The Oil War and R-OIL Wedding at Home

By William Becker on May 11, 2011 4 Comments alternative energy, alternative energy program, Boehner, California Chamber of Commerce, Chevron, clean energy, crude oil, dependence on foreign oil, deteriorating transportation infrastructure, Diane DeGette, domestic oil production, EIA, Energy Information Administration, energy prices, Exxon-Mobil, gas prices, high gasoline prices, Highway Trust Fund, Middle East, Obama, oil companies, oil price, oil speculator, oil subsidies, petroleum, price at the pump, price volatility, Proposition 87, RObert Reich, tax increase, William Becker

This post addresses some of the misdirections being propagated by politicians about the rising price of gasoline and points at the actual underlying reasons for these rising prices, clearly illustrating how the global price of crude oil is by far the largest factor in the price of a gallon of gas at the pump and that fuel taxes are a small portion of the overall price. It goes on to make the point that these taxes are also badly needed by a rapidly crumbling national road infrastructure. This is a complex subject; this article provides an important perspective on it.