I did some checking. The USA subsidizes oil at somewhere between 70 cents and
$3.50 per barrel. There's about 20 gallaons of gas obtained per barrel.
Assuming that 1/2 the subsidies are for gasoline, that works out to somewhere
between 1.5 and 7.5 cents subsidy per gallon of gasoline, so you
Attempting to pour oil on troubled waters, I'd like to point out that while
Judy is correct that core inflation has been rather low lately, the essential
cost of living has risen drastically due, at least partly, to the price of oil.
About 30% of the cost of food is tied directly to oil
BTW, the cost of gasoline in the USA is heavily subsidized. The cost of gas in
Europe is 2-3x what it is in the USA.
OTOH, the cost of gasoline in Venezuela is about 1/10-1/20 what it is in the
USA.
Just a factoid that may or may not have anything to do with anything.
L
higher taxes in europe, however the enjoy the same depleation allowances as do
we here in canada but taxed nore in canada indian res here sells cdn gas 3
3.55 off res its 3.89 ont 4;54 usd
In a message dated 05/26/12 19:27:06 Eastern Daylight Time, lengli...@cox.net
writes:
BTW, the cost
In most of Europe, the cost of gas is above US$9 per gallon. And remember, we
have subsidies for oil pricing that partially/fully offset the taxes levied at
the pump.
Without oil subsidies, many alternate forms of power would be much closer to
the point of economic break-even, or might already
