Better Fill up today

[frawin]

Tobina, Seaweed/Algae is also being considered for Ethanol. I have read that it is the Fastest reproducing and most plentiful possibility.  Seaweed/Algae would not take up Farmland that can be used for Food. The big thing is still long range conservation, America is the most Energy using/Wasteful Nation on Earth by far and that has to change. The World Population is growing at compound rates and so is energy consumption.
Frank

[W. Gray]

A Denver Lincoln dealer today was advertising Lincoln Mark pickup trucks for $14,000 off list price.

The price is still $31,000.

The truck has a 30 to 36 gallon tank and gets 12 - 16 miles per gallon.

[frawin]

July crude closed at $134.01 down $0.60, on a more positive note there were less long contracts than what there has been. The Crude Oil/Product inventories come out tommorrow and it will be interesting to see what the numbers are.
Frank

[frawin]

This is somewhat encouraging:

June 18 (Bloomberg) -- Crude oil traded little changed before a U.S. report today expected to show fuel stockpiles rose in the world's largest energy consumer, where record prices are slowing demand.

The Energy Department report may show U.S. gasoline stockpiles rose 850,000 barrels last week, according to the median of forecasts in a Bloomberg News survey. Consumers purchased an average 9.305 million barrels a day of motor fuels last week, 3.2 percent less than a year earlier, MasterCard Inc. said in its weekly SpendingPulse report yesterday.

``The U.S. data this afternoon will give some indication on implied demand,'' said Eugen Weinberg, an analyst Commerzbank AG in Frankurt. ``Seasonally gasoline demand is relatively low, but at these levels price levels it should be lower.''

Crude oil for July delivery traded at $133.60 a barrel, down 41 cents, in electronic trading on the New York Mercantile Exchange at 10:36 a.m. London time. Earlier, the contract fell as much as 85 cents, or 0.6 percent, to $133.16 a barrel.

Futures have fallen 4.3 percent since reaching a record $139.89 a barrel on June 16. Still, prices are 93 percent higher than a year earlier.

[frawin]

Inventories are out and there was some decrease in Gasoline and Diesel Consumption verses last year for the same period. July Crude is trading down $1.81 at $132.20. If crude and Gasoline/Diesel were to go down very much, demand and consumption will go right back up and we will be in the same energy crunch. Hopefully there will be some mandates regarding future automobile engine requirements, more spent on research for Hybrids and alternative fuels and some long range conservation measures.

One thing I find interesting is the Democrat controlled congress and the Democrat Nominee for President are advocating big taxes burdens on the Major Oil Companies and out of the other side of their mouth they want the oil companies to spend more on Research, adding refining capacity and adding more production. Basically they are saying we want the oil companies to spend more but we want reduce what you have to spend.
Frank

[W. Gray]

They also want oil companies to spend more on alternative energy methods.

While that might sound like good advice, government should not be telling private companies what to do or how they should operate.

At some point when oil gets to a certain price, market forces will kick in and alternative energy research will automatically rev up by the oil companies or by someone else.

[Tobina+1]

Does anyone feel like this is just a vicious circle?
So, prices on trucks are going down... which means that more people can afford to buy one and will be driving them more and spending more on gas.
At the same time, since Hybrids and high gas mileage cars are becoming more popular, so the prices of those cars are going up... which means that less people can afford to buy one.
Does anyone know if there are still tax breaks for people who buy a hybrid?

[frawin]

Tobina, heere are the current tax credits avaiable on Hybrids. If it is a leased Vehicle the leasing company gets the credit.

2008 Model Year Hybrid Vehicles
 

Make
Model
Credit Amount

Chevrolet
    Malibu Hybrid
$1,300

Chevrolet
Tahoe Hybrid 2WD and 4WD
  $2,200

Ford
  Escape Hybrid 2WD
  $3,000

Ford
  Escape Hybrid 4WD
  $2,200

GMC
Yukon Hybrid
$2,200

Honda**
Civic CVT
Purchase Date

Prior to 1/1/08
$2,100

1/1/08 -- 6/30/08
$1,050

7/1/08 -- 12/31/08
$525

1/1/09 and later
$0

Mazda
Tribute 2WD
$3,000

Mazda
Tribute 4WD
$2,200

Mercury
  Mariner Hybrid 2WD
  $3,000

Mercury
  Mariner Hybrid 4WD
  $2,200

Nissan
Altima Hybrid
$2,350

Saturn
    Aura hybrid
$1,300

Saturn
Vue Green Line
$1,550

Toyota*
Camry Hybrid
Purchase Date

1/1/06 -- 9/30/06
$2,600

10/1/06 --3/31/07
$1,300

4/1/07 -- 9/30/07
$   650

10/1/2007 and later
$       0

Toyota*
Prius
Purchase Date

1/1/06 -- 9/30/06
$3,150

10/1/06 --3/31/07
$1,575

4/1/07 -- 9/30/07
$787.50

10/1/2007 and later
$       0

Toyota*
Highlander  Hybrid 4WD
Purchase Date

1/1/06 -- 9/30/06
$2,600

10/1/06 --3/31/07
$1,300

4/1/07 -- 9/30/07
$   650

10/1/2007 and later
$       0

Lexus*
RX 400h 2WD and 4WD
Purchase Date

1/1/06 -- 9/30/06
$2,200

10/1/06 --3/31/07
$1,100

4/1/07 -- 9/30/07
$   550

10/1/2007 and later
$       0

Lexus*
LS 600h L Hybrid
Purchase Date

1/1/06 -- 9/30/06
$1,800

10/1/06 --3/31/07
$900

4/1/07 -- 9/30/07
$   450

10/1/2007 and later
$       0




updated 1/2/08

   
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[W. Gray]

I think the automobile corporations will be getting out of the large vehicle business.

GM has already said they will be going to smaller more fuel efficient vehicles.

Europe, though, long ago went to smaller more efficient cars and they still pay $9-11 per gallon. Of course, part of this is going to support a socialistic lifestyle.

This same thing happened in the 70s fuel crunch when all American manufacturers downsized, etc., but over time as people became used to the higher gas prices, vehicle size crept backup.

[frawin]

I would like to see a tax program on new vehicles that would Tax a new vehicle with a 10 cylinder engine $10,000.00, an 8 Cylinder $8,000.00 no tax on a 6 cylinder at present, a tax break on Hybrids and 4 cylinder vehicles. It could be announced to start in 5 years or sometime out to give the manufacturers time to prepare. On the 10 cylinder vehicles and the 8 cylinder vehicles, apply the same tax every year when they tag them. While this may seem drastic, there are many people in America that have the attitude " I have the Money and I can afford the gasoline for my big vehicle and I am going to keep driving it no matter how inefficent it is and no matter what the fuel cost." America's Achilles Heel is the availibility of Gasoline/Diesel.
Frank