Posted on 02/27/2008 6:08:34 AM PST by Brilliant
With oil prices reaching new highs, House Democrats are taking aim at the oil industry ...in an effort to tap voter frustration over gasoline prices and oil-company profits.
...the House of Representatives is expected to approve a measure that would eliminate roughly $18 billion in tax incentives for oil and gas companies, and use the savings to fund tax credits and other incentives for renewable energy...
The measure comes as high energy prices put increased pressure on consumers. Oil yesterday finished at a new high of $100.88 a barrel in New York futures markets, putting it $2.88 below the inflation-adjusted high reached in April 1980. The average price of a regular gallon of gas this week was $3.13 a gallon, up about 75 cents from a year earlier...
Senate Democrats also held a hearing yesterday to put new pressure on the administration to take a tougher line against the industry in a dispute over royalties... Assistant Secretary of the Interior Stephen Allred told a Senate Appropriations subcommittee that as much as $31 billion is at stake in the dispute, which centers on leases issued to oil and gas companies for the right to drill in the Gulf of Mexico from 1996 to 2000.
Industry groups counter that the tax incentives help stimulate oil-field investment, add new supplies to the market and keep jobs in the U.S. "These tax increases seem particularly egregious at a time when we are trying to stimulate the U.S. economy..." said Mark Kibbe, a spokesman for the American Petroleum Institute...
The industry also argues it was adhering to U.S. royalty-rate policy in the late 1990s, when royalties were reduced to stimulate domestic drilling...
Congressional Democrats have also sought to slow down an administration plan to allow oil-and-gas drilling...
(Excerpt) Read more at online.wsj.com ...
We are not using anymore oil there is no oil shortage. Why hasn't oil prices tripled at the pump in other countries?
If you think the oil companies are not gouging and doing great harm to our country's economic stability then stick your brain-washed dead head back in the ground drop your drawers get you a large jar of petroleum jelly and wait.
The good times are just around the corner especially for people who put their faith in politicians,the media and rich multi-national corporations/ and the wealthy elite who would and are selling our country and the future of children and grandchildren for the new world run by corporations and for the wealthy.
This country is and has been under deliberate economic attack and is fixing to join the rest of the has beens like Great Britain and the former Soviet Union.
This is why a lot of us has quit writing here and just lurking is because the country is so far gone and the people so brainwashed they can't see what is right in front of their nose.
Here's something to think about if you can . What damn difference does it make if McCain, Hillary, or Oboma get elected or anybody from either party for that matter? They are all bought and paid for.
We just gave this Islamic/Saudi/Mexican/Texas oilman/Businessman/ the greatest opportunity that's been handed a President in my lifetime and what did we get.
We got 3000 dead Americans and the Santic cult that responsible for their death gets their own special title The Religion of Peace,their special day at the White House and our president is doing his best to give then there own terrorist state on land from Israel.
We get a war killing our troops that so screwed up and mismanaged that the reining Super Power after years and billions they can't even manage to control one city.
Now he wants to take land from our ally the only democracy and state that didn't celebrate the results of 9/11 in the middle east and create another terrorist state for the cult, the very ones that are responsible for killings of Israelis,Europeans, Americans and anybody else throughout the world that refuse to give their land or refuses to worship or be a slave to them and their government/religion.
Now for his grand finale our President wants to make us part of the world community so bad that he refuses to recognize or enforce our laws or recognize our Constitution process for making or changing them.
We gave him eight years and both houses of Congress and with the support of the American people he had, a cocker spaniel could have accomplished more than he did.
Either he is as incompetent as they come, dumber than dirt, a coward or he done just what he wanted to do all along which would make him a liar and a traitor. Pick one or as many as you need.
I'm afraid he was our last chance.
The only action that will save something of what was the United States of America ,you know the one that was supposed to be of the people, by the people and for the people, will be to repent then return and pray to a God who we have denied, rejected, kicked out of our government and public life.
He's the One we got our most important unalienable rights from, not some politician or worthless scrap of paper and is as we speak in the process of judging us for our disobedience and rejection.
It is going to take a lot of suffering before we wake up and decide to repent and put in positions of leadership. the men with the character of our founding fathers.
Goodby. I'm back to lurking.
We are not using anymore oil there is no oil shortage. Why hasn't oil prices tripled at the pump in other countries?
