And Democrat Senator Diane Einstein (pun intended) calls for federal investigation!
The average price in the state hit $4.668, according to AAA. Sen. Dianne Feinstein, D-Calif., called on the Federal Trade Commission to investigate, saying residents need to be protected from "malicious trading schemes."
Feinstein in her letter Sunday asked the FTC to determine if the price spike was caused by illegal manipulation of the market and to start monitoring the market for fraud, manipulation, or other malicious trading practices
http://www.politico.com/news/stories/1012/82135.html#ixzz28j5bweKH
We must have some lunatic politicians here in the Golden State, I take that back, I know we do!
Has Diane Einstein figured out that Californians pay a much higher tax on fuel, in fact the second highest in the country, only New York is higher (another liberal state!). Does she not understand that fuels in California cost more to refine because we have the largest population of tree huggers and the strictest environmental standards in the nation????
From the data I've found, oil companies make on average, about 7 cents per gallon of gas sold at the pump.
The federal government confiscates over 18 cents and the state of California, over 35 cents per gallon!
That's a combined total of over 53 cents per gallon in taxes for ever gallon of gas sold at the pumps, almost eight times what the oil companies make on the same gallon of gas.
Perhaps Diane Einstein should investigate the state and federal government for lunacy!
http://benmavy.wordpress.com/2009/09/21/why-does-california-gas-cost-more/
One of the most common questions we get in our office is: Why do Californians pay more for gasoline than anywhere else in the country.
Recently, the Orange County Business Council conducted a research study into this question and the findings were quite striking:
The average price in the state hit $4.668, according to AAA. Sen. Dianne Feinstein, D-Calif., called on the Federal Trade Commission to investigate, saying residents need to be protected from "malicious trading schemes."
Feinstein in her letter Sunday asked the FTC to determine if the price spike was caused by illegal manipulation of the market and to start monitoring the market for fraud, manipulation, or other malicious trading practices
http://www.politico.com/news/stories/1012/82135.html#ixzz28j5bweKH
We must have some lunatic politicians here in the Golden State, I take that back, I know we do!
Has Diane Einstein figured out that Californians pay a much higher tax on fuel, in fact the second highest in the country, only New York is higher (another liberal state!). Does she not understand that fuels in California cost more to refine because we have the largest population of tree huggers and the strictest environmental standards in the nation????
From the data I've found, oil companies make on average, about 7 cents per gallon of gas sold at the pump.
The federal government confiscates over 18 cents and the state of California, over 35 cents per gallon!
That's a combined total of over 53 cents per gallon in taxes for ever gallon of gas sold at the pumps, almost eight times what the oil companies make on the same gallon of gas.
Perhaps Diane Einstein should investigate the state and federal government for lunacy!
http://benmavy.wordpress.com/2009/09/21/why-does-california-gas-cost-more/
One of the most common questions we get in our office is: Why do Californians pay more for gasoline than anywhere else in the country.
Recently, the Orange County Business Council conducted a research study into this question and the findings were quite striking:
- Californians pay between five and fifteen cents per gallon extra due to increased fuel refining costs required by the special gasoline blends required by the California Air Resources Board.
- Because few refineries are equipped to make this special blend, availability is often limited and price is affected when these refineries break down or close for maintenance.
- State gas taxes, at 35.3 cents per gallon, are 43% higher than the national average. Only New York charges more.
- California is a fuel island with no pipelines linking us to domestic oil supplies. Thus, all crude oil must come here by tanker. We also have a limited capacity for storage, having lost six million barrels of storage capacity in the last 15 years.
- California has not opened a new gasoline refinery since 1969, and 20 refineries have closed since 1980. Thus our refineries are forced to become more efficient, but they have only increased their capacity by one half of one percent (0.5%) between 1995 and 2006. During this same period, fuel sales increased by 18%.
