Meanwhile, "lawmakers quietly are talking about raising fuel taxes by a dime."
You know the drill, readers!
"Natural gas tumbles, oil follows; As growth slows, US supply rises and prices start to fall" by Bloomberg News | July 18, 2008
NEW YORK - A stunning sell-off dragged oil prices to their biggest weekly drop ever and gas at the pump slipped by more than it has in months, giving consumers a rare breather in a year of record fuel prices.
The national average for a gallon of regular fell by the most since February, AAA data show, and could ease further in the days to come. The average price of a gallon of regular gas fell about a penny for the day, to $4.11, according to auto club AAA and others.
Some analysts said a nationwide average of $4 or even lower could be in the offing, though they cautioned there is no guarantee prices will stay low.
WTF?! Why the SHIT JOURNALISM?!!!!!!!!!!
Gas may be getting just a bit cheaper, but major changes in how Americans live and drive are already in motion."
Much to the delight of globalist assholes like Gore!
Never mind all those poor people in Latin America!
SAN SALVADOR - With the largest petroleum reserves outside the Middle East, the region has been on a roll in recent years. Record exports of crude oil, as well as grains, fueled economic growth not seen since the 1970s. The region's stock markets roared. Easier credit spawned a consumer class that snapped up homes and cars. About 26 million Latin Americans climbed out of poverty between 2002 and 2006, according to UN data.
But the same forces behind that new prosperity are now, paradoxically, creating misery. Surging fuel prices have ignited inflation throughout the region, driving up the cost of food, whose prices were already on the upswing thanks in part to ravenous global demand for Latin America's farm products.
In some countries, a gallon of gas costs more than a typical day's wages. The increases are leeching workers' paychecks and eroding years of progress against hunger and indigence.
They aren't alone. If gas and grocery prices continue their relentless climb, at least 100 million people worldwide may be sucked into the same downward spiral, the World Bank estimates. Food riots have erupted in Egypt, Cameroon, and Burkina Faso, once known as the Republic of Upper Volta, in West Africa. Poor consumers have staged demonstrations in India and Indonesia to protest cuts in fuel subsidies.
Yeah, I've noticed how the MSM has kept that stuff quiet.
Wouldn't want to give shit-headed, fat-ass Americans any ideas, would ya?
"There is a whole combination of factors that are putting a tremendous amount of pressure on the poor," said Carlo Scaramella, who heads the World Food Program in El Salvador. "We haven't had an economic shock of this magnitude in years."
While exporting nations such as Mexico, Brazil, and Chile profit from their petroleum, soybeans, and copper, Central America has reaped few benefits from the commodities boom. The region imports much of its grains and virtually all of its oil.
A slowing US economy has retarded growth of remittances, which are a crucial economic lifeline to Central America. A weak US dollar means the money sent home buys less than it used to. Many people in El Salvador, which embraced the greenback as its official currency in 2001, are longing for their old currency, the "colon."
Awww, isn't that too bad!!
American money isn't being sent out of the country by illegals!!!
I am so tired of the damn bias of the MSM I really reaching an end point here, folks!
And does anyone find it refreshing that money is refered to as an asshole?
That means I've got lots of currency, PFFFFFFTTT!
To fight inflation, nervous central bankers in Chile, Brazil, and Mexico have lifted interest rates. But that threatens to slow the solid growth that has produced jobs and wealth.
Public frustration is growing. In Brazil, police in Porto Alegre recently fired rubber bullets and tear gas into a crowd that was storming a supermarket to protest high food prices. Much of Nicaragua's electricity comes from plants that burn imported oil."Yup, just HIDE those PROTESTS like you always do, AmeriKan MSM!!!
Especially when Congress is considering a TAX HIKE!
"lawmakers quietly are talking about raising fuel taxes by a dime"
That's right, readers, GOVERNMENT wants ANOTHER TAX HIKE!!!!
"Dream of gas-tax holiday dies; Congress mulls raising fuel levy" by Jim Abrams, Associated Press | July 20, 2008
WASHINGTON - The political vision of a summer gas-tax holiday died a quick death in Congress, losing to a view that federal excise taxes on gasoline and diesel fuel will have to go up if they go anywhere.
Lawmakers quickly concluded, with a prod from the construction industry, that having $9 billion less to spend on highways could create a preelection specter of thousands of lost jobs. Now, lawmakers quietly are talking about raising fuel taxes by a dime.
Barack Obama, the likely Democratic nominee, opposed the idea from the beginning and the White House gave it a cold shoulder. Depriving the 52-year-old Highway Trust Fund of $9 billion, at a time when it is heading into the red, doomed the notion of a gas-tax holiday in Congress.
WTF?!?! WHERE is all this $$$ going?!!!!!!!!!
And how do you like Obama teaming with the White House?
Change my fat, flabby ass!
"Because the trust fund is already looking at a looming shortfall, it would have moved project cancellations into the construction season," Representative Peter DeFazio, Democrat of Oregon, said. He said it was "highly unlikely" that oil companies would have passed savings along to consumers.
Just three years ago, that trust fund enjoyed a surplus of $10 billion. Even without a tax freeze, the fund is projected to finish 2009 with a deficit of $3 billion. That could grow as Americans drive less and buy less gas because of higher pump prices.
The consequence is that only about $27 billion in federal money will be available next year to states and local governments for new infrastructure investment even though the current highway act calls for spending $41 billion a year. For many, the solution is to raise rather than suspend or cut federal fuel taxes, which haven't changed since 1993.
The Transportation Construction Coalition, a group of industry companies and unions, said that if Congress does not do something about the shortfall, states will lose about one-third of their road and bridge money in the budget year starting Oct. 1. That would put 485,000 more jobs at risk."
I'm really tired of being looted, and being sold scare-shit tactics to do it!
TAR, FEATHER, HANG, get it? I'M READY!!!!!!!
But no, we get more diarrhea coming our way instead!
CRAWFORD, Texas - President Bush, yesterday in his weekly radio address:
"This is a challenging time for families across our nation. I know many families are worried about rising prices at the pump and declining home values. The only thing now standing between the American people and the vast oil resources of the Outer Continental Shelf is action from the United States Congress. The need for congressional action is urgent. The sooner Congress lifts the ban, the sooner we can get these resources from the ocean floor to the gas pump."
He makes it sound like the shit will be there tomorrow!!
FUCK YOU, Georgie ASSHOLE!!!!!!!!
Bush recently lifted an executive ban on offshore oil drilling. He said it is Congress' turn to act."I'm so sick of this shit bag government and the media. Can you tell?
