Showing posts with label gas prices. Show all posts
Showing posts with label gas prices. Show all posts

Saturday, July 30, 2022

"Oil company profits boom as Americans reel from high fuel prices"

"The US’s biggest oil companies pumped out record profits over the last few months as Americans struggled to pay for gasoline, food and other basic necessities.

On Friday, ExxonMobil reported an unprecedented $17.85bn (£14.77bn) profit for the second quarter, nearly four times as much as the same period a year ago, and Chevron made a record $11.62bn (£9.61bn). The sky-high profits were announced one day after the UK’s Shell shattered its own profit record.

Soaring energy prices have rattled consumers and become a political flashpoint. “We’re going to make sure everybody knows Exxon’s profits,” Joe Biden said in June. “Exxon made more money than God this year.”

The record profits came after similarly outsized gains in the first quarter when the largest oil companies made close to $100bn in profits."
Continue reading The Guardian article (subscriptions may be required)

Photograph: Karen Bleier/AFP Files/AFP/Getty Images
Photograph: Karen Bleier/AFP Files/AFP/Getty Images

Sunday, July 10, 2022

The Hill: "US on ‘cusp’ of falling gas prices"

Gasoline futures fell more than 10 percent Tuesday and are down more than 22 percent since June, raising hopes that the high price of gas across the country might soon fall. 
  • The price of U.S. crude oil fell more than 8 percent and international benchmark Brent crude fell nearly 10 percent on Tuesday. 
  • “We’re on the cusp of seeing more savings,” said Patrick De Haan, head of petroleum analysis at gas price tracking site GasBuddy. “I’m trying to be a little bit optimistic here that this relief could make its entire way to the pump in the weeks ahead.”  
The national average price for a gallon of gasoline now stands at $4.78, according to the American Automobile Association (AAA), down from a recent peak above $5 per gallon. A year ago, the national average was only $3.13, representing a 50-percent annual spike in the price of gas.  

Continue reading the Energy update from The Hill -> 

A motorist fills up a vehicle at a Shell gas station Monday, July 4, 2022, in Commerce City, Colo. (AP Photo/David Zalubowski)
A motorist fills up a vehicle at a Shell gas station Monday, July 4, 2022, in Commerce City, Colo. (AP Photo/David Zalubowski)

Tuesday, April 26, 2022

The Guardian: Oil company execs raking in the cash; "‘What we now know … they lied"

"While gas prices soar for consumers, one group of people isn’t faring so badly.

Chief executives from the largest oil and gas companies received nearly $45m more in combined total compensation in 2021 as compared to 2020 amid the steep rise in gasoline prices across the US over the last year, a new report states.

Twenty-eight major oil and gas companies, such as Shell, Exxon, BP and Marathon Petroleum, gave out $394m in total to their chief executives in 2021, according to an exclusive analysis provided to the Guardian."

Continue reading the article (subscription may be required) 

‘What we now know … they lied’: how big oil companies betrayed us all

"There is a moment in the revelatory PBS Frontline docuseries The Power of Big Oil, about the industry’s long campaign to stall action on the climate crisis, in which the former Republican senator Chuck Hagel reflects on his part in killing US ratification of the Kyoto climate treaty.

In 1997, Hagel joined with the Democratic senator Robert Byrd to promote a resolution opposing the international agreement to limit greenhouse gases, on the grounds that it was unfair to Americans. The measure passed the US Senate without a single dissenting vote, after a vigorous campaign by big oil to mischaracterize the Kyoto protocol as a threat to jobs and the economy while falsely claiming that China and India could go on polluting to their heart’s content.

The resolution effectively put a block on US ratification of any climate treaty ever since."
Continue reading the article (subscription may be required) 

A sign displays the price of gas at an Exxon gas station in Washington DC, in March. Photograph: Stefani Reynolds/AFP/Getty Images
A sign displays the price of gas at an Exxon gas station in Washington DC, in March. Photograph: Stefani Reynolds/AFP/Getty Images

Saturday, December 11, 2021

Washington Post: "Five charts explaining why inflation is at a near 40-year high" (3 min video)

"The bumpy economic recovery has had policymakers, economists and American households grappling with greater price hikes for groceries, gas, cars, rent and just about everything else we need.

