With current exchange rates, that’s 1.09 € per litre. In Germany we pay 1.90 € per litre ( for the cheap stuff).
So in Germany it is ~9.60$ per gallon.
I don’t know about where you’re sourcing your info, and I don’t know enough about it to check this source, lol.
Regardless, they seem confident?:
By contrast, the United States is supposedly relatively well-off since we are largely self-sufficient and in fact a net exporter of natural gas.
While the point about the US having large oil and gas production is important, it distorts the impact in important ways. The simplest way to think about the surge in oil and natural gas prices is as a big tax on consumers of these products.
When people pay $3.50 at the pumps, instead of the $2.80 we paid a month ago, this would be the same thing to consumers as if the government imposed a 70 cent a gallon gas tax. There would be a similar story with higher prices for home heating oil or natural gas. From the standpoint of consumers, the price increases are the same as if they just got hit with a big tax increase.
The difference is that instead of the money going to the government, as it would with a tax, it’s going to the oil and gas industry, Donald Trump’s campaign contributors. In principle, for a country like the United States, which is largely self-sufficient in oil and gas, if we could just rebate the money people paid in higher prices back to consumers, all would be fine.
“Because American refineries require specific crude blends (and to maximize global market efficiency), the U.S. exports a significant amount of its crude and refined products, while concurrently importing crude oil.”
The US exports a majority of its oil as they don’t have the refining capacity for the type of oil (light sweet crude) it produces. They import heavy crude (mainly from Canada) that they use for domestic use as refineries are designed to refine heavy crude, and US heavy crude production has nearly run dry, mainly from California.
And it is not enough. To even begin to account for the externalized damages due to the total emissions car based transport, taxes need to be way higher still.
Of course americans - land of the externalized costs - never gave a shit about that, and never will.
With current exchange rates, that’s 1.09 € per litre. In Germany we pay 1.90 € per litre ( for the cheap stuff). So in Germany it is ~9.60$ per gallon.
I’m not being shitty, but a real question. Do you have your own oil wells? We not only have our own oil, but we frack the shit out of our earth.
Doesn’t matter if you supply your own oil, it’s traded on world markets that determines the price.
The gas pricing map of the United States would contradict that.
Tell me you don’t understand oil markets without saying it.
I don’t know about where you’re sourcing your info, and I don’t know enough about it to check this source, lol.
Regardless, they seem confident?:
https://cepr.net/publications/the-winning-and-losing-countries-from-high-oil-prices/
“Because American refineries require specific crude blends (and to maximize global market efficiency), the U.S. exports a significant amount of its crude and refined products, while concurrently importing crude oil.”
The US exports a majority of its oil as they don’t have the refining capacity for the type of oil (light sweet crude) it produces. They import heavy crude (mainly from Canada) that they use for domestic use as refineries are designed to refine heavy crude, and US heavy crude production has nearly run dry, mainly from California.
TBF you tax the crap out of your gas.
That is a choice.
And it is not enough. To even begin to account for the externalized damages due to the total emissions car based transport, taxes need to be way higher still.
Of course americans - land of the externalized costs - never gave a shit about that, and never will.