Putin calls USA a parasite on the world economy!

[GQBlues]

A bit off topic, but my congratulations to the Libyan rebellion. May the future be bright for the Libyan people for their cause and liberation!
 
Congratulations also for our European friends as the Lockerbie terrorist/BP Oil Contract swap, plus the aggressive European-led NATO strikes assistance, should freely allow flow of Libyan oil directly to Europe soon! Yipee!
 
I do find it comical how a Nobel Peace prize recipient is now being hunted for crimes against humanity, LOL. It's akin to Al Gore's crusading for a greener earth considering his wasteful living ways...

[BC]

A bit off topic, but my congratulations to the Libyan rebellion. May the future be bright for the Libyan people for their cause and liberation!
 
Congratulations also for our European friends as the Lockerbie terrorist/BP Oil Contract swap, plus the aggressive European-led NATO strikes assistance, should freely allow flow of Libyan oil directly to Europe soon! Yipee!

Interesting reaction from new Libya powers.. guess RU and China have a ways to go to make up.  Maybe our gas prices will drop a few cents but will believe it when I see it.  At $8.15 per gallon now.

[GQBlues]

$8.15/galloon? Well, I will throw a bit of sympathy your way but Italy, compared to the US, have a much better public transportation system than we do...so the overall 'benefit' at the pump will not be as pronounced as they would be in the public transporation fares..and you may be right...likely in the 'cents'...
 
A third of Libya's export goes directly to Italy now. That's approximately 500,000 bbl/day. If BP's off-shore explorations yields new oil/gas depot, that will be pretty major for you folks. My only hope is the transitional government is smooth, swift, and continue to embrace western ideologies as oppose to radicalism like it seems is happening in Egypt now e.g. events in Gaza/Israel.

[Gator]

A bit off topic, but my congratulations to the Libyan rebellion. May the future be bright for the Libyan people for their cause and liberation!
 

Although I believe strongly that Obama needs to be replaced as President, I tip my hat to him.  Libya played out exactly the way he predicted. 
 
So his batting average is now 1-for-37.

[GQBlues]

Slightly. For no other reason than the fact Egypt/Pakistan/Syria is still pretty hot. Iran/NK, 67% of the Axis of Evil, are now nuclear, no pun intended.
 
As for Libya, I would hand out the Kudos to Tony Blair. He defied much of the political tidal wave for this moment. Berlusconi ought to send him a laurel for a keen foresight.

[Maxx2]

[/font][/color]

Libya: the West and al-Qaeda on the same side

Statements of support for Libya's revolution by al-Qaeda and leading Islamists have led to fears that military action by the West might be playing into the hands of its ideological enemies.[/font][/color]

http://www.telegraph.co.uk/news/worldnews/africaandindianocean/libya/8391632/Libya-the-West-and-al-Qaeda-on-the-same-side.html

The Battle For Libya Is Almost Over... As Is The Battle For Its 144 Tons Of Gold

http://www.zerohedge.com/news/battle-libya-almost-over-battle-its-144-tons-gold

Better the devil you do know?[/b][/color][/font][/color]

[BC]

$8.15/galloon? Well, I will throw a bit of sympathy your way but Italy, compared to the US, have a much better public transportation system than we do...so the overall 'benefit' at the pump will not be as pronounced as they would be in the public transporation fares..and you may be right...likely in the 'cents'...

GQ,

the price is a bit relative, not only because of public transportation but that distances to drive to the local grocer, doctor, vet, etc etc are much less.  I can get there and back with less than 2 miles on the odometer. With a car that gets at least 30 mpg (and it ain't small), more like a full sized van/suv we probably spend less than the average US family does on gas for daily needs.  I work at home so that's a plus.

It's like that throughout much of EU.  The prices for gas are higher because we need less to 'get there'.. maybe the oil company profits, maybe the government.. no matter in the end I think.

Yes, it is a bit exciting to see developments in Libya, but don't forget they have a long road ahead to stability.  Nothing can be taken for granted.

[SANDRO43]

maybe the oil company profits, maybe the government..

More than half of our gas price is taxes. A breakdown for January (€/liter):

Product                Price    Levies   VAT     Total taxes
Green gas            1,466   0,564   0,244   0,808   
Diesel fuel            1,346   0,423   0,224   0,647   
LPG                      0,791   0,125   0,132   0,257   

Levies are one-time additions to face specific emergencies. After the emergency is over, the levy remains . Here's a list of some of them:

1,90 lire - War in Abissinia, 1935 (0,001 euro);
14 lire - Suez crisis, 1956 (0,007 euro);
10 lire - Vajont dam collapse, 1963 (0,005 euro);
10 lire - Florence flood, 1966 (0,005 euro);
10 lire - Belice earthquake, 1968 (0,005 euro);
99 lire - Friuli earthquake, 1976 (0,051 euro);
75 lire - Irpinia earthquake, 1980 (0,039 euro);
205 lire - Lebanon UN mission, 1983 (0,106 euro);
22 lire  - Bosnia UN mission, 1996 (0,011 euro);

[GQBlues]

Greater than 50%?!? That's a royal smackdown, but, one I really can't comment anything on.
 
As for our cost appropriations, IIRC, the summarized cost breakdown the past 20 years or so had seen the cost to be as follows (per dollar): taxes 13%, distribution and marketing: 8%; refining 14% (on up to 23% depending on EPA standard requirements. Cal's emission standard exceeds that of federal); and the cost of crude @ 65%.
 
In general, they 'net' about 20-21 gallons of gasoline for every 42 gallon barrel. Right now with the price of oil hovering around $80/bbl, our price is roughly around +/- $3.80/gal.
 
http://energyalmanac.ca.gov/gasoline/margins/index.php
 
Sandro, we've had a few, rather modest, levies here in California as well, but usually they levy those in our state sales taxing system. For example, the 1994 Northridge Earthquake which caused billions of dollars in damages added a 'temporary' add amount to our state sales tax back then from 6.75% to 8.25% in LA county. The Landers Earthquake relief fund saw that go up a full percentage point. It's 9.25% today.
 
Anyway, as BC noted, the amounts are relative. While tax revenues seem hardly comparable, the fact we consume gas in much greater volume than folks in Italy almost balances out respective government revenues.