The latest inflation data, released by the Bureau of Labor Statistics, showed prices in November rose to a nearly 40-year high, climbing 6.8 percent compared with the year before.

For months, officials at the Federal Reserve and White House argued that pandemic-era inflation will be temporary. But they’ve had to back away from that message, which was increasingly hard to square with what was happening in the economy — and the way Americans experience it.

Persistent supply chain backlogs and high consumer demand for goods have kept prices elevated. There is no clear answer for when that will change, leaving Americans to feel the strain in their pocketbooks in the meantime. This is a breakdown of how we got here."
Continue reading the article online (subscription maybe required)
Year-over-year changes in overall consumer price index, seasonally adjusted
Year-over-year changes in overall consumer price index, seasonally adjusted

Tuesday, October 26, 2021

"Natural gas leaks in Boston are vastly underreported"

"Six times more natural gas is leaking into the skies of Boston than is officially reported, new research shows. The study, published in the Proceedings of the National Academy of Sciences, also suggests that gas could be escaping not only from distribution pipelines but from inside businesses and homes as well — a finding that some say may be overstated.

Natural gas is made up primarily of methane, which — when released directly into the atmosphere instead of being burned first — has more than 80 times the warming potential of carbon dioxide over a 20-year period.

The study monitored natural gas methane emissions in the Boston area between 2012 and 2020. It found that an average of 49,000 tons of methane leaked into the air each year. That amounts to an estimated 2.5 percent of all gas delivered to the metro area and is equivalent to the carbon dioxide emissions of roughly a quarter-million cars operating for a year."
Continue reading the article online. (Subscription maybe required)

Crews replaced old underground gas pipes along Summit Avenue. The pipes were leaking and killing trees, adversely affecting health, and contributing to climate change.MARK LORENZ FOR THE BOSTON GLOBE/FILE
Crews replaced old underground gas pipes along Summit Avenue. The pipes were leaking and killing trees, adversely affecting health, and contributing to climate change.MARK LORENZ FOR THE BOSTON GLOBE/FILE

Tuesday, February 16, 2021

Washington Post: What is "the future of transportation funding?"

"Bruce Starr spotted the problem right away: The hydrogen-powered cars General Motors was showing off on the Oregon Capitol grounds wouldn’t need gas. And if they didn’t need gas, drivers wouldn’t be paying gas taxes that fund the state’s roads.

It was 2001, and the problem seemed urgent. GM predicted the cars would be on the market in a few years. Starr, then a Republican state representative, created a task force to figure out the future of transportation funding."
Continue reading the article online (subscription may be required)

Sunday, November 3, 2019

In the News: two articles on alternatives for gas tax and infrastructure revenues

From the Milford Daily News, articles of interest for Franklin:
"Just think about it: congestion pricing, managed lanes, tolling on routes other than just the Massachusetts Turnpike, money drawn from drivers being invested back into public transit, and a transportation system that could adapt to meet future needs.

That’s what most of a coalition of business groups supports asking the Legislature to tell the smartest minds in the state: start thinking seriously about the options for reducing congestion on roads, improving accessibility and service on public transportation, limiting greenhouse gas emissions and raising the money to pay for it in a fair and geographically-equitable way.

But in the meantime, get to raising the revenue necessary to take care of immediate needs - like structurally deficient bridges and poor roadway conditions - by taxing customers a little more for gasoline and increasing the fee built into ride service fares, much of the Massachusetts Business Coalition on Transportation agrees.

The consensus ranges from agreement among all but one group that the state needs additional revenue for transportation to very narrow majority support for specific approaches to raising that revenue. It came as the result of months of talks among the statewide group of chambers of commerce, research and planning firms, and industry associations."
Continue reading the article online (subscription may be required)

"Members of a powerful advocacy coalition are mounting an effort to include business tax measures in a revenue package designed to bankroll transportation investments, saying proposals that add to the costs of gasoline and tolls are too regressive and will only put a heavier burden on low-income and middle class residents.

House leaders are assembling a revenue plan for debate sometime in the next three weeks, but have not unveiled any specific revenue-raising proposals.

