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Veteran
Posts: 229
 
Location: Montana | foundation horse - 2015-01-26 11:43 AM
As far as the 'why' for this current down turn...........Saudia Arabia is attempting to crush the U.S. Oil Field by releasing a surplus of its stored oil into the market. Even with their recent change in Leadership last week, this still holds true. It is a basic principle of Economics. Supply and Demand, the supply is currently greater than the demand, so therefore prices are lower. However, from what I understand many OF Outfits are much better position this time around than previous downturns.
Â
I believe you will find they are actually after the Russians, the crash of the American oil fields is just a side effect. | |
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  Semper Fi
  
Location: North Texas | runsupport - 2015-02-03 10:00 AM foundation horse - 2015-01-26 11:43 AM As far as the 'why' for this current down turn...........Saudia Arabia is attempting to crush the U.S. Oil Field by releasing a surplus of its stored oil into the market. Even with their recent change in Leadership last week, this still holds true. It is a basic principle of Economics. Supply and Demand, the supply is currently greater than the demand, so therefore prices are lower. However, from what I understand many OF Outfits are much better position this time around than previous downturns.
I believe you will find they are actually after the Russians, the crash of the American oil fields is just a side effect.
'I' have always operated under the pretense that the Saudis "liked" the Russians more than Americans due to American Culture 'infecting' Saudi Arabia and createing a taste for freedom that The Ruling Family is terrified of. | |
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The Advice Guru
Posts: 6419
| runsupport - 2015-02-03 10:00 AM
foundation horse - 2015-01-26 11:43 AM
As far as the 'why' for this current down turn...........Saudia Arabia is attempting to crush the U.S. Oil Field by releasing a surplus of its stored oil into the market. Even with their recent change in Leadership last week, this still holds true. It is a basic principle of Economics. Supply and Demand, the supply is currently greater than the demand, so therefore prices are lower. However, from what I understand many OF Outfits are much better position this time around than previous downturns.
Â
I believe you will find they are actually after the Russians, the crash of the American oil fields is just a side effect.
My understanding was this was directed at Obama as he thought he could play with the big boys, and OPEC said no.
The rumor I am terrified about is OPEC is now saying oil will make 200/barrel next yr.
All I want is a happy medium | |
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 Expert
Posts: 1857
| foundation horse - 2015-02-01 1:52 PM
Itsme - 2015-02-01 9:43 AM Welcome to the "mileage tax".
Not happening. That is one thing the American Public will not accept. Â
Isn't that what IFTA is for fleets? They are suppose to use it to maintain roads but.... | |
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Semper Fi
Location: North Texas | FlyingJT - 2015-02-03 11:25 AM foundation horse - 2015-02-01 1:52 PM Itsme - 2015-02-01 9:43 AM Welcome to the "mileage tax". Not happening. That is one thing the American Public will not accept.
Isn't that what IFTA is for fleets? They are suppose to use it to maintain roads but....
Please elaborate.
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Tried and True
Posts: 21185
Location: Where I am happiest | cheryl makofka - 2015-02-03 11:07 AM runsupport - 2015-02-03 10:00 AM foundation horse - 2015-01-26 11:43 AM As far as the 'why' for this current down turn...........Saudia Arabia is attempting to crush the U.S. Oil Field by releasing a surplus of its stored oil into the market. Even with their recent change in Leadership last week, this still holds true. It is a basic principle of Economics. Supply and Demand, the supply is currently greater than the demand, so therefore prices are lower. However, from what I understand many OF Outfits are much better position this time around than previous downturns.
I believe you will find they are actually after the Russians, the crash of the American oil fields is just a side effect. My understanding was this was directed at Obama as he thought he could play with the big boys, and OPEC said no. The rumor I am terrified about is OPEC is now saying oil will make 200/barrel next yr. All I want is a happy medium
Oh good gravy I sure hope not!! Many many will go under at that price. Do you remimber when diesel hit $5 a gallon? | |
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Expert
Posts: 1857
| foundation horse - 2015-02-03 1:58 PM
FlyingJT - 2015-02-03 11:25 AM foundation horse - 2015-02-01 1:52 PM Itsme - 2015-02-01 9:43 AM Welcome to the "mileage tax". Not happening. That is one thing the American Public will not accept.
 Isn't that what IFTA is for fleets? They are suppose to use it to maintain roads but.... Â
International Fuel Tax Association
Commercial fleets pay a tax based on average fuel mileage applied to the miles driven which determines the tax owed to each state. I think the current annual rate is 5%. Every time they buy fuel they log it and then they are taxed on how many miles the drove with that tank through each state. I'm not sure exactly how it works, but I think it's basically a "mileage tax", but only for large vehicles... for now at least.
