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Why gas should be about a buck a gallon « Getting at the truth

Escape from Paradise, – A Best Selling Book!

The book’s sensational reviews!

It took me two and a half evenings to complete your un-put-downable book…it is a unique contribution to the appreciation of a life in Singapore. Thank you for having written it.” C. V. Devan Nair, former President of Singapore.

Bought the book from Select this weekend and can’t put it down! It’s a great read! And so nostalgic for me—the good old days! Glen Goei, writer and director of the Miramax film That’s the Way I Like It and who played the title role opposite Anthony Hopkins in the London production of M. Butterfly. Mr. Goei’s latest film is The Blue Mansion – Click for the trailer!

It is a remarkable story and so full of intrigue that it reads at times like fiction.Jonathan Burnham, Editor in Chief & President, Talk Miramax Books.

“It’s quite a story The legendary Alice Mayhew, Vice-President & Editorial Director, Simon & Schuster.

This book out-Dallas, Dallas. No one has written so well of the other side of paradise,Francis T. Seow, former Solicitor General of Singapore

ThunderBall Films is successfully putting together the movie production of Escape from Paradise and has received a new LOI (Letter of Intent) from actress Bai Ling who starred with Richard Gere in the film Red Cross.

Buy the Book!

Escape from Paradise – the Promotional Trailer

Mary Bancroft – Master Spy

“I can’t understand what the f–k you are saying.” The voice came from an elderly lady in the back row of my computer class. It was from Mary Bancroft, a part owner of The Wall Street Journal. She is the author of Autobiography of a Spy and was the woman behind the plot to kill Hitler, the lover of CIA chief, Allen Dulles, the lady who invited me to dinner to meet Woody Allen and, yes, Mary Bancroft was my computer student.

Click to buy: https://amzn.to/2V6MOwC

Copyright

Copyright © 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020 John Harding

Why gas should be about a buck a gallon

 

Gas price components

Gas price components. US Department of Energy

 

Price of gas $0.91 in Saudi Arabia, $0.78 in Kuwait, $1.74 in Puerto Rico (part of the USA). So how can that be?

It costs less than a dollar to produce a barrel of oil in Saudi Arabia—I know, I worked for Saudi Aramco, the Saudi oil company.

The price of crude is not driven up by speculators. It is set by collusion between the USA and OPEC.

Let’s do the math

– it’s simple

– you should be paying a little over

a dollar a gallon!

The artificial cost of crude oil accounts for 73% of the cost of gas at the pump. Now crude is at $100 a barrel.

73% of $4.00 per gallon comes to $2.92. All the other components for your gallon of gas come to $4.00 minus that $2.92 for crude, which equals 1.08 per gallon.

Let’s not be greedy – let’s give the Saudis and the others a chance to have a decent 1000% profit. That would bring the price of crude to $10 a barrel.

The cost component of crude in a gallon of gas would then be one tenth of $2.92, or 29 cents.

Then a gallon of gas at the pump would cost $1.08 plus $0.29 = $1.37.

There you have it…

Well, except that certain oil producing countries have driven themselves so far into debt that they need the revenue to service that debt. Oil rich Saudi Arabia, needs $80 a barrel just to service it’s debt. In fact, on January 16, 2012, Saudi Arabia announced its target price was $100 per barrel to sustain its public expenditures.

Debt is the demise of capitalism.