More hypocrisy from the Democrats! Oil companies have a profit margin of about 2
cents/gallon of refined gasoline while the government (feds and state) taxes a
gallon of gasoline anywhere from $.30 to $.60/gallon depending on the state.
Taxing "big oil" will do almost nothing to ease the deficit but
cutting govenment spending absolutely will! America doesn't have a taxing
problem, we have a out of control government spending problem! The proof is our
$14 trillion (and rising) national debt! Washington has to find a scapegoat for
our deficit and "big oil" is their target to keep the heat off the
real problem- big government!
The Democrats are going to "divert the savings to offset the deficit"?
Don't they first need to reduce the deficit spending? You just can't reduce
the national debt by talking about it.When the oil companies lose
their tax breaks who are they going to look at to offset that loss? That's
right .... they will increase the cost of gas at the pumps.
If oil companies had complete control of gas prices, the price would NEVER go
down, would it? It's not unfair for very profitable companies in any industry to
have to pay their own expenses AND pay taxes on what they make in profits,
instead of the current system, which allows them to pay...zero.
One left leaning company, GE made $5 Billion last year and paid no taxes. Why
don't the Democrats complain about that?We don't have a shortage of
energy in this country, we have a shortage of brains. Our society depends upon
energy to produce and distribute food. Without it people will die.What man living on fertile land with hungry children would insist that vast
fields go uncultivated and demand that they buy food at extreme prices from
people that wanted to kill them?America has more oil than the middle
east but the Democrats will not allow us to tap into it. Instead they insist
that we pay $4 a gallon to people who may want us dead.How about a
transition plan?1. Require that all cars sold in the USA be dual fuel
ready (gasoline and CNG) so all we have to do to convert is bolt on a CHG fuel
system.2. Offer incentives to gas stations to add CNG.People
would then be able to transition away from oil.They are essentially
cutting off food and offering nothing to replace it.
Subsides to the oil companies is nothing but corporate socialism. Cutting the
subsidies means that is money not being spent and thus reduces the Federal
deficit. Oil companies after taxes make around 8% or more profit. Gas stations
make two to five cents profit per gallon. Profit will vary by company with some
making more. It's funny that though we talk of oil companies profits, both
state and Federal taxes are right around the profit margin of the oil companies.
In the end, capitalism should win out, the subsidies should end and if the
price goes up, the opportunity exists for an innovator to find an alternative
source of fuel to power our cars and other sources and make a killing. I say let
capitalism drive the market and innovation. Perhaps then we can become less
dependent on foreign sources of oil, not have to spend so much assisting these
governments and thus lower our deficit yet again. To continue to supplement the
oil companies is a form of socialism and must be stopped. If it raises cost
perhaps consumers will want cheaper alternatives, and new or existing companies
will make a huge profit by meeting the demand.
Re: Mark B | 10:32 p.m. May 8, 2011 There are four basic laws of
'Supply and Demand'. Those laws dictate that oil companies cannot gain complete
control of gas prices ..... unless government meddles with those laws.If we want lower gas prices it could be accomplished by developing the vast
oil reserves that are available here at home. Currently we are dependent upon
Oil companies are heroes in my book! If you don't believe it, try producing your
own gasoline! Drill your own oil wells, build your own refinery and produce your
own gasoline and hundreds of other products the world relys on. And do all that
with government regulations handcuffing you and making it every more impossible
to do so! Produce a gallon of gasoline under $5.00, if you can!
My knee jerk reaction says end subsidies for most products. However, what are
the tax breaks for "Big Oil" for? Is it Exploration and R&D? If
so, please don't end them. If not, I say remove them.
End the tax breaks for mega-corporations. They do nothing to help
Pagan: If you hate corporations so much, why not teach them a lesson! Don't buy
anything a corporation produces! That means you can't drive or even ride in a
car, use any medication, buy any clothes, buy any food or use any electricity or
energy, unless you manufactor it yourself out of raw materials you obtain on
your own! You have to live in a cave without any modern appliances and any of
the above mentioned, all made by "evil" corporations!
@The Rock: How in the heck did people survive before oil came around?
'You have to live in a cave without any modern appliances and any of the above
mentioned, all made by "evil" corporations!' - Mountanman | 2:04 p.m.
Wow. Making up an entire scenerio instead of presenting facts. That's a cry for help. The article was about Big Oil. Medication, clothing, all of these you injected into the story. So, let's take a LOOK at how 'bad' Big Oil has been hit recently: *'91,000 Gulf oil spill claims, just 1 final payment' - By Brian
Skoloff - AP - 01/31/11 'OCEAN SPRINGS, Miss. BP's compensation fund for
Gulf oil spill victims has issued a final settlement payment to just one of the
thousands of people and businesses waiting for checks....' *'Shell
makes $8.78 billion profit in Q1' - By Toby Sterling - AP - Published by DSNews
- 04/28/11 $8.7 billion. And we need to give Big Oil Tax
Breaks? What, if any, logic supports that? Reganomics?