So I was inspired to make this post since I got this image sent to me once again.
Let’s take a look.
stats:
June 2nd 2008 $147.50 Brent crude
June 15th 2020 $130.00 Brent crude
Exchange rates
20/6/22 €1 is $1.05
2/6/08 €1 was $1.44
Oil refinery costs $12 a barrel 2/6/22
Oil refinery cost $54 a barrel 15/6/22
So in summary why is this tweet misleading? Well from what I can work out:
In 2008 oil peaked at €103 a barrel.
In 2008 Oil refinery costs were €8 a barrel
In total this is €111 a barrel
In 2022 Oil peaked at €122 a barrel
In 2022 Oil refinery costs €50 a barrel.
In total this is €172 a barrel
I can do more numbers but in short, I am not very comfortable with people misleading other people into thinking there is this magic cartel going around or that the government has magically started fleecing us.
In fact, when you take into account the government reducing the price of unleaded by 20c, it looks to me that the governments fixed tax on fuel is only 1C more per litre than in 2008.
And before you downvote this to shit, let’s chat. Let’s work this out eh? I love being shown how wrong I am. Genuinely.
It’s misleading to pretend it was never taxed.
Serious amount of doomsday amateur economists who don’t know what they’re talking about spreading panic right now.
People have no fcking clue, if they can’t realize price means shit since over 33% competition was cut off.
Ireland doesn’t get American oil, it’s mix of British whatever EU, and they cost differently per barrel, whatever other countries might get it at.
It’s both, but the taxation is what will ultimately push people away from fossil fuels meaning we don’t continue to have these dumb energy crises every 10 years indefinitely.
Why is fuel expensive? because OPEC want it that way. We need to cut the fuckers out.
I don’t know how much Brent got his crude for in 2008. What I do know is that one litre of unleaded petrol in my local garage in February 2020 was 107.8. it is now 220.9.
So it has jumped slightly in price.
Keep smiling.
Sorry OP, I agree with your message here and I think most commenting clearly do too but your post is getting down voted.
I think this is because that tweet features so heavily that it looks at first glance like you’re promoting it, I believed so myself before looking closer. You might find your message reaching more people if you put your message in the body of the post instead of the screenshot.
Worth noting as well, there are rules set at EU level on excise and VAT on fuel. No govt has a free hand to just reduce the tax level to zero, even if that was the right thing to do, which is highly questionable in itself.
10 comments
So I was inspired to make this post since I got this image sent to me once again.
Let’s take a look.
stats:
June 2nd 2008 $147.50 Brent crude
June 15th 2020 $130.00 Brent crude
Exchange rates
20/6/22 €1 is $1.05
2/6/08 €1 was $1.44
Oil refinery costs $12 a barrel 2/6/22
Oil refinery cost $54 a barrel 15/6/22
So in summary why is this tweet misleading? Well from what I can work out:
In 2008 oil peaked at €103 a barrel.
In 2008 Oil refinery costs were €8 a barrel
In total this is €111 a barrel
In 2022 Oil peaked at €122 a barrel
In 2022 Oil refinery costs €50 a barrel.
In total this is €172 a barrel
I can do more numbers but in short, I am not very comfortable with people misleading other people into thinking there is this magic cartel going around or that the government has magically started fleecing us.
In fact, when you take into account the government reducing the price of unleaded by 20c, it looks to me that the governments fixed tax on fuel is only 1C more per litre than in 2008.
And before you downvote this to shit, let’s chat. Let’s work this out eh? I love being shown how wrong I am. Genuinely.
It’s misleading to pretend it was never taxed.
Serious amount of doomsday amateur economists who don’t know what they’re talking about spreading panic right now.
What ye think of this?:
[Why Gas Got So Expensive (It’s Not the War)](https://www.youtube.com/watch?v=AQbmpecxS2w)
People have no fcking clue, if they can’t realize price means shit since over 33% competition was cut off.
Ireland doesn’t get American oil, it’s mix of British whatever EU, and they cost differently per barrel, whatever other countries might get it at.
It’s both, but the taxation is what will ultimately push people away from fossil fuels meaning we don’t continue to have these dumb energy crises every 10 years indefinitely.
Why is fuel expensive? because OPEC want it that way. We need to cut the fuckers out.
I don’t know how much Brent got his crude for in 2008. What I do know is that one litre of unleaded petrol in my local garage in February 2020 was 107.8. it is now 220.9.
So it has jumped slightly in price.
Keep smiling.
Sorry OP, I agree with your message here and I think most commenting clearly do too but your post is getting down voted.
I think this is because that tweet features so heavily that it looks at first glance like you’re promoting it, I believed so myself before looking closer. You might find your message reaching more people if you put your message in the body of the post instead of the screenshot.
Worth noting as well, there are rules set at EU level on excise and VAT on fuel. No govt has a free hand to just reduce the tax level to zero, even if that was the right thing to do, which is highly questionable in itself.
tankies