Big Oil Windfall Tax

[Mr. White]

Started on another forum. Want to get a feel for what you all think.

The Democratic energy package would have imposed a 25 percent tax on any "unreasonable" profits of the five largest U.S. oil companies, which together made $36 billion during the first three months of the year. It also would have given the government more power to address oil market speculation, opened the way for antitrust actions against countries belonging to the OPEC oil cartel, and made energy price gouging a federal crime.

http://biz.yahoo.com/ap/080611/congress_oil_profits.html

[Mr. White]

Here is my response.

When I firs saw this, I thought "Just what we need". More government controls. Just think if they did that with Beer? Ever wonder what AB makes for profit on a glass of beer and why no one is screaming?

It is the dems screaming for price controls out of one side of their mouth, and through the other they stop drilling due to the fact that it invades the habitat of the speckled fruit mole or some other creature I have never heard of.

Want lower prices? Start drilling here....NOW! IMO, of course.

[Birdman]

The Dems hate big corporations especially oil companys. They also hate that we use oil based products to power our vehicles. That's the main resaon they don't want us drilling for our own oil . They are actually happy that oil prices have gone up the way they have so that now we will be forced to go to an alternative energy source other than oil.
They make the excues that it takes 10 years to find and get new oil to the consumer. They have made all kinds of excuses for the past 50-60 years as to why we shouldn't build more refinerys and drill for oil in new areas.
The problem is now that both OPEC and oil speculators are driving the cost of oil up at such a rapid pace the American are people finally expressing outrage for the gov's resistance all these years to making America energy independent by building more refinerys and drilling for our own oil.
Congress's approval rating is only about 18% . To me it is 0% they are absolutly useless and we would do better if we just went to the phone book and randomly picked out names of the average citizen.

It seems dreaming up a new tax or raising an old one is is all they know to do . It never solves a problem and usually makes things worse by discourgeing developement which in turn will increase cost.
To me it's simple allow the oil co's to drill for more oil , build more refinerys and do something to stop oil speculators from driving up the price of oil and at the same time proceed with developement of new technology for alternative energy.
We have enough oil on our own soil to provide oil for our own country .Allow us to get access to it so we can have the time to persue better sources of energy .

[Mr. White]

I am guilty of silence, but no longer. I can not sit and watch these idiots ruin our Country any longer.

Stupid people piss me off! ....rant......

[Johnny Dangerously]

Considering that they only make .8-10 cents per gallon & sell several billion gallons a year, it adds up quickly. Plus, that's their profit after they explore, drill, refine & deliver. Uncle Sam gets 18 cents & the state governments at least that & they don't do anything. Also, there are 40 something different blends of gas for the different states (IL & CA being the most expensive blend) that get made at different time during the year.

Government can't run itself, how well could they run an oil company, health care or anything else?

[Mr. White]

Good points. What our friends in Washington need is a wake up call. Hopefully it is not too late.

[Johnny Dangerously]

In North Dakota, I think they told the Feds to stick it, & voted to start drilling & building refineries.

[Dad's72Mach]

Good points guys. I also don't remember anyone crying in the late 80's when oil companies were going under left and right. The government stepped in and helped Harley Davidson, and recently bailed out the mortgage industry, both of which caused their own problems. No one made a peep when the American oil market collapsed. Now when they are making profits all of a sudden everyone is concerned. It's ridiculous, if anything PERCENTAGE of profit has gone down in the past couple decades, the world is just consuming outrageous amounts of oil. I sure hope the government doesn't decide to step in and tell me how much profit my business can make, and don't think clients haven't suggested as much. I think this is a truly dangerous precedent to set if allowed.

[Mr. White]

I find it amusing how many people look for government or others to bail them out. For me, when I was laid off in February, a bail out was not what we sought. We looked for new opportunities. It just so happened the opportunities would take my career in a whole new direction as a member of the "Family"!

Perhaps I come from the school of hard knocks, spending too many years in manufacturing plant operations.

