Denver Post- October 16, 2008
The frustrating issue with the price of oil is how so many people criticise the president or government with changing the price of oil. Oil prices are based on global market values set by OPEC and regional oil producers, not individual governments or people. The American public also criticises how the government taxes the sale of gas, but the US has among the lowest fuel taxes of industrial nations (about $0.47/gal)- UK $3.80/gal, Canada $0.57, Norway $1.42/liter. The US is among the cheapest gasoline countries, yet the public is furious with $3.50/gal when Netherlands pay $3.50 just for the tax. Get used to the fact that the end of cheap oil is upon us. Oil will only become more expensive to extract because of location and environmental regulations.
http://www.denverpost.com/business/ci_10740037
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