<Geophysicist Klaus Lackner on Fueling the Future The Oil Drum DrumBeat: September 14, 2006>

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radlafari on September 14, 2006 - 4:50am Permalink | Subthread | Parent | Comments top
Where I live taxes are highly unpopular

So are they in Europe (and presumably nobody likes tax raises anywhere).
But - even if it may sound crazy - high gas taxes here in Europe have made raising crudes prices far less striking since the portion of taxes is more than 60 per cent (and fixed, not proportional.)
The tax revenue is used for everything from road maintenance and pension funding to salaries of our politicians :-/, all those expenditures that have to be paid for in the USA too, but the money comes from elsewhere ..
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Euan Mearns on September 14, 2006 - 5:00am Permalink | Subthread | Parent | Comments top
Yea, high gasoline prices aren't even in the news over here.  Higher interest rates and higher nat gas and electricity prices are.
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radlafari on September 14, 2006 - 5:44am Permalink | Subthread | Parent | Comments top
.. and also worth noting:
Highest gasoline prices in Europe are in oil exporting England (top price for diesel) and oil exporting Norway (top in gas).

Lowest gas prices worldwide (next to nothing for a litre) are in cuddlesome Iran, cozy Turqmenistan and comfy Iraq ..

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radlafari on September 14, 2006 - 5:45am Permalink | Subthread | Parent | Comments top
oops - as of England I should have better said "oil producing" ..sorry
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Euan Mearns on September 14, 2006 - 9:48am Permalink | Subthread | Parent | Comments top
Scotland is a major oil exporter, England a major importer - and always has been.
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radlafari on September 14, 2006 - 10:26am Permalink | Subthread | Parent | Comments top
double mistake of mine .. you're right.
But is the United Kingdom (if there is such thing in your eyes ;-) overall a net importer or exporter?
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Euan Mearns on September 14, 2006 - 11:45am Permalink | Subthread | Parent | Comments top
Turned importer last year - went from being part of the solution to being part of the problem.
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Nick on September 14, 2006 - 6:20pm Permalink | Subthread | Parent | Comments top
Yeah, it clarifies the reason US gas taxes are low: The US used to be the big producer, and hasn't gotten used to the idea of being the big importer.
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radlafari on September 15, 2006 - 2:13am Permalink | Subthread | Parent | Comments top
Norway always had high fuel taxes AFAIK, despite of being a major producer
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Nick on September 15, 2006 - 10:31am Permalink | Subthread | Parent | Comments top
I have the impression that Norway's major production is relatively new, socially speaking: pretty much only since 1980, when the North Sea was developed.  Am I wrong, there?
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radlafari on September 15, 2006 - 11:24am Permalink | Subthread | Parent | Comments top
The oil field 'Ekofisk' was found as early as 1969, but appropriate technology lacked. After the 73' oil crisis Norway prepared itself to start oil producing.

Norway is over the peak now and thus has decided not to produce by hook or by crook, but set up a state national fund, which currently holds 158 billion Euros (as of end 2006; that's 34.000 for every single Norwegian). All the money is invested in foreign markets in order to keep the norwegian currency on the ground.

Norway is still very busy in new exploration (the big nat gas fields in the Barent sea) and the state-owned Statoil company recently was involved in the successful deepwater exploration drilling in the gulf of Mexico.

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