If you think the oil companies are not gouging and doing great harm to our country's economic stability then stick your brain-washed dead head back in the ground drop your drawers get you a large jar of petroleum jelly and wait.
The good times are just around the corner especially for people who put their faith in politicians,the media and rich multi-national corporations/ and the wealthy elite who would and are selling our country and the future of children and grandchildren for the new world run by corporations and for the wealthy.
This country is and has been under deliberate economic attack and is fixing to join the rest of the has beens like Great Britain and the former Soviet Union.
This is why a lot of us has quit writing here and just lurking is because the country is so far gone and the people so brainwashed they can't see what is right in front of their nose.
Here's something to think about if you can . What damn difference does it make if McCain, Hillary, or Oboma get elected or anybody from either party for that matter? They are all bought and paid for.
We just gave this Islamic/Saudi/Mexican/Texas oilman/Businessman/ the greatest opportunity that's been handed a President in my lifetime and what did we get.
We got 3000 dead Americans and the Santic cult that responsible for their death gets their own special title The Religion of Peace,their special day at the White House and our president is doing his best to give then there own terrorist state on land from Israel.
We get a war killing our troops that so screwed up and mismanaged that the reining Super Power after years and billions they can't even manage to control one city.
Now he wants to take land from our ally the only democracy and state that didn't celebrate the results of 9/11 in the middle east and create another terrorist state for the cult, the very ones that are responsible for killings of Israelis,Europeans, Americans and anybody else throughout the world that refuse to give their land or refuses to worship or be a slave to them and their government/religion.
Now for his grand finale our President wants to make us part of the world community so bad that he refuses to recognize or enforce our laws or recognize our Constitution process for making or changing them.
We gave him eight years and both houses of Congress and with the support of the American people he had, a cocker spaniel could have accomplished more than he did.
Either he is as incompetent as they come, dumber than dirt, a coward or he done just what he wanted to do all along which would make him a liar and a traitor. Pick one or as many as you need.
I'm afraid he was our last chance.
The only action that will save something of what was the United States of America ,you know the one that was supposed to be of the people, by the people and for the people, will be to repent then return and pray to a God who we have denied, rejected, kicked out of our government and public life.
He's the One we got our most important unalienable rights from, not some politician or worthless scrap of paper and is as we speak in the process of judging us for our disobedience and rejection.
It is going to take a lot of suffering before we wake up and decide to repent and put in positions of leadership. the men with the character of our founding fathers.
Goodby. I'm back to lurking.
It has.
Europe Brent Spot Price
http://tonto.eia.doe.gov/dnav/pet/hist/rbrteM.htm
(Brent = A blended crude stream produced in the North Sea region which serves as a reference or "marker" for pricing a number of other crude streams.)
Rotterdam Conventional Gasoline Regular Spot Price
http://tonto.eia.doe.gov/dnav/pet/hist/rruara5m.htm
Singapore Leaded Regular Gasoline Spot Price
http://tonto.eia.doe.gov/dnav/pet/hist/rp15sin5m.htm
What are mere facts in the face of a drunken rant?
“Why hasn’t oil prices tripled at the pump in other countries?”
You think we’re the only country that has high oil prices? We aren’t, although I do suspect that our gas prices have gone up faster, largely because of the Dems’ policies. We haven’t built a refinery since the 70’s. By contrast, they are building refineries overseas—like crazy. And by the way, the manufacturing jobs are migrating to where the refineries are.
When W had the numbers, the problem was back-burnered... better yet, ignored. Now it's still back there, but it's the Democrats (and me) who are turning up the heat on Pore ole George.
Tell ya sumpin' else ... the oilcos are doing OK on the set of rules they are given to play by. So they are big fat juicy targets. Zo sorry Doc, Georgie screwed the pooch on this big-time.
Of course the Democrats will make the "tax the oil companies" gesture. But that's going nowhere. It's just a little Georgie roast to get them safely through the election ... and then it's business as usual.
What really smarts is that our Fearless Leader has made it business as usual, too. The economy is in real danger of going to hell in a handbasket, in large part because of this, and while W has done a bit of maneuvering, he has failed to seize the issue and provide leadership for straightening it out. We needed something like the Manhattan Project, and we didn't even get a kindergarten bake sale from this guy.
When Mumbles leaves, he'll wave to us wearing Jimmy Carter's old sweater unless he starts swinging right now. A good man can get a lot done in 11 months.Would make a great project for Cheney.
Of course not!
