Should US oil companies be taxed more?

  1. You have chosen to ignore posts from lindargd. Show lindargd's posts

    Should US oil companies be taxed more?

    What a crock. Big deal if they have to pay a tax on their profits. How does that help the people filling their tanks each week that are paying $60, $70, $80. We need relief! and we need it now!
     
  2. You have chosen to ignore posts from user_1244128. Show user_1244128's posts

    Should US oil companies be taxed more?

    I believe the OPEC nations have to import a lot of their food, right? Well, if they continue to charge $138 a barrel for oil when it costs them $2 to produce it we should start charging them the same for food and other items they have to import!
    Want bread? $500 a loaf. Milk/soda/water...$1000 a gallon. Maybe then they would get the message...and stop holding the rest of the world hostage!
     
  3. You have chosen to ignore posts from jkkite. Show jkkite's posts

    Should US oil companies be taxed more?

    tpyical democrat/liberal thinking here, and if Obama is elected, expect to see more of this lunacy. The govt should not determine what a 'landfall profit is...no one can. profits are profits, end of story. as prices rise, use lowers, demand lowers, prices will lower, it's basic economics, but i don't think a democrat in this country took any course outside of politics (i.e. they have no practical education nor real world experience...see Obama's resume).

    to be consistent, the govt should also not be giving oil companies tax breaks, that's ludicrous. the private sector made this country what it 'was' (good), and the consistently failing post-depression era govt policies make it what it 'is' (crap).  
     
  4. You have chosen to ignore posts from blaster5k. Show blaster5k's posts

    Should US oil companies be taxed more?

    Some of the comments here have been spot on, and others show an utter lack of understanding when it comes to economics.

    First off, you can't really tax a "company".  The costs are always passed on to the consumer.  If oil company profits are taxed further, gas prices will increase and/or stock payout will be lowered -- the former case being more likely.  The majority of Americans own some form of stock directly or indirectly (ie. retirement funds), so it's not just for the rich.

    That said, increasing taxes on oil is a shortsighted move that appeals to our emotion, but not to reason.

    The best thing Congress can do is nothing.  High prices will force us to reduce consumption and spur even more interest in alternative fuels.  Bear in mind, there are already over 800 startups in the area of rewable energy (recent Globe story).  Breakthroughs that will make these technologies viable on a large scale will not come overnight no matter how much investment there is, but moving forward there's a lot of hope.  Oil won't be around forever and it's going faster and faster with the increasing population of the world and further industrialization.  We don't really have a choice but to look elsewhere in the long haul.
     
  5. You have chosen to ignore posts from wametz. Show wametz's posts

    Should US oil companies be taxed more?

    Tax oil companies?  What problem would that solve and how?

    Reduce dependency on foreign oil and products of Arab nations. 

    17 of the 9/11 terrorists were Saudi born - they own us.  We are their be-atchs, enslaved by our "esteemed" lifestyles and thirsty SUV's.    

     
  6. You have chosen to ignore posts from wametz. Show wametz's posts

    Should US oil companies be taxed more?

    Tax oil companies?  What problem would that solve and how?

    Reduce dependency on foreign oil and products of Arab nations. 

    17 of the 9/11 terrorists were Saudi born - they own us.  We are their be-atchs, enslaved by our "esteemed" lifestyles and thirsty SUV's.    

     
  7. You have chosen to ignore posts from timmers10001. Show timmers10001's posts

    Should US oil companies be taxed more?

    [Quote]Give 1 Billion to the first person to make a mass-production car that uses little/no gas.  Give the company that makes this car tax-free status for 10 years.  Drill in Alaska and the Gulf.  Make the Arabs drink their oil in 10 years.[/Quote]

    I agree 100%.  Every oil company claims to be investing millions in alternative energy.  But if they are making record profits now, from a business stand point, it doesn't make sense to introduce alternative energy cars.  Why not wait until oil runs out or they stop turning profits, then introduce the alt. energy cars when people have no choice but to switch to one of those cars.  At which point demand is at its highest and they turn record profits again. 

    Gov't needs to reinstate the windfall tax and give funds from this to a government run research company that will research alt. energy and actually produce these vehicles.  The technology is there.
     
  8. You have chosen to ignore posts from samsample. Show samsample's posts

    Should US oil companies be taxed more?