Thanks for the feedback.

[Johnny Dangerously]

Keep this in mind also, gas is one of the cheapest fluids we consume these days & used to be the cheapest next to tap water. How much is a gallon of beer, pop, coffee, Monster, or bottled water?

[Mr. White]

I am with you on that!

Coke is $1.50 for 20oz. here. 128 oz in a gallon= $9.60

[black vert ss]

Originally Posted by Dad's72Mach

Good points guys. I also don't remember anyone crying in the late 80's when oil companies were going under left and right. The government stepped in and helped Harley Davidson, and recently bailed out the mortgage industry, both of which caused their own problems. No one made a peep when the American oil market collapsed. Now when they are making profits all of a sudden everyone is concerned. It's ridiculous, if anything PERCENTAGE of profit has gone down in the past couple decades, the world is just consuming outrageous amounts of oil. I sure hope the government doesn't decide to step in and tell me how much profit my business can make, and don't think clients haven't suggested as much. I think this is a truly dangerous precedent to set if allowed.

I agree I for one do not want anyone telling me how much profit my company can make. I vote Libertarian. Maybe they won't win the election but what they stand for.... repealing the income tax and doing away with big gov. is what appeals to me. I am most fearful for the state of the country my kids will inherit when money really rules the politicians. Like deep throat said in all the presidents men " follow the money" How true.

[Johnny Dangerously]

Originally Posted by black vert ss

I agree I for one do not want anyone telling me how much profit my company can make. I vote Libertarian. Maybe they won't win the election but what they stand for.... repealing the income tax and doing away with big gov. is what appeals to me. I am most fearful for the state of the country my kids will inherit when money really rules the politicians. Like deep throat said in all the presidents men " follow the money" How true.

+1000.

I took this test a few weeks ago & it turns out that my views align with the Libertarians. A guy I work with says he's a Democrat. He took the test & tested positive for Libertarian.

http://www.theadvocates.org/quiz.html

[Dad's72Mach]

Originally Posted by Johnny Dangerously

A guy I work with says he's a Democrat. He took the test & tested positive for Libertarian.

I think that is one of the major problems in this country. So many people are busy voting AGAINST one party or the other they really don't take time to consider who they are voting FOR.

[Boston Mike]

I bet none of this would have happened if my boss was voted in back in either '92 or '96.

[Mr. White]

Originally Posted by Boston Mike

I bet none of this would have happened if my boss was voted in back in either '92 or '96.

I have not seen him in years! Too Funny! He sure knew how to stir the pot!

[Boston Mike]

Originally Posted by MadMax

I have not seen him in years! Too Funny! He sure knew how to stir the pot!

See him everyday. And yes, he did. I'll find a way to add the pictures me and my Mrs took with him at the last couple of Xmas parties.

[Dad's72Mach]

Originally Posted by Boston Mike

See him everyday. And yes, he did. I'll find a way to add the pictures me and my Mrs took with him at the last couple of Xmas parties.

My memories of your boss are not so favorable. Nothing serious or anything to do with his business or presidential run. I was a high school football player in Texas in the early 80's and the legislation adding academic restrictions and extracurricular activity limitations he helped craft and push through was VERY unpopular. I understand he's a pretty nice guy in person though.

[Mr. White]

Originally Posted by Dad's72Mach

My memories of your boss are not so favorable. Nothing serious or anything to do with his business or presidential run. I was a high school football player in Texas in the early 80's and the legislation adding academic restrictions and extracurricular activity limitations he helped craft and push through was VERY unpopular. I understand he's a pretty nice guy in person though.

'''and what might those activites be, SATAN?

[Dad's72Mach]

Originally Posted by MadMax

'''and what might those activites be, SATAN?

LOL! They passed a law(called the Perot act by many) limiting the amount of time you could miss for sports or other non-academic activities, also put strict limits on, of all things, how long a pep rally could be. Although in fairness our pep rallies up to then pretty much took up the whole day on Friday.