I wonder if they will try to make it apply to those of use pulling trailers. Anything over 2 axles. I mean that would suck to have to buy a permit to haul to rodeos or haul horses and cattle. Oklahoma has exempt farm tags from the tax.
They are suppose to use that money to repair bridges, roads, etc. | |
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Semper Fi
Location: North Texas | FlyingJT - 2015-02-03 2:20 PM foundation horse - 2015-02-03 1:58 PM FlyingJT - 2015-02-03 11:25 AM foundation horse - 2015-02-01 1:52 PM Itsme - 2015-02-01 9:43 AM Welcome to the "mileage tax". Not happening. That is one thing the American Public will not accept.
Isn't that what IFTA is for fleets? They are suppose to use it to maintain roads but.... International Fuel Tax Association Commercial fleets pay a tax based on average fuel mileage applied to the miles driven which determines the tax owed to each state. I think the current annual rate is 5%. Every time they buy fuel they log it and then they are taxed on how many miles the drove with that tank through each state. I'm not sure exactly how it works, but I think it's basically a "mileage tax", but only for large vehicles... for now at least. I wonder if they will try to make it apply to those of use pulling trailers. Anything over 2 axles. I mean that would suck to have to buy a permit to haul to rodeos or haul horses and cattle. Oklahoma has exempt farm tags from the tax. They are suppose to use that money to repair bridges, roads, etc.
What part of Interstate Commerce Commission does "international" have authority to tax anything?!
The ICC and taxes are Constitutional for NATIONAL Use/Collection Only!!!!!!!!!!!!!
Again, when this type of News reaches The American Public, Government is screwed!
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 Extreme Veteran
Posts: 356
| foundation horse - 2015-02-03 2:56 PM
FlyingJT - 2015-02-03 2:20 PM foundation horse - 2015-02-03 1:58 PM FlyingJT - 2015-02-03 11:25 AM foundation horse - 2015-02-01 1:52 PM Itsme - 2015-02-01 9:43 AM Welcome to the "mileage tax". Not happening. That is one thing the American Public will not accept.
 Isn't that what IFTA is for fleets? They are suppose to use it to maintain roads but....
 International Fuel Tax Association Commercial fleets pay a tax based on average fuel mileage applied to the miles driven which determines the tax owed to each state. I think the current annual rate is 5%. Every time they buy fuel they log it and then they are taxed on how many miles the drove with that tank through each state. I'm not sure exactly how it works, but I think it's basically a "mileage tax", but only for large vehicles... for now at least. I wonder if they will try to make it apply to those of use pulling trailers. Anything over 2 axles. I mean that would suck to have to buy a permit to haul to rodeos or haul horses and cattle. Oklahoma has exempt farm tags from the tax. They are suppose to use that money to repair bridges, roads, etc.
The ICC and taxes are Constitutional for NATIONAL Use/Collection Only!!!!!!!!!!!!!
Again, when this type of News reaches The American Public, Government is screwed! Â
The International Fuel Tax Agreement (or IFTA) is an agreement between the lower 48 states of the United States and the Canadian provinces, to simplify the reporting of fuel use by motor carriers that operate in more than one jurisdiction. Alaska, Hawaii, and the Canadian territories do not participate. An operating carrier with IFTA receives an IFTA license and two decals for each qualifying vehicle it operates. The carrier files a quarterly fuel tax report. This report is used to determine the net tax or refund due and to redistribute taxes from collecting states to states that it is due.
This tax is required for motor vehicles used, designed, or maintained for transportation of persons or property and:
Having two axles and a gross vehicle weight rating or registered gross vehicle weight in excess of 26,000 pounds, and/or
Having three or more axles regardless of weight, and/or
Is used in combination, when the weight of such combination exceeds 26,000 pounds gross vehicle or registered gross vehicle weight.[1]
Exceptions exist for Recreational Vehicles (such as motor homes, pickup trucks with attached campers, and buses when used exclusively for personal pleasure by an individual)[2]. Some states have their own exemptions [3] that often apply to farm vehicles or government vehicles. | |
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 Fact Checker
Posts: 16575
Location: Displaced Iowegian | k.maddocks24 - 2015-02-03 4:38 PM foundation horse - 2015-02-03 2:56 PM FlyingJT - 2015-02-03 2:20 PM foundation horse - 2015-02-03 1:58 PM FlyingJT - 2015-02-03 11:25 AM foundation horse - 2015-02-01 1:52 PM Itsme - 2015-02-01 9:43 AM Welcome to the "mileage tax". Not happening. That is one thing the American Public will not accept. Isn't that what IFTA is for fleets? They are suppose to use it to maintain roads but.... International Fuel Tax Association Commercial fleets pay a tax based on average fuel mileage applied to the miles driven which determines the tax owed to each state. I think the current annual rate is 5%. Every time they buy fuel they log it and then they are taxed on how many miles the drove with that tank through each state. I'm not sure exactly how it works, but I think it's basically a "mileage tax", but only for large vehicles... for now at least. I wonder if they will try to make it apply to those of use pulling trailers. Anything over 2 axles. I mean that would suck to have to buy a permit to haul to rodeos or haul horses and cattle. Oklahoma has exempt farm tags from the tax. They are suppose to use that money to repair bridges, roads, etc.
