High Gas Prices

I just installed one of those gas saving devices on the car. You know, a locking gas cap.

It would be interesting to hear how much "gas" costs you per gallon.

Over here the average price per gallon, in Feb 2005 was £3.70 (about 6.6 dollars).

In NY the average cost is $2.35 per gallon. California is the highest with the cost around $3.00. Americans are spoiled - our gov't has kept the price low for years. I'm fine with the higher price, not that I like paying it, but we are such fossil fuel pigs it's time for us to wake up and smell the environmental and political fumes.

Did you hear Hummer has just come out with a new model of jeep? It has two gas tanks and gets a whooping 11 miles to the gallon. We deserve to pay more - a lot more.

Screw that. We "deserve" to pay more? Anything that takes more money out of my pocket isn't deserving.

However, I do agree we are spoiled, at least compared to Europe. Unless they're just overpriced?

I don't think any Hummer has ever done better than 11mpg or so. What's even worse is the Ford Excursion, but they only made them for a couple of years or so. 8-9mpg.

I've long been dismayed at the cheapness of our gasoline.

When I look at the percentage of taxes yanked out of my paycheck, I don't mind buying gas cheap.

Let's ask Lord Ellpus what percentage he pays in taxes.....

The US Government has not "kept gas prices low", the European governments have inflated the cost of gasoline to the European citizenry. Base refined petroleum product has roughly the same producer cost anywhere on the planet. In the US, on average something over half the pump price of gasoline is due to various taxes. It costs no more in absolute terms to produce a gallon of gasoline in Europe than in the US. The retail price difference between European and US gasoline is due entirely to the fact European taxing authorities rely far more heavilly on gasoline-derived revenue than does US tax taxing authority. Which approach is the more honest and equitable?

I'm a proponent of higher gas prices in North America.

What benefit do you proponents see in higher gas prices?

Less consumption? Less SUV's/more economical cars, I'm guessing?

Yep, a rethinking of the the energy consumption. Not just in cars, but it'll also show up in products from afar. That could mean better deals for local products.

The usual income tax is 22% on earnings up to £32.400 I believe (though someone will no doubt correct me) and once you pass this threshold, you then pay 40% on the excess.
We also have National Insurance (which is supposed to pay for our National Health system etc) which works out at around 10%.
We also have Value added tax (VAT) on all "non essential items" of 17.5% which includes petrol.
The high price of petrol comes from an exorbitant amount of tax, both direct and indirect, which goes straight to the Government.
They tell us that it is done as an effort to make us use less fuel, and although it certainly encourages people to buy smaller and more fuel efficient cars, I dont think that this was there prime motivation if the truth be known.
The silly people still have those awful four wheel drive "off roaders" for belching around in though. Here they are nicknamed "Chelsea Tractors" (Chelsea is where all the trendy people live in London).

It is now reckoned that, for every Pound earned here, 50% eventually gets siphoned off to the Government.

See :- http://telegraph.co.uk/money/main.jhtml?xml=/money/2005/04/09/cmtax09.xml

Mind you, with my Accountant and the way she manipulates my assets, I pay an average of £3.75 on gross earnings of just over a squillion per annum.

She manipulates your assets, Lord? Does Lady Ellpus know about this?