In a letter to supporters, Raise Up Massachusetts officials argued that any revenue package should include proposals to create a tiered corporate minimum tax, address offshore tax shelters used by businesses, and require businesses to publicly disclose their tax burdens. The group, which estimates its ideas would generate at least $250 million, says businesses need to kick in contributions toward needed investments."

Continue reading the article online (subscription may be required)

Friday, November 1, 2019

MassBudget: Statement on Proposed Gas Tax Increase

October 30, 2019
Statement on Proposed Gas Tax Increase 
Statement by Marie-Frances Rivera, Massachusetts Budget and Policy Center President, in response to discussions on increasing the gas tax: 

With congested highways, antiquated public transit, and limited transit options outside of Greater Boston, the Legislature and business community are debating the merits of increasing the gas tax to modernize our state's transportation system. It is critically important to understand that not only would this increase hit low and middle income communities the hardest but it would draw on a source of transportation revenue that will likely decline over the long term.

Our report, 14 Options for Raising Progressive Revenue, outlines a variety of fair and sustainable ways we can raise revenue, including raising corporate taxes. These options ask those who are benefiting most from economic growth to contribute a little more to help bring our transportation system into the 21st century.

If policymakers decide to raise the gas tax, increasing and expanding worker tax credits, such as the Earned Income Tax Credit, can create a financial buffer for some who would be hardest hit by a gas tax increase.

Interested in learning more about the pros and cons of higher gas taxes? Read our latest report here.
The Massachusetts Budget and Policy Center (MassBudget) produces policy research, analysis, and data-driven recommendations focused on improving the lives of low- and middle-income children and adults, strengthening our state's economy, and enhancing the quality of life in Massachusetts.

BOSTON, MA 02109

Massachusetts Budget and Policy Center, 1 State Street, Suite 1250, Boston, MA 02109

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Saturday, October 19, 2019

MassBudget: Gas Tax Hikes May Challenge Long-Term Revenue Sustainability and Equity

Gas Tax Hikes May Challenge Long-Term Revenue Sustainability and Equity
Read Our Latest Report Examining The Pros and Cons of Higher Gas Taxes

Raising Massachusetts tax revenue by increasing the state's gas tax would hit low- and moderate-income residents hardest and may be a shrinking source for the state's long-term transportation goals. If policymakers decide to increase the gas tax, its impact could be offset with tax credits for low-and moderate-income households.

Our latest report, The Pros and Cons of Higher Gas Taxes, and How They Could be Offset for Lower-Income Families, models how an increase to the state's Earned Income Tax Credit (EITC) can create a financial buffer for low- and moderate-income families that would be most impacted by an increased gas tax. For example, a 10-cent increase in the gas tax, now at 24 cents, could be offset by an 8 percentage point increase in the EITC, which would benefit families in the lower 40 percent of household earnings. Net revenue to the Commonwealth would be lower, but the financial impact on lower-income households would be offset by the tax credit.

Among the report's highlights:
  • A 10-cent tax increase would represent almost 0.20 percent of income for the lowest-income fifth of households, while households with the highest-income 1 percent of incomes would contribute less than 0.001 percent of their income in gas taxes.
  • Offsetting the impact of a 10-cent gas tax increase on lower-income families would require an 8-percentage point increase to the state EITC match, reducing the revenue gain by $75 million.
  • Including all state and local taxes and fees, the U.S. average gas tax nationwide is 36.17 cents - almost 10 cents above the Massachusetts total rate of 26.54 cents.
  • The number of gallons of gasoline taxed in Massachusetts used to grow substantially faster than the population. For the last two decades the number of gallons taxed per person has declined.
The Earned Income Tax Credit (EITC) is a refundable tax credit for low-income working families that supports about 400,000 households in Massachusetts. "This paper identifies how increasing the Earned Income Tax Credit could support low-income families who'd otherwise bear the greatest brunt of a gas tax increase," said Stephanie Ettinger de Cuba, Executive Director of Children's HealthWatch.  "The EITC is one of our most successful programs at keeping working families out of poverty, with large benefits for children's health and education and maternal mental health. If the increase to this program was large enough, it could be a win-win."