The ICC and taxes are Constitutional for NATIONAL Use/Collection Only!!!!!!!!!!!!!
Again, when this type of News reaches The American Public, Government is screwed! The International Fuel Tax Agreement (or IFTA ) is an agreement between the lower 48 states of the United States and the Canadian provinces, to simplify the reporting of fuel use by motor carriers that operate in more than one jurisdiction. Alaska, Hawaii, and the Canadian territories do not participate. An operating carrier with IFTA receives an IFTA license and two decals for each qualifying vehicle it operates. The carrier files a quarterly fuel tax report. This report is used to determine the net tax or refund due and to redistribute taxes from collecting states to states that it is due. This tax is required for motor vehicles used, designed, or maintained for transportation of persons or property and: Having two axles and a gross vehicle weight rating or registered gross vehicle weight in excess of 26,000 pounds, and/or Having three or more axles regardless of weight, and/or Is used in combination, when the weight of such combination exceeds 26,000 pounds gross vehicle or registered gross vehicle weight.[1] Exceptions exist for Recreational Vehicles (such as motor homes, pickup trucks with attached campers, and buses when used exclusively for personal pleasure by an individual )[2]. Some states have their own exemptions [3] that often apply to farm vehicles or government vehicles.
Edited by NJJ 2015-02-03 4:47 PM
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Expert
Posts: 1857
| NJJ - 2015-02-03 4:46 PM k.maddocks24 - 2015-02-03 4:38 PM foundation horse - 2015-02-03 2:56 PM FlyingJT - 2015-02-03 2:20 PM foundation horse - 2015-02-03 1:58 PM FlyingJT - 2015-02-03 11:25 AM foundation horse - 2015-02-01 1:52 PM Itsme - 2015-02-01 9:43 AM Welcome to the "mileage tax". Not happening. That is one thing the American Public will not accept. Isn't that what IFTA is for fleets? They are suppose to use it to maintain roads but.... International Fuel Tax Association Commercial fleets pay a tax based on average fuel mileage applied to the miles driven which determines the tax owed to each state. I think the current annual rate is 5%. Every time they buy fuel they log it and then they are taxed on how many miles the drove with that tank through each state. I'm not sure exactly how it works, but I think it's basically a "mileage tax", but only for large vehicles... for now at least. I wonder if they will try to make it apply to those of use pulling trailers. Anything over 2 axles. I mean that would suck to have to buy a permit to haul to rodeos or haul horses and cattle. Oklahoma has exempt farm tags from the tax. They are suppose to use that money to repair bridges, roads, etc.
The ICC and taxes are Constitutional for NATIONAL Use/Collection Only!!!!!!!!!!!!!
Again, when this type of News reaches The American Public, Government is screwed! The International Fuel Tax Agreement (or IFTA ) is an agreement between the lower 48 states of the United States and the Canadian provinces, to simplify the reporting of fuel use by motor carriers that operate in more than one jurisdiction. Alaska, Hawaii, and the Canadian territories do not participate. An operating carrier with IFTA receives an IFTA license and two decals for each qualifying vehicle it operates. The carrier files a quarterly fuel tax report. This report is used to determine the net tax or refund due and to redistribute taxes from collecting states to states that it is due. This tax is required for motor vehicles used, designed, or maintained for transportation of persons or property and: Having two axles and a gross vehicle weight rating or registered gross vehicle weight in excess of 26,000 pounds, and/or Having three or more axles regardless of weight, and/or Is used in combination, when the weight of such combination exceeds 26,000 pounds gross vehicle or registered gross vehicle weight.[1] Exceptions exist for Recreational Vehicles (such as motor homes, pickup trucks with attached campers, and buses when used exclusively for personal pleasure by an individual )[2]. Some states have their own exemptions [3] that often apply to farm vehicles or government vehicles.
