Posted on 02/26/2008 4:30:47 PM PST by reaganator
Gasoline is $3.19 here in Ohio today. Is anyone fighting to lower the over reaching, restrictions on production. Is there any hope for the abilty to manufacture gasoline to dramatcally increase in the near future?
If the answer is nothing, what then?
Either they do or don’t.
Pick which side of your mouth you want to speak out of and stick with it. Helps with your ultimate credibility.
It will create economic and political incentive to either drill more and or explore alternatives.
That’s right. Had to buy a warehouse to have a place to put all the bags of cash because they were just piling up on the porch every day so the cat had to climb over them to get in and out.
Democrats control the Congress. They will be fighting hard to further restrict production of gasoline.
But the gas taxes pay for our wonderful roads and bridges....wink, wink ;o)
It is an artificially restricted supply.
My grandmother told me stories about those days. Her father a share cropper. Apparently, farm owners couldn’t pay their mortgages because nobody was buying the crops. Banks foreclosed and couldn’t sell the land because nobody had any money. My grandmother’s father worked out a deal with the bank that foreclosed on his boss’s land and he was allowed to stay on the land and keep things up while the bank tried to find a buyer. THey had no cash. If they wanted to eat something, they had to grow it or catch it. If they wanted to wear clothes, they had to make them out of rags and cloth sacks and whatever else they could find. But according to my grandmother, that wasn’t too much different from how they lived before the depression.
You may be in the business. If you are you would not be interested in producing more than you could sell. Just enough to keep the pipeline filled. Beyond that you are spending money you don’t need to.
alternatives are still a long way off and the world appetite is growing fast.
We’re burying all the dinosaurs as quickly as we can!
What more do you want, Cap’n???
That’s all true. Sometimes the banks would foreclose and auction off the farm and it would go for a dollar. Then the one that bought the farm for a dollar would sell it back to the farmer for a dollar. Happened in small communities.
There are no shortages. We are at about 95% capacity and sell everything. When we get to the shortage stage it will look a lot different, but it isn’t happening now. Maybe next month or next year. Soon, don’t worry, we will see it pretty soon.
In 2007 ExxonMobil made $40.6 Billion in Profit.
They paid $105.7 Billion in Taxes.
Income Taxes - $29.9B
Sales Based Taxes - $31.7B
All Other Taxes - $44.1B
Total Taxes - $105.7 Billion
http://www.exxonmobil.com/corporate/files/corporate/news_release_earnings4q07.pdf
I don't consider profits of 10¢ on the dollar excessive. Business exist to make money or they would not exist.
But I do consider taxes 260% higher than profit very excessive. What other industry pays taxes at that rate?
I think you need to study the petroleum market before you stuff your feet in your mouth even further.
That is funny. They are building, drilling and expanding as fast as they can. The demand for drillers, engineers, designers with petroleum experience has pushed wages through the roof. The number of active drill rigs worldwide is way up. The lead time to vessels, pumps and motors is way up due to the back log of orders.
The highest taxes seem to be on American products sold in America. Beer, Cigarettes, Gasoline, etc. Try taxing anything imported from Red China and the free traders will be screaming bloody murder.
We should be afraid!!! The politico nuts have made it illegal for us to be energy independent!
Let's see, I have the technical know-how to produce my own woodgas and to adjust my older pickup to burn it along with my mower and garden tractor. BUT it is illegal to burn it on the road! The process involved is to provide 3 vehicles equipped to burn the fuel and pay somewhere in the vicinity of $10 Million for lawyers, testing labs, political influence, etc. and then see if they might allow you to burn it as a fuel. Then you have to pay for lab tests regularly to be sure that you are meeting the exact formulation that was approved....
Biggest bunch of BS you could ever imagine.
As long as Exxon and the other oil companies are able to add 120% of sales to their oil reserves each year, they are going to be able to keep the public under their thumb and while claiming depletion, they are building years of reserves. Of course it will run out someday, but Lord help you if you try to circumvent the politicians strangle hold on you!
OK, I get really p...ed about this whole subject...
ease enviromental restrictions. Politicians STOP attacking the oil companies just to pander to the ignorance of the populace.
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