Cue up Connie Francis.
Incredibly, some legislators are considering increasing the tax only on those vehicles that get high mileage -- everything "we" were told to do.
Oregon is the farthest along in trying to address the problem with a "vehicle miles traveled" tax. Legislation there would impose such a tax on cars of 2015 model year or later that get 55 mpg or better.
If that sounds like a high number, it may not for long. New fuel economy standards agreed to by the government and automakers last year say that by 2025, cars will average 54.5 mpg.
Vermont Transportation Secretary Brian Searles said calculating how much of a VMT tax is owed would be done through the global positioning system devices that are expected to be standard equipment in cars later this decade.And folks concerned about privacy issue and GPS tracking: another red herring. Add a tax at highest level for those who don't want to provide proof of actual mileage driven. Sort of like paying for a lost ticket at a parking garage that charges by the hour. Lost your ticket? Pay the 24-hourly rate.
Anyway, I have no dog in this fight, so at best, I'm a spectator. And probably not much of one at that.
Way off topic.
ReplyDeleteCAT scratch fever.
See Caterpillar press release.
Anon 1
Considering how often I rant on a) global warming; b) Honda Civic; c) Apple computer, etc. there's not much off-topic. Smile.
DeleteI assume you are referring to the $580 million Chinese write-off. Several years of "cover-up" prior to CAT buying this entity. Wow.
$580 million sounds like a lot of money, but there's over 600 million shares outstanding, so we are talking $1/share. CAT earns $10/share?
On the other hand, ATT announces a staggering $10 billion 4Q charge and it was still "green" today. I figured ATT was going to get hit quite hard. One wonders how much the analysts already knew? The CAT thing, though, seems to have been very unexpected.
I didn't give you Rio yesterday, but the press release is unique and the numbers impressive.
ReplyDeletehttp://www.riotinto.com/media/18435_media_releases_22524.asp
The aluminum business had several big write offs that they didn't mention, starting just after they bought it. The cost of the aluminum investment may be in the range of the cost of the Bakken - wells, pipes, etc. It is one of those big numbers that is too big to comprehend.
The remuneration discussion is the unique part.
The barge issue is a good one too.
The only Bakken connection is that it makes US investments sound pretty good.
anon 1
I saw Rio Tinto in the news but ignored it. This is quite incredible.
DeleteUnlike $580 million for CAT, $12 billion for Rio Tinto is NOT trivial. Wow, more than their cash and operating cash. CEO fired and no remuneration to speak of. And I assume he will have a bit of a challenge finding a new job. Again, I read it fast, so I may have missed some stuff, but yes, in comparison, the Bakken looks good.
I just posted a long link and press release regarding Samson Oil & Gas in the Bakken; the press release is a bit old, but it appears this is fairly huge. Certainly it's huge for SSN.
Maybe the Vermonteers can get Dean Kamen to equip the Segway with snow chains. Good for local travel. Nothing like driving a convertible in the winter. Of course the battery probably won't work well in the cold.
ReplyDelete.... I wouldn't be surprised to see that....
Delete