There has been discussion in recent months about a potential increase to the gas tax, last increased in 2013. "Transportation for Massachusetts supports a 25-cent gas tax increase to improve roads, bridges, and transit statewide. To help address equity concerns, it makes sense to pair this increase with low-income tax credits such as a stronger state EITC," said Chris Dempsey, Director of the Transportation for Massachusetts advocacy coalition.

The Massachusetts Budget and Policy Center (MassBudget) produces policy research, analysis, and data-driven recommendations focused on improving the lives of low- and middle-income children and adults, strengthening our state's economy, and enhancing the quality of life in Massachusetts. Connect with us on Facebook and Twitter.
Massachusetts Budget and Policy Center, 1 State Street, Suite 1250, Boston, MA 02109

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Tuesday, October 16, 2018

In the News: FHS preparing for Rolling Stones tribute concert; self-serve gas coming to Milford

From the Milford Daily News, articles of interest for Franklin:

"The golden age of rock ‘n’ roll is alive and well at the Franklin High School as the band, orchestra, and chorus rehearse for the upcoming Rolling Stones tribute concert. 
Last year, the school hired a Beatles cover band to rock the class out to the new year, but now they’re shifting the rock spectrum to their 60s competitors, The Rolling Stones. On Nov. 2, at 7:30 p.m. at Franklin High School, a Rolling Stones cover band will be rocking out for the school’s benefit. A few of their songs will also be accompanied by the Franklin high school, band, chorus, and orchestra. 
Last year’s BeatleMania concert raised about $5,000 from the community, and they’re hoping to attract the same attention this year. 
Music director at the Franklin High School, Diane Plouffe, said money from the show will be put towards their major trip, which occurs every four years. Plouffe said that BeatleMania was such a big success last year, and they were hoping for a similar outcome through their efforts."

Continue reading the article online (subscription may be required)

Classic Stones Live
Classic Stones Live
Tickets at Shaw's Markets or online via Purplepass

When using purplepass, go direct to

"Drivers stopping in Milford will soon be able to pump their own gas, thanks to overwhelming approval from Town Meeting members Monday night. 
“In 2018, we live in an automatic world,” resident R.J. Sheedy said. “I don’t know why, in an automatic world, we would not accept self-service gas stations in town.” 
The town has been the longtime home of full-serve-only gas stations, meaning an attendant pumps your gas."

Continue reading the article online (subscription may be required)

Saturday, September 9, 2017

In the News: suicide prevention; gas prices

From the Milford Daily News, articles of interest for Franklin:
"For some, a cry for help can come from a few taps on a touch screen. 
While suicide prevention phone lines have long provided an outlet for people seeking help in times of crisis, text-based help lines have become increasingly common in recent years. 
“We had kicked around the idea for a number of years because we had seen an ongoing transition of younger people who prefer to communicate by texting instead of with their voice over the phone,” said Steve Mongeau, executive director of Samaritans Inc. “For younger people, not just teens but people under the age of 30, we thought a text option might open up more of an opportunity.” 
Since October 2015, Boston-based Samaritans has provided text messaging support on the Massachusetts Statewide Helpline, 1-877-870-HOPE (4673). Helpline staff and trained volunteers have responded to more than 6,000 text messages, an average of close to 500 per month and growing."
Continue reading the article online (subscription may be required)

Take a walk on the Town Common - World Suicide Prevention Day - Sep 10

Take a walk on the Town Common - World Suicide Prevention Day - Sep 10

"It could take several more weeks for gas prices to come back down to earth as oil refineries begin coming back online after Hurricane Harvey battered the Texas coast. 
“Harvey’s geographic path looks like it was crafted by the devil himself in terms of the impact on the refineries, said Tom Kloza, the global head of energy analysis for the Oil Price Information Service. “It lead to precautionary shutdowns of all Texas refineries, and, at worst, reduced about 40 percent of capacity east of the Rockies. In terms of scale, it was unprecedented.” 
In Massachusetts, gas prices surged 44 cents in the course of a week, according to AAA Northeast’s Sept. 5 survey of fuel prices. The $2.70 statewide average was the highest average price recorded in Massachusetts in two years, and the spike represents the sharpest increase since Hurricane Katrina lashed Louisiana in 2005."

