phrankin is right that it's nothing to celebrate though

If you and an American both consume the same amount of oil, and the cost of crude oil goes up by $x, then you both have the same hit to your standard of living. Whether or not you pay more tax on top of the crude price.

Irrelevant that the % increase in post-tax prices here may be smaller.

Posted By: Tricky Hawes, Jun 13, 13:32:08