{"id":751,"date":"2009-06-12T11:57:22","date_gmt":"2009-06-12T15:57:22","guid":{"rendered":"https:\/\/freedom24.org\/rationalpost\/?p=751"},"modified":"2009-09-22T00:00:49","modified_gmt":"2009-09-22T04:00:49","slug":"fuel-tax","status":"publish","type":"post","link":"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/","title":{"rendered":"fuel tax"},"content":{"rendered":"<p><em>An interesting piece of analysis via <\/em><em><a href=\"http:\/\/www.ritholtz.com\/blog\/2009\/06\/gasoline-prices-not-again\/\" target=\"_blank\">TBP<\/a> about<\/em><em> rising gas prices crowding out retail and industrial consumption. The premise is sound but fails to acknowledge the already stimulative effect of a $2.50 decline in prices from their 2008 peak&#8230;<\/em><\/p>\n<p><a href=\"http:\/\/www.fewings.ca\/web\/2006\/optimized\/060710gaspricesc.jpg\" data-rel=\"lightbox-image-0\" data-rl_title=\"\" data-rl_caption=\"\"><img decoding=\"async\" class=\"alignright size-full wp-image-936\" title=\"\" src=\"https:\/\/freedom24.org\/rationalpost\/wp-content\/uploads\/2009\/06\/gas_prices.jpg\" alt=\"gas_prices\" width=\"300\" srcset=\"https:\/\/freedom24.org\/rationalpost\/wp-content\/uploads\/2009\/06\/gas_prices.jpg 432w, https:\/\/freedom24.org\/rationalpost\/wp-content\/uploads\/2009\/06\/gas_prices-150x150.jpg 150w, https:\/\/freedom24.org\/rationalpost\/wp-content\/uploads\/2009\/06\/gas_prices-300x300.jpg 300w\" sizes=\"(max-width: 432px) 100vw, 432px\" \/><\/a><!--more-->As if the US consumer didn\u00e2\u20ac\u2122t have enough to worry about, following the DOE data, the front gasoline contract is rallying to the highest level since Oct 15th \u00e2\u20ac\u02dc08. This morning, AAA said the national average for unleaded gasoline rose to $2.63, the most since Oct 28th \u00e2\u20ac\u02dc08, up from the recent low of $1.62 at the end of Dec. To quantify, the US uses about 9mm barrels of gasoline per day with 42 gallons in each barrel, thus 378mm gallons per day and almost 140b per year. Therefore, for every $1 move in the price of gasoline, it\u00e2\u20ac\u2122s an extra $140b more in consumer spending at the pump. If gasoline prices stay elevated, it will dramatically dilute the tax cut portion of the Obama stimulus plan. On Feb 17th, Pres Obama signed the $787b stimulus plan that included $237b of \u00e2\u20ac\u02dctax relief\u00e2\u20ac\u2122 for individuals, $116b of which was a temporary payroll tax credit for income earners under a certain level.<\/p>\n<p>DISCLAIMER<\/p>\n<p>Although the information contained herein has been obtained from sources Miller Tabak + Co., LLC believes to be reliable, its accuracy and completeness cannot be guaranteed. This report is for informational purposes only and under no circumstances is it to be construed as an offer to sell, or a solicitation to buy, any security. At various times we may have positions in and effect transactions in securities referred to herein. Any recommendation contained in this report may not be appropriate for all investors. Trading options is not suitable for all investors and involves risk of loss. Although the information contained in the subject report (not including disclosures contained herein) has been obtained from sources we believe to be reliable, the accuracy and completeness of such information and the opinions expressed herein cannot be guaranteed. An options disclosure document may be obtained from Mr. Jay Stenberg, Miller Tabak + Co., LLC., 331 Madison Avenue, New York, NY 10017. Additional information is available upon request.<\/p>\n<p>Member  NYSE, NASD, CBOE, PHLX, ISE, NFA.<\/p>\n<p>Member SIPC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An interesting piece of analysis via TBP about rising gas prices crowding out retail and industrial consumption. The premise is sound but fails to acknowledge the already stimulative effect of a $2.50 decline in prices from their 2008 peak&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_s2mail":"","footnotes":""},"categories":[2,21,1],"tags":[26,34,36,35],"class_list":["post-751","post","type-post","status-publish","format-standard","hentry","category-finance-economics","category-financial-crisis","category-other","tag-crisis","tag-gas","tag-oil","tag-prices"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>fuel tax - The Rational Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"fuel tax - The Rational Post\" \/>\n<meta property=\"og:description\" content=\"An interesting piece of analysis via TBP about rising gas prices crowding out retail and industrial consumption. The premise is sound but fails to acknowledge the already stimulative effect of a $2.50 decline in prices from their 2008 peak&#8230;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/\" \/>\n<meta property=\"og:site_name\" content=\"The Rational Post\" \/>\n<meta property=\"article:published_time\" content=\"2009-06-12T15:57:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2009-09-22T04:00:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/freedom24.org\/rationalpost\/wp-content\/uploads\/2009\/06\/gas_prices.jpg\" \/>\n<meta name=\"author\" content=\"The Editor\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Editor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/\",\"url\":\"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/\",\"name\":\"fuel tax - The Rational