Continue reading the article online (subscription may be required)

Saturday, July 25, 2015

MA gas tax is just below National average

Summer time is drive time for many to travel for their vacations. Driving uses gasoline and gas prices vary state to state. What portion of the price variation is actually due to the state taxes? The American Petroleum Institute publishes a report on the state taxes and calculates a national average.

The MA total gas tax is 26.54 cents and including the Federal tax (18.4), the total per gallon is 44.94 cents. The national average is 48.88 cents.

Here is a summary report on gasoline and diesel taxes. This report is updated quarterly. API collects motor fuel tax information for all 50 states and compiles a report and chart detailing changes and calculating a nationwide average. 
API's chart reflects a weighted average for each state, meaning that any taxes which can vary across a state's jurisdiction are averaged according to the population of the local areas subject to each particular tax rate. Where appropriate, the weighted average also takes into consideration the typical percentages of premium, midgrade, and regular fuel purchased in each state. 
In states where taxes vary depending upon the price of the motor fuel (for example, where the tax rate is set as a percentage of the sales price rather than a cents per gallon method), the state average listed on the chart is a snapshot based upon the price of fuel (as reported by AAA) on the date the chart is updated. Be sure to also look at the "Notes" attachment for a detailed explanation of the various taxes included in our chart.

screen grab of API gas tax map
screen grab of API gas tax map

You can find the full report here

the interactive map here

and the MA data here:

Thursday, July 2, 2015

Atlantic Bridge Project - Letter to Franklin

Dear Town of Franklin: 
Algonquin Gas Transmission, LLC, ("Algonquin") previously informed you of its intent to develop the proposed Atlantic Bridge Project ("Project") by expanding its interstate natural gas pipeline system. In that earlier communication, we described new and replacement pipeline facilities that were being considered as determined by system design studies based upon expressions of interest from customers to move new volumes of needed natural gas along Algonquin's pipeline system. In the earlier mailing, we informed you that the proposed Atlantic Bridge Project may involve your property and that we had identified your property within the initial study corridor. 
Since that time, Algonquin has finalized its commercial agreements which has resulted in a reduced scope of the previously proposed expanded pipeline facilities in New York, Connecticut and Massachusetts. Based on the revised project design, your property, as identified above, is no longer under consideration for the Atlantic Bridge Project. 
Atlantic Bridge Project - Letter to Franklin
Atlantic Bridge Project - image from Spectra Energy webpage
However, you should know that Algonquin continues to consider separate and unrelated pipeline expansion projects that are currently in the development phase. If Algonquin ultimately determines that one of these projects may involve your property in the future, there may be a need to contact you if and when a project proposal moves forward. Nevertheless, with respect to the Atlantic Bridge Project, we presently do not have the need to access your property as previously requested outside of the existing Algonquin rights-of-way. 
We appreciate your patience and cooperation in this process with regard to our earlier request for survey permission. Please feel free to call our toll free number (888) 331-6553 if you have any questions.

This was shared from the Franklin webpage

The full PDF of the doc can also be found here

Monday, April 6, 2015

"10 miles of pipeline through towns like Franklin"

Fox25 does a piece on the recent efforts to mobilize against the Spectra Energy project to expand the gas pipeline through Franklin.

"The pipeline is still in a preliminary phase and if everything goes as planned, construction wouldn't be complete until 2017. Spectra Energy is looking for federal permission to add 10 miles of pipeline through towns like Franklin and Millis. Residents say they want to know what's in store for them before construction begins."

Boston News, Weather, Sports | FOX 25 | MyFoxBoston

a sign truck parked outside the Keller School at the information session here on March
a sign truck parked outside the Keller School at the information session here on March

Related posts

Tuesday, March 31, 2015

Concerns with the Spectra Atlantic Bridge Pipeline - Apr 2, 7:30 PM

I want you to know that concerned Franklinites are meeting this Thursday, April 2, to discuss concerns with the Spectra Atlantic Bridge Pipeline.  
The meeting is at the First Universalist Society of Franklin, 262 Chestnut St. at 7:30PM.

