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Originally Posted by ED turbo (mickmalta)
We are basically being held at ransom by a government who isnt interested in how low wage earners live, but by how many ppl he can screw over for as long as it takes before someone (a motoring body) decides to stand up and do something about the 50 cents + a litre going straight into little Johhny's pocket.
$70 a barrel for oil dosent warrant $1.43 at the bowser.
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Look im not going to comment on your voting preference. But just ask that you consider the following:
The following graph represents the futures derivative price for the delivery of one barrel of light sweet crude - as traded on the new york mercantile exchange.
Now - the data i have isnt perfect (lol, bear with me) - so just look at the NYMEX price from march onwards - as this lines up the data in the next graph.
The following graph represents the pump price of unleaded petrol (taken from WA's fuel watch site - but within a few c/L is representative of what we are all paying - with the exception of QLD):
Notice anything? I think it's fair to say they are following a VERY similar trend. Now i dont have the time (or the wish) to demonstrate the correlation between these two - but i'd wager that it's close to 80% or 90%.
An interesting point to note was what happened in australia over the easter weekend. The oil companies actually HELD OFF on increasing the wholesale price - despite the fact they were paying more at the singapore index price - in order to reduce the consumer backlash that $1.40/L prices over easter would have resulted in. But i digress...
Paying $1.40/L for fuel - despite what some seem to believe - is not the work of the prime minister of australia. This isnt even a political issue - i cant understand why lib vs ALP was brought up???
This is basic supply and demand economics. OK - so there's nothing simple about the price of oil - but the basic underlying volatility is simple supply and demand.
The call appears to be "drop the GST on fuel". Correct?
Dont you think that's just a
little short sighted? OK, so we drop the GST and fuel comes down to $1.26/L. Oil climbs to $80/bbl.... pump price climbs to $1.40/L again. We're back to square one but with billions missing from the budget... great.
Maybe we can rape some more money from your pay packet to cover it?
Or close a few hospitals?
Or stop paying off foreign debt?
ALL so that YOU can get a PRECIOUS RESOURCE at a price which SUITS YOU?
We are to blame. Each and every one of us. PARTICULARLY those of us who think we have the RIGHT to drive cars with MUCH WORSE fuel consumption than possible alternatives. It was all good for the west to develop an addiction to large cars until china and india finally hit heavy industrialisation wasnt it? Oh - now another 1+ billion mouths to feed from the same oil wells. But FFS they have just as much right to the oil as anyone else.
You want to point fingers then look a little closer to home because you wont find the answer on either side of parliament house.
The construction of a car will consume TWICE its weight in fossil fuels like oil. The computer in front of you consumed 10 TIMES ITS WEIGHT IN OIL during its production.
OK so i sound a little angry - but please rest assured it is not directed at any individual on this site. I just get so frustrated with people blaming every aspect of their life on the government - petrol prices being the worst offender of them all.
How much are you willing to sacrifice in order to get something as PETTY as cheap petrol??????