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FBN’s Liz MacDonald on oil companies keeping inventories low and increased state taxes affecting gas prices.
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Gas prices have climbed for the last 34 straight -- Because of this -- evidence yet that liquidations -- -- and I think it.
This regarding -- and now even US government admits that -- -- local taxes are to blame for driving gas prices higher.
Father -- -- than Liz MacDonald is -- blaming now.
Well what's really interesting this is so ironic the US Energy Information Administration sent me a note.
And they said heavy notice what's going on and -- Texas and Louisiana and the gulf port region.
Bid amount of oil on inventory is down to -- twelve and half million.
That barrel -- that's 50%.
More than average going back to 1981 -- the governments are tracking the so why they drop.
This amount of oil on on hold their -- and the gulf region.
Look at this statement from the Energy Information Administration essentially saying it's an incentive -- incentive estate taxes.
Basically they're saying that the as -- US oil inventories typically decline in December.
As oil companies try to cut their tax they have to pay and their oil holdings so that's really interests thinking at the IMF.
Right that there's an and -- to keep.
-- lowered to -- the estate tax bills to Louisiana and Texas slower now -- since you say the markets are taking this into account that it's baked into the oil price.
But you know we talked oil traders -- -- -- saying hey wait a second supply demand.
Oil is gone is gyrating and supplied to manager drop in supply down there purposely -- to tax bill it's really interesting ideas into -- we're tracking -- -- You know California Hawaii Alaska they've got really high estate taxes and that's -- in his seat guest.
Bills really high for drivers out there fifty cents to sixty cents -- gonna see also in the upper midwest -- New York.
And New Jersey that's a map we're trying to show you earlier so you know that's a real -- dozen cities in the US.
Bad -- in California have got gas that's above four bucks a gallon.
And look at you have to be -- can get you -- yeah on -- -- it can't afford it -- California yet time and also we're talking New Hampshire Wyoming Washington thinking about it -- state taxes and gifts to pray that this is it growing trend that you know may be happening down the road.
Nothing -- this -- of a driver than the price of -- the outbreak of SARS place to -- think.
Mosh to get every day can't -- drink yeah not necessarily have to integrate it thank you know if the -- appreciate it from laughter that's.