The informational meeting on the Atlantic Bridge Pipeline had been held at Keller School on Monday, March 16.

sign truck parked outside the informational meeting at Keller Elementary
sign truck parked outside the informational meeting at Keller Elementary

A new pipeline passing through Franklin is both unnecessary and a bad idea. An informational meeting will be held at FUSF Church (262 Chestnut St) Thursday April 2nd, 7:30pm. Please attend and become informed.

The details outlined in this posting: 7 Reasons to Oppose New Gas Pipelines in MA will be among the topics discussed on Thursday.

Friday, May 6, 2011

Gas tax collections holding steady; rate of increase slowing

Sent to you by Steve Sherlock via Google Reader:

via Commonwealth Conversations: Revenue by Robert Bliss on 5/5/11

Two months ago, DOR published a blog post noting that price spikes in gasoline had not caused a decline in consumption. That remains true today after reviewing gasoline excise tax collections for March and April.

The two months' combined collection is $96.8 million, which is $200,000 more than the same two months a year ago. Through the end of April, year-to-date gas tax collection is at $493 million. up $6.4 million from a year ago.

It is fair to say, however, that the rate of increase in gas consumption, as measured by gasoline tax collection, has slowed down. In the first six months of FY11, collections were up $5 million. In the ensuing four months (January-April of 2011) which correspond to the period in which gasoline prices have gone up, the increase over a year ago is just a little over $1 million.

Those interested in pouring over these numbers should visit DOR's Blue Book, published monthly, to review individual month and year-to-date collections of a variety of tax collections and other revenue sources. (The April edition should be up in a few days.)

This is probably a good time to review how gas tax revenues are used. As a result of reform of the state's transportation system in 2009, gasoline excise tax revenue goes into the Commonwealth Transportation Fund, along with registry fees and .385 percent of the sales tax. The fund is used to pay debt service associated with highway maintenance and construction projects and provides funding for the operation of the Massachusetts Department of Transportation (MassDOT).

Revenue from the gasoline tax, which is 21-cents per gallon, goes almost entirely (99.85 percent) into the Commonwealth Transportation Fund. The balance of fifteen-hundreths of one percent is credited to the Inland Fish and Game Fund.

One of the best explainers of the new MassDOT and its funding sources appeared in Gov. Patrick's FY11 budget proposal.

The state gasoline tax of 21-cents per gallon is not the only tax paid at the pump. The state also collects 2.5-cents per gallon to help fund the cleanup of underground storage tanks; this money goes into the state's General Fund from which the Legislature makes appropriations to pay for cleanups. And the federal government collects a federal gas tax of 18.4-cents per gallon.

The Tax Foundation publishes annually a ranking of gasoline taxes by state. Massachusetts is ranked 27th from the top out of the 50 states.

Things you can do from here:

Sunday, July 13, 2008

In the News - McGann Jr, Brick, Gas prices

The Milford Daily News has three articles of interest or reference to Franklin today.

Joseph McGann Jr. hasn't slowed down much since nailing two
state championships in wrestling at Franklin High School and a national title at
Blair Academy in Blairstown, N.J., in 2001.After wrestling for North Carolina
State, McGann kept a low profile, training in Eastern-style fighting at United
States Mixed Martial Arts in Bellingham, under Ultimate Fighting Championship
professional Jorge Rivera.

Read the full article here

Franklin -
Supporters of the Red Brick School are continuing their
efforts to keep the historically distinctive building open for classes this
year.Members of Brick School Association plan to "have a very visible presence''
at the School Committee's July 15 meeting, said association treasurer Herbert
Hunter. "We'll certainly provide plenty of input,'' Hunter said. The group is
not officially part of that meeting's agenda.The School Committee's Subcommittee
on Building Use has said it will likely recommend declaring the Red Brick as
surplus and return it the town, essentially ending the building's standing as a
one-room red brick school in continuous operation, recognized by the National
Historic Register. The School Department has announced there is no money in its
budget to continue running a kindergarten class there. About 1,000 residents
celebrated the school's 175th anniversary this June, said Deborah Pellegri, town
clerk and Brick School Association member.

Read the full article here

Franklin -

In Franklin, developer John Marini is mixing downtown
apartments with shops and office space, all a stone's throw from a downtown
commuter rail stop. Westborough's Bay State Commons, which opened last year,
combines everything from a Roche Brothers supermarket to 44 luxury

Read the full article here