Oil companies made HUGE, or HUGH if you prefer, profits!
They are awash with bucks. Just sitting on tons of money.
That is what businesses do, make tons of money and just sit on it.
The Rich do the same thing. Make tons of money and then just sit on it.
Ready cash. Moolah. Big Bucks. Mucho Dinero.
Money that only politicians, make that liberal politicians, can put to better use.
That is why Big Oil, Big Business and The Rich are so evil. They don't need the money cause all they do is sit on it, or buy jets, yachts, caviar and take tax breaks they don't deserve.
And if gasoline prices go up, it will be because they are just so evil and greedy because everybody knows that gas would be under a dollar if it weren't for their greed./s
Exxon makes about .10 per gallon profit. State and federal governments make about .50 per gallon. That’s all you need to know.
In a free market it is competition between producers that controls the price of a product and encourages research and development.
When everyone agrees to charge the same price regardless of their overhead then where are you going to go?
One thing you do not have for sure is a free market when you have price controls whether it is government or business that is controlling them.
Big business is the new world order.They are making the laws to suit their bottom line.
They control the politicians on the planet as well as the media and they could care less about truth borders,constitutions, independence,God or country.
They care only about a dollar and will do anything to get it even destroy their own country and sell their own souls.
In the end driven by uncontrolled greed they end with people just like themselves in power,people who think just like they do.
Then by the time they realize they have created a monster, who like them only cares for money and power, it is too late.
Hitlers don't happen by accident.If you check you'll find that some of his early supporters where wealthy Jews.
So go ahead and enjoy those dollars you think you are making on them oil stocks, while inflation and the cost of living driven by high oil prices from their price-gouging, are eating them up on the other end.
When you have pay five dollars for a loaf of bread and two Dallas for a can of beans seven dollars for a pound of coffee, then there are the utilities which are fixing to double and the stock market is getting shaky as hell because high oil prices have eaten up all the loose money in the country.
Things are going to pop soon and that little dab of money the President is trying to pump inti the economy is not going to stop it.
It all started on his watch and he let his friends get away with it and did nothing to stop it and its too late now.
So listen to the propaganda put out by the business world in their media,and trust their hired help [regardless of which party]while your freedoms, future and your country instead of setting the standard for prosperity and freedom for the world slips back into gross mediocrity.
Then after they tear down this last obstacle in the way of their global community with it's troublesome Constitutional government,with their planned economic crisis then you can set around and feel sorry for all these ultra rich companies that have fed off the working man from both ends, and hope after they restructure us, that someone in the world will look our way and not ignore us when we [the US] hold up our hand to go to the bathroom.
Why am I wasting my time?The people of this country have slammed the door in God's face and told Him we'll call you if we need You.
Its going to take something like what some of us has been saying is coming to hopefully turn us back to the only source of truth left on the planet, our God.
Good bye.
That, the very first sentence of your rant, is so incorrect that there is no need for anyone to read further.
We already use foreign sources due to the fact that Texas crude is very thick hence harder to refine and therefore less profits for the refiners. What about the Canadian shale oil?...ahhh to costly to develop/retrieve! What about ANWR ? sitting on one of the biggest crude reserve!...taboo the Democrats screamed
# Further reducing refining capacity in the US as there will be less profit to invest in new refineries
When was the last time you've heard /read of any type of refineries been build since the '70'es?!
The restrictions are so draconian that no oil company want to spent upward of 2 Bill's to build one, unless it is a sliver of potential profit margin in the deal!
My question to the Government is, why not reign in on the market speculators who are the real culprits for the oil prices getting jacked up at this rate, instead the OPEC.
OPEC already said it is out of their hands to control the out of control spiraling crude prices fed by the price gouging market speculators.
I am not a Government mouth piece but, when Exxon-Mobil decides that a single retiring CEO should be compensated for his services to an upward of 400 Million Dollars plus other trinkets for the rest of his life, I am having a really hard time why the taxpayer should subsidize this company.
It looks to me that E-M will do just fine without the taxpayer subsidies.
By all means, lets take the tax incentives FROM the ONLY industry producing viable, cheap, efficient fuel for automobiles on the road... and give them to non-existent companies in an industry that has produced zero results that is not producing non-existent fuels to run non-existent vehicles.
Do I got this right?”
How much different is this from taking taxes from hard WORKING americans for the last 45+ years and handing them over to people who refuse to work via welfare??
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