Posted on 04/24/2006 6:37:11 AM PDT by ritewingwarrior
They don't have a clue that if they tax the oil company's profits and at the pump, guess who will pay that tab? Of course we will as always. No problem solved by this stupidity. Amen.
Thank you Hitlary. Amen.
P.S. Liberals love the 20% tax on gas because it gives the govt more money to waste. Environmentalists, like Al Gore and John Kerry, love the high taxes (and high price of gas) because it helps the environment because of lower consumption.
>>>Exactly what 'restrictions' do you mean? And since when do 'restrictions' of any sort produce more oil, and cheaper gas. Please cite when 'restrictions' have proved to be an incentive.>>>
I am not talking about restriction being an incentive, I'm talking about there does NEED to be restrictions in place environmentally. I know I know, in the Freeper dream world, a million autos produce no harmful affects, but as parent of a child whose asthma WENT AWAY after moving from the city of Atlanta from not breathing in fumes... I can tell you there does need to be restrictions. But there also needs to be incentives for ALTERNATIVE FUEL. But the big oil companies are NOT going to let that happen and they will keep the politicians in their back pocket.
How would this help?
The OC's would pay, raise prices citing "concern" over iraq, iran, SA, or hurricanes.
We end up paying more.
So let me get this straight ... tax oil companies ... oil companies in return raise prices to compensate for the tax and the American public once again gets it in the behind with no lube.
I was in the oil business when they passed the last windfall profits tax of 40%. The rig count was 2700 and within two years was down to 11. More than 50% of oil producers either went out of business or left the country for better prospects.
Its simple, If one invests one million to make a 10% profit of 100 thousand and that is declared a windfall, subject to another heavy tax one will simply invest elsewhere with less risk.
Exxon is the most accused but is a world wide business with most business and profits other than in the US. They could well do without US profits and expense.
I have read many posts and much news on gas costs lately, however none have addressed the real cause, though there are many smaller problems and one would think it a secret. It is not. Gasoline is most refined from light crude. Light crude peaked in early 2004 and is in decline. The competition and bidding for light crude is fierce and will continue as supplies lessen. There is still plenty of heavy oil but most refineries were not built to handle heavy oil and will have to be redesigned. SA, Mexico and Venezuela are mostly heavy oil and all are building their own refineries in a effort to produce more gasoline. In addition heavy oil does not yield as much gasoline as light oil.
Corporations DON'T pay taxes. You do!!!!!
When did all of these oil mergers take place....
During the CLINTON presidency.
If they didn't complain then, they have no right to complain now.
Hey, a windfall profits tax on oil is GREAT idea. Look at some of the benefits we can expect:
1) Less drilling for oil and gas. Of course, the 21st century reincarnation of WPT should not distinguish between "old oil" and "new oil". This is an inherently dirty and dangerious business that we don't need in an information economy. A knock-on benefit is that oil industry will finally shut up about ANWR and offshore drilling restrictions.
2) Less investment in refineries and pipelines. Again, this is a dirty and dangerous business that we don't need in an information economy.
3) A new tax that targets greedy oil companies and evil independent oil drillers. A knock-on benefit is that also will hurt Halliburton, which is primarily an oil-and-gas services company. We don't need this in an information economy.
4) Higher fuel prices and supply disruptions will reduce driving in the short run. Physical transportion certainly isn't necessary in an information economy. Longer term, higher fuel prices could even eradicate the evil SUV which has plagued our roads and highways for almost two decades. A knock-on benefit of this is that it would finally bankrupt GM, another evil big corporation.
By coupling WPT with impossible regulations, we can finally strangle the big oil companies. Then, this industry can finally be socialized, the federal government can repeal the laws of thermodynamics as well as the laws of supply and demand, and we will all live in utopia.
Senator Durbin Threatens Oil Companies
Senator Dick Durbin (D-Ill.) is demanding congressional action to punish oil companies. "Oil companies are making buckets of money, but are not sharing much of it with us," Durbin said. "Look over the lists of donors to my campaign fund. Oil companies are underrepresented. This is not how the 'game' is played."
Durbin says he will introduce a Windfall Profits Tax bill that would impose an excise tax on oil and gas companies equal to 50 percent of their profits over a baseline price of $40 per barrel of oil unless the oil companies can persuade him not to. "I'm not an unreasonable man," said Durbin. "A show of good faith on the part of oil company executives would go a long way toward getting me to change my mind. I think a lot of my colleagues feel the same way."
read more at...
http://www.azconservative.org/Semmens1.htm
Well, OPEC does collude. That's why it was formed, and its members make no bones about it. Members get together in Vienna and agree how much oil each will supply to the market.
It is absurd to assert that OPEC members can be subject to US antitrust laws. Its members are sovereign nations, not companies doing business in the US. Unlike the US, the oil in OPEC member states is owned by the government, not private oil companies.
Maybe, but I was specifically referring to American oil/gas companies.
You are the man with the plan. If only people would listen to you.
I'd love to hear your strategy to finally eradicate Big Drugs and Big Healthcare.
Arlen Specter would much rather have oil companies groveling to congress looking for mercy handouts.
How about cutting the 40 cents tax on every gallon of gas?
Perhaps democrats are afraid people may realize THEY CAN BUY STOCK in these companies.
What happens when people realize their pensions may be tied up in oil profits?
This is GENIUS!!!! We should all call as many Congress critters tomorrow as we can and suggest this.
I called Spectors office and Levin's office today and told them that :
Looking into the profits of oil companies is some more of their business....like steriods in baseball players and
1. they need to look at the gov. "profits" compared to the ones who find it, drill it, refine it, truck it and market the product. the Government shouldn't be 3 times as much as the producer
2. They should present a bill to stop regulations on the refinery's.
3. They should present a bill to have only 5 blends and the States can choose
4. They should present a bill to take off restrictions of drilling and drill ANWR, TX, OK, FL, and Ca. now!
5. Higer taxes won't make gas cheaper
6. why not cut the fed taxes to make gas cheaper right now!
I don't think either of their comment takers were impressed.
"I don't think either of their comment takers were impressed."
How about thw WV dem "ethics committee" head that was bankrupt 3-4 years ago and is suddenly worth hundreds of millions. Of course it was a smart business decision by his wife?!.
Of course, it is always the 'wife'.
"Specter: Windfall tax for oil companies 'worth considering'"
Bill Toomey worth considering.
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