I worked for a large oilfield, hot shot company, that traveled nation wide thats how I knew about it. When you have a lot of drivers it's an absolute nightmare to track, it also gets very expensive by the time you pay for your permits for every truck and trailer, then file you qrt returns. The mileage tax is already in effect, it's just a matter of time before they start re-classifying what types of vehicles it applies too.
Edited by FlyingJT 2015-02-03 4:55 PM
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 I Prefer to Live in Fantasy Land
Posts: 64864
Location: In the Hills of Texas | Regular gas has gone up from $1.72 to $1.89 since last week. | |
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 Expert
Posts: 4121
Location: SE Louisiana | FlyingJT - 2015-02-03 4:54 PM
NJJ - 2015-02-03 4:46 PM k.maddocks24 - 2015-02-03 4:38 PM foundation horse - 2015-02-03 2:56 PM FlyingJT - 2015-02-03 2:20 PM foundation horse - 2015-02-03 1:58 PM FlyingJT - 2015-02-03 11:25 AM foundation horse - 2015-02-01 1:52 PM Itsme - 2015-02-01 9:43 AM Welcome to the "mileage tax". Not happening. That is one thing the American Public will not accept. Â Isn't that what IFTA is for fleets? They are suppose to use it to maintain roads but.... Â International Fuel Tax Association Commercial fleets pay a tax based on average fuel mileage applied to the miles driven which determines the tax owed to each state. I think the current annual rate is 5%. Every time they buy fuel they log it and then they are taxed on how many miles the drove with that tank through each state. I'm not sure exactly how it works, but I think it's basically a "mileage tax", but only for large vehicles... for now at least. I wonder if they will try to make it apply to those of use pulling trailers. Anything over 2 axles. I mean that would suck to have to buy a permit to haul to rodeos or haul horses and cattle. Oklahoma has exempt farm tags from the tax. They are suppose to use that money to repair bridges, roads, etc.
The ICC and taxes are Constitutional for NATIONAL Use/Collection Only!!!!!!!!!!!!!
Again, when this type of News reaches The American Public, Government is screwed!  The International Fuel Tax Agreement (or IFTA ) is an agreement between the lower 48 states of the United States and the Canadian provinces, to simplify the reporting of fuel use by motor carriers that operate in more than one jurisdiction. Alaska, Hawaii, and the Canadian territories do not participate. An operating carrier with IFTA receives an IFTA license and two decals for each qualifying vehicle it operates. The carrier files a quarterly fuel tax report. This report is used to determine the net tax or refund due and to redistribute taxes from collecting states to states that it is due. This tax is required for motor vehicles used, designed, or maintained for transportation of persons or property and: Having two axles and a gross vehicle weight rating or registered gross vehicle weight in excess of 26,000 pounds, and/or Having three or more axles regardless of weight, and/or Is used in combination, when the weight of such combination exceeds 26,000 pounds gross vehicle or registered gross vehicle weight.[1] Exceptions exist for Recreational Vehicles (such as motor homes, pickup trucks with attached campers, and buses when used exclusively for personal pleasure by an individual )[2]. Some states have their own exemptions [3] that often apply to farm vehicles or government vehicles. I worked for a large oilfield, hot shot company, that traveled nation wide thats how I knew about it. When you have a lot of drivers it's an absolute nightmare to track, it also gets very expensive by the time you pay for your permits for every truck and trailer, then file you qrt returns. The mileage tax is already in effect, it's just a matter of time before they start re-classifying what types of vehicles it applies too.
I can understand this... A truck weighing 80,000 pounds does much more damage to a roadway than a truck weighing 5,000 pounds. | |
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 Ms. Poutability
Posts: 2362
Location: In my own world | They also pay a Heavy Use tax. But you only pay that to the state you are licensed in. It's $550 here in MO | |
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 Dog Resuce Agent
Posts: 3459
Location: southeast Texas | Nevertooold - 2015-02-03 4:54 PM Regular gas has gone up from $1.72 to $1.89 since last week. . I have no facts to back this up.
Coincidence or not. Three years ago when USW contracts were up (oil refinery industry) the company I work for recorded losses. In previous years and years after, record profits.
This year, several weeks before contracts, fuel prices dip sharply. The day after USW went on strike, in selected plants, fuel prices are rising again.
Just throwing this out there.....
Edited by roxieannie 2015-02-04 10:17 AM
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