    While we all love picking on the bad guy, these profits are coming form selling  the oil they drill for  at current commodity prices - they're  (in large part)  not coming from gasoline.   If it costs you the same money to pump it from the ground, and people are paying  twice the price for a barrel of oil - you get profits.  


    Another contribution to high gas prices is the lack of any new refineries.   People complain  about the price of gas, but no one wants a refinery in their back yard, so we have a  capacity problem, which also leads to higher prices.

    Besides, if we tax the profits, it goes into the treasury and W spends it on the war.   It's not like the price of gas will go down if we tax them more, now will it?
     
  9. You have chosen to ignore posts from bf5113. Show bf5113's posts

    Should US oil companies be taxed more?

    Gas prices are high and oil income is high because traders on the New York Mercantile Exchange (NYMEX) keep pushing oil prices higher and higher on (in many cases) rumors of a possible cut in supply. If Congress does anything, it needs to investigate the traders on Wall Street that are creating this surge at the pump.
     
  10. You have chosen to ignore posts from Marie1953. Show Marie1953's posts

    Should US oil companies be taxed more?

    The Congress has been nothing but an obstructionist body with respect to exploration and drilling and promoting alternative energy sources (i.e. the Cape Wind project) in the good old USA. 

    They constantly frustrate efforts in ANWR and the Bakken Oil Formation which stretches across Montana, North Dakota and into Southeastern Saskatchewan.  The amount of oil in place has been estimated between 271 billion and 503 billion barrels of oil.  Instead, they always do what comes most naturally to Democrats - raise taxes.  Another brilliant, far-sighted solution to a life altering problem.

    The best thing Congress could do would be to go on vacation - at least if they aren't there they can't hurt us. 

     
  11. You have chosen to ignore posts from Barby414. Show Barby414's posts

    Should US oil companies be taxed more?

    [Quote]I think they should institute a 50% windfalls profit tax on all oil over 70 dollars a barrel and 60% over $150 a barrel and 80% over $200 dollars a barrel. Lets face it the wells they are pumping for were projected to cost them $17-$19 a barrel to pump 3-3.5 times the return is more then suffecient everything over that is price gouging. I also want to see profits over 15% on commodity speculation taxed heavily as well. THe new tax should be then put toward Health Care education and R&D to help strengthen our economy, provide training and jobs for the future right now they are trying to starve us out with high food and gas prices.[/Quote]
     
  12. You have chosen to ignore posts from BobBos. Show BobBos's posts

    Should US oil companies be taxed more?

    I find it a little disconcerting that  congress would do this.  The oil companies are profitable today because  in the past, they acquired the resources (oil field rights, etc)  for a product that's very much in demand today.  But oil is a risky business; plenty of people have lost $$ investing in oil only to see the price collapse.  Is the Government willing to  give money to oil companies in the future if it turns out they're losing money?

    The rationale here seems to be "you have a high profit margin today, so we'll tax you extra."  That's socialism, pure  and simple; let's see where else we could apply the same logic.  Microsoft has an incredible profit margin, 80-90% of what you pay for Windows or Word is pure profit for Microsoft.  Google also has a huge profit margin.  So why aren't we making special taxes for Microsoft and Google as well as Exxon-Mobil?

    I'm not against corporateincome taxes or capital gains taxes per se. But I think it's foolish to single out the oil industry, no matter what the price of oil is today.  I think it was foolish to give the oil industry breaks in the 1990's, and I think it's foolish to tax them extra today.
     
     
  13. You have chosen to ignore posts from Barby414. Show Barby414's posts

    Should US oil companies be taxed more?

    Re: post #8991157

    Rather than blame/praise Dems or Repubs.....your recommendation is worth considerring....I am willing to wager big time that we then woudln't see barrels going over $150 per.  Wtih excess dollars going into Health Care and R&D....your suggesiion sounds like a Win/Win to me!!!!

     
  14. You have chosen to ignore posts from Butch927. Show Butch927's posts

    Should US oil companies be taxed more?

    Typical Democrats. The primary reason gas is so expensive is because of the tax and fees already placed on it. So, their solution is? More taxes! If this were a replacement on the heavy tax we already pay at the pump, that would be one thing. But, this is just a plan to grab more money for government without having any effect on the cost per gallon. Government gets richer while the people pay at the pump and struggle.... not a surprise coming from the Left.
     
  15. You have chosen to ignore posts from MansfieldDude. Show MansfieldDude's posts

    Should US oil companies be taxed more?

