Tax the oil companies, that will work :(

[kenimpzoom]

http://news.yahoo.com/s/ap/20060427/ap_on_go_co/oil_taxes <br /><br />Yep, raise the corp tax on em, that will teach them.<br /><br />Oil companies cant raise prices (commodity market) so they will have to cut budgets to make up the difference.<br /><br />Oh wait, maybe just maybe, they will cut their exploration budget and find less oil.<br /><br />And oh yea, they tried this in the 80s and it failed.<br /><br />And where was the bailout program for the oil companies when the price of oil was 8 dollars a barrel in 1999. Hmmm... they didnt need one cause they trimmed their budget to reflect income???<br /><br />Just a bunch of political grandstanding that will not do ANYTHING to help. Except help get votes for the incumbents. <br /><br />Ken

 

[heycods]

Re: Tax the oil companies, that will work

Gotta agree, but I was oilfield trash for 20 some odd years, so I my opinion may be biased. I kept waiting for someone to holler windfall profits tax again (Arlin Specter). We saw how that worked, just pass it on to the consumer. It appeares to me the solution for the short haul is to take the tax off it.<br /> If the problem with high gas prices as being reported is lack of ethanol to blend with,Because of doing away with btfe (sp) creating a shortage of gasoline, Why is the price of diesel rising with the price of gas???

 

[rodbolt]

Re: Tax the oil companies, that will work

I agree<br /> if ya tax it they just charge more to recoup the profits or find a better way to hide it.<br /> its mostly driven by the futures market anyway.<br /> if ya look at the katrina flood photos most gulf coast gasoline was 1.30 to 1.40 a gal.<br /> went up a bit yet the demand has remained about level.<br />supply has remained mostly level.<br /> but the speculation on the futures has skyrocketed.<br /> but now that they have found we will pay it ya think it will go down ?

 

[kenimpzoom]

Re: Tax the oil companies, that will work

There is a slight shortage of oil cause of the hurricane damage. USA is about 300,000 barrel per day short because of the damage. Also Nigeria is down too because of all the violence.<br /><br />A lot of the increase crude oil prices come from perceived shortages from the Iran fiasco, not actual shortages.<br /><br />Also demand is up everywhere.<br /><br />Ken

 

[Haut Medoc]

Re: Tax the oil companies, that will work

No new taxes for Exxon, there still saving to pay off the punitive damages for the Valdez Massacre...<br />If they can just put it off for another 18 years, the award will be less than the cost of a happy meal at Mc Donald's (in 2024) .....JK

 

[bootle]

Re: Tax the oil companies, that will work

Increase taxation is the wrong way to go, perhaps an end to the govt' subsides is the most that can be done.<br />What most people fail to recognise is todays oil prices fluctuates because of political decisions coupled with precarious sources of supplies and with the increasing demand of the two Asian mega giants, as their economies develop at a rate that has never before been experienced.<br />We must also consider that our energy consumation is overly excessive when one accounts for the size of our population in comparison to that of China and India, this fact is not lost on the peoples and countries around the world.

 

[heycods]

Re: Tax the oil companies, that will work

The fact that we (USA) furnished the worlds oil for 60 years @ $3 per barrel is not lost on me.<br />Kinda the old let me seduce you but you dont seduce me attitude.

 

[Gone]

Re: Tax the oil companies, that will work

Is the proposed $100/taxpayer to be considered hush money to placate us??

 

[rodbolt]

Re: Tax the oil companies, that will work

ken<br /> let me try again, I have sat here and looked up various oil facts and figgures dating back to the 70's, what I find interesting is for the most part(average) not much more is ever pumped than is needed. its not that we are out of oil and yes there are occasional short term hitches, its not that production is flat or in an overall decline forcing demand to outstrip supply.<br /> its the speculating on what the future will do that is driving the price.<br /> the world wide demand for heating oil is infantismally small compared to gas yet it rose faster than gas and does each winter. not because it cost more but oil companies know they can get it.<br /> when a particularly cold winter is predicted the price jumps before the cold hits. has since the 60's that I know of.<br /> same as each summer here in the tourist trap the price of hotel/house rentals double as do most tourist commodities and gas has always spiked during the summer months. I have seen years when the price of oil fell during the summer and the price of gas rose. so if you let those that stand to make a profit manipulate supply it hurts everyone.<br /> as I worked in the oil field perforating and logging industry I witnessed it many many times, if the price fell west texas and OK oil pumps would be shut down and capped until the price went back up.<br />we used to laugh in the 80's that oil was plentiful at 70 dollars a barrel and scarce at 8 dollars a barrel.<br /> how right we were.