Category

Gas Tax

Energy

How This Deadly "Fuel of the Future" Will Speed Up Climate Change

What do mysterious holes in the Siberian permafrost, hundreds of gas plumes off the East Coast, and the flimsy protoplasmic-like structures spotted underwater during the Deepwater Horizon disaster apparently have in common?

It seems to be icy methane hydrates, touted by some as the fuel of the future.

Here’s why this is so dangerous…

Energy Investing

How to Profit When Oil and Gas Stocks Hit the Bargain Rack

Over the past week, oil and gas stocks have been quite volatile. But that's not bad news – not by a long shot.

In fact, this is always the time when energy investors should be on the hunt for bargains.

And there's one approach that works especially well in this situation...

Stock Market Today

Today’s Financial News: Gas Prices to Go Up, Twitter to Go Down

Today's financial news, May 2, 2014: This morning (Friday), the Bureau of Labor Statistics reported that the official U.S. unemployment rate fell from 6.7% to 6.3%, the largest single monthly drop since September of 2008.

U.S. markets were mixed on Thursday after a string of positive economic data improved the nation's outlook, despite higher weekly jobless claims.

Here’s what you need to know to make your Friday profitable.

Commodities

Gas Prices Are Heading Up (and the Sector That Will Benefit)

The price of gasoline in the U.S. is on the rise again.

Futures prices for RBOB ("Reformulated Blendstock for Oxygenate Blending"), the NYMEX futures contract for gasoline, are up over 11% for the year, and a full 6.6% of that increase has come in the past month.

In fact, gas is up 2.4% over the past week alone. Today, the average retail price is 4 cents higher per gallon than a year ago.

And you can bet that as we move into the "official" start of the summer driving season, the worst is yet to come. Prices will be headed even higher.

So with all the hoopla surrounding our newfound oil wealth and our legitimate move to become energy self-sufficient in as little as a decade, why are gas prices still climbing?

Let me explain...

Energy Investing

Why Disrupted Ukraine Gas Pipelines Won't Send Gas Prices Skyrocketing

Oil and gas prices shot up this week on fears that the Ukraine gas pipelines will be disrupted during Ukraine's conflict with Russia.

Yesterday (Monday), gas futures climbed up 10% in early trading – the biggest rise in two years. The benchmark price for oil rose more than 2%.

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Taxes

These Gas Tax Hikes Will Make Driving A Lot More Expensive

Americans worried about how rising oil prices might affect prices at the pump are about to get blindsided by looming gas tax hikes that almost guarantee higher gasoline prices.

And it's not just state governments looking to shake down American motorists.

Alarmingly, the International Monetary Fund (IMF) has called for the U.S. government to increase the current federal gasoline tax of $0.184 per gallon by a whopping $1.40.

In a March 26 speech, IMF Deputy Director David Lipton said the gas tax hike would pay for social programs around the world as well as to save the environment.

"The time has come for subsidy reform and carbon taxation," Lipton said.

This federal gas tax hike, if imposed, would add $14 to a typical 10-gallon fill-up and hundreds of dollars to the annual cost of driving.

Fortunately for U.S. drivers, few in Washington support the IMF proposal.

"Higher gas prices hit those who can least afford it the most as American families are forced to pay a larger percentage of their income on higher energy prices," Rep. Fred Upton, R-MI, chairman of the House Energy and Commerce Committee, told Fox Business. "Drivers across the country are already struggling to pay up to $4.00 a gallon for gas, and further price increases at the pump could be devastating to low- and middle-class families and disastrous to our economic recovery."

Now if only state legislatures felt the same way…

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