    If Congress had any brains they'd allow drilling in the promising Alaska regions, but since like 10 people go up there each year to view the unspoiled beauty, the other 300 million of us pay higher oil prices.

     
  16. You have chosen to ignore posts from Butch927. Show Butch927's posts

    Should US oil companies be taxed more?

    It is also time to start drilling in Alaska. I care as much about the wildlife as anyone, but the amount of land impacted is equal to a postage stamp on a football field. Minimal impact for an incredible benefit down the road. Open the drilling now.
     
  17. You have chosen to ignore posts from chadmack. Show chadmack's posts

    Should US oil companies be taxed more?

    Thanks Seymour!! What is up with that??  Let's here the justification on how the poor oil companies need that!!  How can people keep swallowing this?  Is it really coincidence that we have Bush/Cheney and gas approaching $5 a gallon?

    In short, YES.

    Just like it was a coincidence that Bill Clinton was in office during the widespread implementation of the internet, fiber optics and related technology that powered the economic progress of the 90's.  Funny how Hillary went COMPLETELY unchallenged every time she pointed out how much better her husband's 90's economy was compared to today's.  We need to be careful about granting too much praise or placing too much blame on whoever happens to be sitting in the oval office during particular economic ups and downs.  We are a world economy now, and much of the pain that we are feeling can be attributed to actions that were taken (or not, for that matter) decades ago. 

    I have a question:  Exxon-Mobil is an American company.  Citgo is a Venezuelan (state run/controlled) company.  A Citgo station will charge the same price as a Mobil station across the street.  How on this green (for now, anyway) earth will taxing the American company in this scenario help the cost of gasoline drop here in this country?  It seems like consumers are angry, and justifiably so, but going for revenge against the American oil companies probably won't cause gasoline to drop one bit.  If anything, I'd betcha $10, or 2.5 gallons roughly, that this action would cause the price at the pump to go up.  Then again, there are so many variables contributing to the price we pay at the pump, that it would be futile to argue whether or not a tax on the companies actually caused any change at all. 


     
  18. You have chosen to ignore posts from ME. Show ME's posts

    Should US oil companies be taxed more?

    Typical democratic response. Big business is evil. Read Jeff Jacoby's article on it - yes they make big profits and they pay big taxes already.

    Somebody please tell me why we aren't drilling in Alaska? Am I missing something here? I know it's a short-term answer, but a solution is a long-term thing, so why not do something that will help now? And if we need to build a refinery, then do it. Seriously, am I missing something here?
     
  19. You have chosen to ignore posts from pollie. Show pollie's posts

    Should US oil companies be taxed more?

    I really think this is hillarious! First, as we have seen, the Dems are spineless. How many commisions, and investigations and threats have they actually delivered on? None.

    Also, why does the American public currently have the lowest opinion of our Congress/Senate in hostory, and actually think they will bail us out or help us? I mean the only thing you know that they can agree on, and that lobbyists don't get their way on is when these bloodsuckers vote themselves a raise.

    Implementing a tax on the oil companies profits will just be handed off to the consumer. So, what do we do to make a change? I guess we need to put our money where our mouths are. We want cheaper fuel? Well, next time you buy a car, buy a hybrid. Next time you want to commute to work...take the T (I know, it does suck, but, do you expect congress to make the T work too?). We all need to start reading more, and spend less time watching brain rot reality shows, and see what is really happening in the world. We need to make the change to make this crap stop. All of us in these forums all the time arguing and bickering is exactly what these greedy slimebags in congress and boardrooms at Exxon and their ilk want! They want to divide and conquer. They have been doing a great job at it.

    We want to make a diffeerence in the price of oil, or even better some other alternative fuel? Well, do something about it rather than sitting in these forums complaining. I have purchased a Hybrid. Better mileage. But, it is still not enough. I would rather have something that does not run on fossil fuels at all. I mean come on. We were challeneged by the Soviets in the space race. We built a rocket, and sent a man to the moon. So no one can tell me that, if we WANTED TO, could not build a better, more efficient engine that would be more fuel effient, and be fueled by som ething that will not harm the environment or be controlled by religious fanatics and dirty old men in suits. But, in a free market, greedy society like ours, we, the consumer need to make these choices, and make a stand to show these fat pigs we mean business. Not threatening some foolish tax that will come back on us anyway. Lazy couch potatoes. We would rather make sure we have TIVO'd the latest World's Greatest Panda Attacks than actually get up and do something.