Post\",\"isPartOf\":{\"@id\":\"https:\/\/freedom24.org\/rationalpost\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/freedom24.org\/rationalpost\/wp-content\/uploads\/2009\/06\/gas_prices.jpg\",\"datePublished\":\"2009-06-12T15:57:22+00:00\",\"dateModified\":\"2009-09-22T04:00:49+00:00\",\"author\":{\"@id\":\"https:\/\/freedom24.org\/rationalpost\/#\/schema\/person\/283fe28dc4dbcdd4b4cf199931549e0b\"},\"breadcrumb\":{\"@id\":\"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/#primaryimage\",\"url\":\"https:\/\/freedom24.org\/rationalpost\/wp-content\/uploads\/2009\/06\/gas_prices.jpg\",\"contentUrl\":\"https:\/\/freedom24.org\/rationalpost\/wp-content\/uploads\/2009\/06\/gas_prices.jpg\",\"width\":\"432\",\"height\":\"432\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/freedom24.org\/rationalpost\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"fuel tax\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/freedom24.org\/rationalpost\/#website\",\"url\":\"https:\/\/freedom24.org\/rationalpost\/\",\"name\":\"The Rational Post\",\"description\":\"A collection of essays and articles on the science of everyday life\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/freedom24.org\/rationalpost\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/freedom24.org\/rationalpost\/#\/schema\/person\/283fe28dc4dbcdd4b4cf199931549e0b\",\"name\":\"The Editor\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/freedom24.org\/rationalpost\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f86e535a97f912bdd424fbc1e2e03c7cd61d620df1d67992619d98e857242139?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f86e535a97f912bdd424fbc1e2e03c7cd61d620df1d67992619d98e857242139?s=96&d=mm&r=g\",\"caption\":\"The Editor\"},\"description\":\"Founder of Freedom24\",\"sameAs\":[\"http:\/\/www.rationalpost.com\"],\"url\":\"https:\/\/freedom24.org\/rationalpost\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"fuel tax - The Rational Post","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/","og_locale":"en_US","og_type":"article","og_title":"fuel tax - The Rational Post","og_description":"An interesting piece of analysis via TBP about rising gas prices crowding out retail and industrial consumption. The premise is sound but fails to acknowledge the already stimulative effect of a $2.50 decline in prices from their 2008 peak&#8230;","og_url":"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/","og_site_name":"The Rational Post","article_published_time":"2009-06-12T15:57:22+00:00","article_modified_time":"2009-09-22T04:00:49+00:00","og_image":[{"url":"https:\/\/freedom24.org\/rationalpost\/wp-content\/uploads\/2009\/06\/gas_prices.jpg","type":"","width":"","height":""}],"author":"The Editor","twitter_misc":{"Written by":"The Editor","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/","url":"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/","name":"fuel tax - The Rational Post","isPartOf":{"@id":"https:\/\/freedom24.org\/rationalpost\/#website"},"primaryImageOfPage":{"@id":"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/#primaryimage"},"image":{"@id":"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/#primaryimage"},"thumbnailUrl":"https:\/\/freedom24.org\/rationalpost\/wp-content\/uploads\/2009\/06\/gas_prices.jpg","datePublished":"2009-06-12T15:57:22+00:00","dateModified":"2009-09-22T04:00:49+00:00","author":{"@id":"https:\/\/freedom24.org\/rationalpost\/#\/schema\/person\/283fe28dc4dbcdd4b4cf199931549e0b"},"breadcrumb":{"@id":"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/freedom24.org\/rationalpost\/fuel-tax\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/#primaryimage","url":"https:\/\/freedom24.org\/rationalpost\/wp-content\/uploads\/2009\/06\/gas_prices.jpg","contentUrl":"https:\/\/freedom24.org\/rationalpost\/wp-content\/uploads\/2009\/06\/gas_prices.jpg","width":"432","height":"432"},{"@type":"BreadcrumbList","@id":"https:\/\/freedom24.org\/rationalpost\/fuel-tax\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/freedom24.org\/rationalpost\/"},{"@type":"ListItem","position":2,"name":"fuel tax"}]},{"@type":"WebSite","@id":"https:\/\/freedom24.org\/rationalpost\/#website","url":"https:\/\/freedom24.org\/rationalpost\/","name":"The Rational Post","description":"A collection of essays and articles on the science of everyday life","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/freedom24.org\/rationalpost\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/freedom24.org\/rationalpost\/#\/schema\/person\/283fe28dc4dbcdd4b4cf199931549e0b","name":"The Editor","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/freedom24.org\/rationalpost\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f86e535a97f912bdd424fbc1e2e03c7cd61d620df1d67992619d98e857242139?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f86e535a97f912bdd424fbc1e2e03c7cd61d620df1d67992619d98e857242139?s=96&d=mm&r=g","caption":"The Editor"},"description":"Founder of Freedom24","sameAs":["http:\/\/www.rationalpost.com"],"url":"https:\/\/freedom24.org\/rationalpost\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/freedom24.org\/rationalpost\/wp-json\/wp\/v2\/posts\/751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/freedom24.org\/rationalpost\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/freedom24.org\/rationalpost\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/freedom24.org\/rationalpost\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/freedom24.org\/rationalpost\/wp-json\/wp\/v2\/comments?post=751"}],"version-history":[{"count":12,"href":"https:\/\/freedom24.org\/rationalpost\/wp-json\/wp\/v2\/posts\/751\/revisions"}],"predecessor-version":[{"id":937,"href":"https:\/\/freedom24.org\/rationalpost\/wp-json\/wp\/v2\/posts\/751\/revisions\/937"}],"wp:attachment":[{"href":"https:\/\/freedom24.org\/rationalpost\/wp-json\/wp\/v2\/media?parent=751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/freedom24.org\/rationalpost\/wp-json\/wp\/v2\/categories?post=751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/freedom24.org\/rationalpost\/wp-json\/wp\/v2\/tags?post=751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}