Oil company profits tax

So it appears that once again the Democrats have come up with a "feel good" scheme of raising our taxes while claiming it's to save the planet, and all the while not doing a damn bit of good to solve the actual problem.

When I think of all that natural gas off the east coast that they won't let us drill for it makes me sick. How much of that gas will simply leak out of those deposits while we let it sit there? Don't they realize that methane is 7 times more destructive a greenhouse gas then the CO2 emiited when it is burned?
 
Not just dems on the drilling. John Ellis bush worked out a deal with his brother to block offshore drilliing in FL.
 
Like I said, we ignore these resources to keep prices high for oil companies and to have a "practical necessity" justification for war which is also very profitable.
 
I want to thank you all too for buying $100 oil and $3 gas.
$4 and $5 gallon is coming soon, I'll thank you fat ass complainers in advance for continuing to buy.
 
Little-Acorn said:
Oil company profits are about 8% of sales, which is pretty much in line with most industries. Why are you singling them out?

BTW, the Fed govt imposes a $.36/gal tax on every gallon of gasoline. That amounts to around 14% of sales... and the Fed didn't have to do anything to produce the gasoline! If you're trying to find out whose "profit level" is doing the most to raise gasoline prices, it appears you've been looking in the wrong place.

I'll believe this "it's fair to take the oil company's profits" scheme when some congresscritter introduces a bill to take 20% of their profits when they make profits... and to send the oil companies 20% in cash when they incur losses. THAT will be a "fair" scheme.
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Acorn, the federal government gets 18 cents a gallon in taxes....

The State Governments are the ones that tax gas for the other 18 cents more or less depending on what state you live in....

so 18 cents is the federal tax....NOT 36 cents...

care/jd :)
 
Southern Man said:
So it appears that once again the Democrats have come up with a "feel good" scheme of raising our taxes while claiming it's to save the planet, and all the while not doing a damn bit of good to solve the actual problem.

When I think of all that natural gas off the east coast that they won't let us drill for it makes me sick. How much of that gas will simply leak out of those deposits while we let it sit there? Don't they realize that methane is 7 times more destructive a greenhouse gas then the CO2 emiited when it is burned?
Click to expand...

ZOMG IT COULD FEEL GOOD?!

I GUESS I AHVE TO VOTE PUBLICAN THIN!
 
Anyway... even if methane were more destructive, there just isn't nearly as much "leaking out". And those natural gas reserves have been leaking for millions of years, I"m sure 10 or 20 isn't going to break them.
 
Care4all said:
Acorn, the federal government gets 18 cents a gallon in taxes....

The State Governments are the ones that tax gas for the other 18 cents more or less depending on what state you live in....

so 18 cents is the federal tax....NOT 36 cents...

care/jd :)
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And anyway... the federal government does not "profit" from gas sales at all. It all goes to building roads. In a business sense, it would all be considered revenue. The oil companies make about 2.90 of revenue per a gallon, and the government makes about 30 cents in revenue. The oil companies make about 10 cents of profit, the government makes nothing.
 
Topspin said:
I want to thank you all too for buying $100 oil and $3 gas.
$4 and $5 gallon is coming soon, I'll thank you fat ass complainers in advance for continuing to buy.
Click to expand...

I'm hoping for 5 to 6 dollars a gallon. I work about 6 miles from where I live. I don't give a shit if gas goes to 10 bucks a gallon. But i figure by the time it gets to 5, that will be enough to really squeeze the white trash, trailor park type, republican voters, of whom there are many...squeeze them till they squeak like you Topper.

Then we'll get to hear them squeaking about how their kids need shoes, and they have to choose between fuel and food. That's going to be the good part. I can't wait to get to that part. It's like reading a boring, transparent book about idiots, but you know they're about to get squeezed real good, and so you keep reading because you want to get to that part. Republicans squeak when you squeeze them. Everybody knows that.
 
All the right wingers talking about a profits tax and an tax increase. Isn't it just doing away with oil company specific tax breaks the oil companies get now ?
They do not seem to need the tax breaks any longer.

And make them pay the royalties they should have been paying all along.
 
Any company making average or slightly above average profit margins does not need a tax break.

For that matter, tax the ever lovin' hell out gasoline. Get the price up to the point alternative fuels are price competitive. Get us off the oil tit and onto renewable and non-consumptive energy sources. The sooner we do that, the better of we all will be, even if it does mean a strain for us in the short run.
 
"strain" is a bit of an understatement. You mean, total collapse our economy. Until we can immediately transition from one the the next, it is suicide to suggest such measures.
 
Threedee said:
"strain" is a bit of an understatement. You mean, total collapse our economy. Until we can immediately transition from one the the next, it is suicide to suggest such measures.
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Naw. While strain may be a bit of understatement, total collapse is way over the top. We really are not that far from the point where energy alternatives can become competitive with fossil fuels. And if things keep going they way they have been the last decade, we'll reach the equitable point sooner than you think, even without a push from Uncle Sam.

Nor are we that far away in technologies able to handle the demands of alternative energy sources. Ever heard of switchgrass? It's a far better source of ethanol than corn, yielding 3 times the ethanol per acre, and can be grown in a far wider range of climes and soil types than corn. It'll even grow in areas currently considered non-aerable for food crops. Then there is miscanthus, which has an even higher yield per acre than switchgrass, but is limited to warmer climates.

Then there is research on ceramic IC engines, which will be able to withstand the higher heat of ethanol and/or methanol based fuels. Ethanol would give a lower mpg, but with better engines designed specifically for ethanol (as opposed to converting a gas engine) and increasing ethanol production by getting away from corn, it would not be all that difficult to get the cost per mile down to a reasonable level - say the equivalent of $5.00/gal in gasoline. Which is bad enough, I know. But then we managed to ride out gas prices going from 29 cents to 60 cents in a five year period.

Electrical storage is making some significant progress also. Laptop batteries are lasting 2-3 times what they used to for the same computers. I just replaced the battery on my 7 year old laptop and it lasts over 3 times what the original battery did when it was new. All that is needed is to apply that increased ability to electric cars. Electric motors are getting more efficient, too, with higher torque output for the same wattage. That would give electric cars both better acceleration and speed, as well as endurance.
 
Darla said:
I'm hoping for 5 to 6 dollars a gallon. I work about 6 miles from where I live. I don't give a shit if gas goes to 10 bucks a gallon. But i figure by the time it gets to 5, that will be enough to really squeeze the white trash, trailor park type, republican voters, of whom there are many...squeeze them till they squeak like you Topper.

Then we'll get to hear them squeaking about how their kids need shoes, and they have to choose between fuel and food. That's going to be the good part. I can't wait to get to that part. It's like reading a boring, transparent book about idiots, but you know they're about to get squeezed real good, and so you keep reading because you want to get to that part. Republicans squeak when you squeeze them. Everybody knows that.
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We'll just have to starve a few in the Delta and Appalachia before we get to the lower-middle class "trailor trash" stereotype group. Ends > means.
 
Those in Appalachia can revert to self sufficiency a lot easier than those in the cities.
It will be painful but there will be food.
 
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