    Who really needs an SUV? How did life actually make do before them? Who in their right mind bought an SUV three year's ago? The ballpark monthly payment is say $400/month. Then, apparently not even watching the news, they decide that 2005 is the time to buy an SUV with war raging in the middle east......uuhh where oil comes from and thinking that oil prices will be stable. Now, you pay $100 everytime they fill up their SUV. How many times a week? Now, everyone seems so surprised by the price of oil. Well, you were not paying attention to anything other than your own pathetic, adolescent urge to drive something that is the in-thing. You bought right into it. Its called supply and demand. The greater the demand, the greater the price. So, everyone got caught up in the craze to drive the biggest, most obnoxious vehichle that can possibly fit on a road. These trucks also cause greater damage to the roads. Creating a higher need for more and more roadwork. See? Anyone see this? Or am I going to get these flag wrapped responses about it being someone's god-given right to drive what they want as an american? Yeah, well it is our god-given right to elect the president of our choice. Hows that working out for us the last 7 years?
     
  20. You have chosen to ignore posts from 50Otis. Show 50Otis's posts

    Should US oil companies be taxed more?

    All businesses are entitled to a fair rate of return on their investments and should have their profits taxed equally and at probably a lower rate than at present to be competitive wiith foreign based companies.

    But the exec's of the speculators and oild companies should be investigated for criminal charges including price gouging in a time of war.  We are at war in Afghanistan and Iraq in case you forgot.

    Time to invest government funds in research into altenatives to oil including not just gas but oil used to heat so many NE homes.

    I paid more for fuel oil a week ago than the heavily taxed gas used in my car ... something's rotten here.
     
  21. You have chosen to ignore posts from ME. Show ME's posts

    Should US oil companies be taxed more?

    If somebody is price guaging (and it's still an if), then they should pay the penalty. But to simply tax them more because they are making profits is silly.

    I am in favor of better fuels, driving hybrids, taking the t... - all those make sense. But the reality is that it is probably going to take decades for anything to get to a point where it makes a difference in our daily lives. In the meantime, why aren't we drilling in Alasaka?
     
  22. You have chosen to ignore posts from pollie. Show pollie's posts

    Should US oil companies be taxed more?

    Otis, Thanks! I totally agree! But, the big problem, is that oil companies are very vested in the same people we elect. Obama has received a lot of oil money donations. Take a look at this article. And, yes, it is from a so-called liberal rag.

    http://www.latimes.com/news/nationworld/nation/la-na-money24apr24,1,2328541.story

    The oil companies have made big in-roads into the govt. They are becoming the govt. Especially under this boy king we elected our of fear of the same people we are at war with and who supply our oil......who he is buddy buddy with.

    Otis, there is no easy answer. But, we, as the American public need to do more to make our voices not just some background noise that gets ignored by our fearless leaders in Washington, but a single voice screaming in their ears.
     
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  24. You have chosen to ignore posts from ennui. Show ennui's posts

    Should US oil companies be taxed more?

    So Congress should jump on the bandwagon and profit further from the taxpayers of this soon to be THIRD WORLD country.....I don't think so.  Congress is elected by the people and they should be doing everything in their power to stop the greed and help the consumers, not become profiteers who sleep with the enemy.  In my opinion and given the current circumstances, they should work to temporarily suspend oil as a commodity on which to trade that is serving to drive the price of gasoline and home heating oil through the roof. 

     
  25. You have chosen to ignore posts from ME. Show ME's posts

    Should US oil companies be taxed more?

    [Quote]

    So Congress should jump on the bandwagon and profit further from the taxpayers of this soon to be THIRD WORLD country.....I don't think so.  Congress is elected by the people and they should be doing everything in their power to stop the greed and help the consumers, not become profiteers who sleep with the enemy.  In my opinion and given the current circumstances, they should work to temporarily suspend oil as a commodity on which to trade that is serving to drive the price of gasoline and home heating oil through the roof. 

    [/Quote]

    Yeah, I don't get this. Speculating on almost everything drives the price up. I remember when they predicted major hurricans a few years ago and it jacked the price up, because they were afraid the oil refineries would get damaged. Of course, we had no major hurricanes that summer. THATS just nuts - no way that should happen.
     
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