious governor ran for President in 2020 and have any of you heard of him?  Jay Inslee?  His main focus was climate change.  And no one gave him the time of day.   Well not true.   They gave him the time of day quite a bit more than they gave Kamala.  Inslee at least hung in there for a few rounds. 

So inflation will be roughly 14% here in the Evergreen state immediately on 01 Jan.    I'm guessing that is when it will hit the fan and people will wake up and become irate.  And it will only apply to WA so it will be easy to lay blame on Inslee and the D legislature.   I'm guessing there will be major fallout from this.   Carbon tax credits and carbon taxing is just plain wrong.   The extra money does not go to anything in particular that will assist in helping climate change.   On the contrary, the monies are earmarked for things that have nothing to do with that, in my opinion. 

mspart

 

Speaking of climate change

https://www.theguardian.com/business/2023/jan/12/exxon-climate-change-global-warming-research

[Mike Parrish]

Gas is down more than $1.70 from its peak.

 

[Mike Parrish]

[Plasmodium]

Looks like gas prices in WA are currently less than they were a month ago and also a year ago.  Same trajectory as OR and ID.  Lucky WA is getting free money!!!

[Mike Parrish]

37 minutes ago, Plasmodium said:

Looks like gas prices in WA are currently less than they were a month ago and also a year ago.  Same trajectory as OR and ID.  Lucky WA is getting free money!!!

Where are all the Republicans' congratulations to Joe Biden?!

[Mike Parrish]

Thank goodness the GOP is on the job!
 

 

[El Luchador]

On 12/16/2022 at 2:36 PM, Mike Parrish said:

https://www.usinflationcalculator.com/gasoline-prices-adjusted-for-inflation/

 

It should be lower.  We have made an insane amount of technological advances in all areas of production. It's artificially being inflated by people who want to control you. They want to pick the winners and losers.

[El Luchador]

On 1/12/2023 at 8:28 PM, Mike Parrish said:

Unemployment reaches its lowest level in over 50 years.

25% of men in the prime working age group have left the work place.  The economy is not good. When unemployment is low and job participation is low it's a very bad sign. 

[Plasmodium]

I can't find anything demonstrate that.   I'm reading there are more full time employees now than ever.

[mspart]

https://www.washingtonpolicy.org/publications/detail/washingtons-gas-prices-have-jumped-25-cents-per-gallon-since-co2-tax-took-effect

Prices here have risen 17 cents per gallon while Oregon and Idaho gas has gone down 8 cents a gallon.  Net effect is a 25 cent rise in gas cost if we had been allowed to follow OR and ID prices.

mspart

[Mike Parrish]

It's almost like the GOP doesn't want US consumers to have lower gasoline prices...

https://www.politico.com/news/2023/01/25/republicans-fight-against-biden-oil-drawdowns-00079289