It's funny you use profit % in your example of how truckers are being hit but you use profit $ to illustrate how oil companies are putting it to us. What if oil companies were making 150 billion in profits but that only equated to 1% net profit? What should they make 1/2%, break even? Maybe oil companies should be non profit.

 

Yeah I think it's real funny when I know owner operators who are selling their trucks and going to work for companies because they can't afford to own operate anymore.

 

Exxon Mobil Corp., Shell Oil Co., BP America Inc., Chevron Corp. and ConocoPhillips, which together earned about $123 billion last year because of soaring oil and gasoline prices. - Those are NET profits.

 

Also, you should know due to the insanely high crude prices refineries are cutting back production they are only about 80% The rising price of crude means it costs refiners more to turn the raw product into motor fuel. That gets passed right on to you and I. I guess once oil hits $150 they will just tank. Then again thats the new trend in this economy.

Yeah I think it's real funny when I know owner operators who are selling their trucks and going to work for companies because they can't afford to own operate anymore.

 

Exxon Mobil Corp., Shell Oil Co., BP America Inc., Chevron Corp. and ConocoPhillips, which together earned about $123 billion last year because of soaring oil and gasoline prices. - Those are NET profits.

 

Also, you should know due to the insanely high crude prices refineries are cutting back production they are only about 80% The rising price of crude means it costs refiners more to turn the raw product into motor fuel. That gets passed right on to you and I. I guess once oil hits $150 they will just tank. Then again thats the new trend in this economy.

How will pinning higher taxes on oil companies lower gasoline and diesel prices? When and where has raising taxes on a product ever resulted in lower prices?

So are you okay with paying more for gasoline and everything transported by gasoline in diesel in the belief that it will cause oil big wigs some pain as well?

 

You are wrong about oil big wigs being the only ones not getting killed. The people in Congress who are demonizing oil companies on a daily basis may get away with raising our taxes and using oil companies as the scapegoats. We will all pay whatever new taxes are imposed upon oil companies, in proportion to the amount of gasoline that we use - and the people most responsible for higher prices will continue to get reelected.

I do not think oil companies deserve any breaks. This country is dying and its biggest killer is the oil company.:devil:

I do not think oil companies deserve any breaks. This country is dying and its biggest killer is the oil company.:devil:

So you have no problem paying even higher prices to fill up your tank when the oil companies pass the cost of higher taxes to you? That is what I am trying to understand. Why are so many Democrats so eager to drive prices up on gasoline, diesel, and every product transported by rail, truck, and air?

 

Neither Obama nor Clinton even try to explain how consumers will be helped by hitting oil companies with higher taxes and their supporters seem ready to vote for higher gas prices. I just don't understand harboring that kind of hatred for American corporations that would lead people to vote against their own economic interests.

 

All of this talk of windfall taxes makes me think that liberals have decided that their leaders need to, "Do something even if it is wrong." And make no mistake - it is wrong and people will lose purchasing power and jobs will be lost if Democrats follow through on their promises.

Now that gasoline prices have reached a record high here I would really like to know exactly what the "vital" hearings accomplished? In the meantime more areas of potential domestic production may be ruled off limits.

 

More waters off California may be off limits to oil drilling

So you have no problem paying even higher prices to fill up your tank when the oil companies pass the cost of higher taxes to you? That is what I am trying to understand. Why are so many Democrats so eager to drive prices up on gasoline, diesel, and every product transported by rail, truck, and air?

 

Neither Obama nor Clinton even try to explain how consumers will be helped by hitting oil companies with higher taxes and their supporters seem ready to vote for higher gas prices. I just don't understand harboring that kind of hatred for American corporations that would lead people to vote against their own economic interests.

 

All of this talk of windfall taxes makes me think that liberals have decided that their leaders need to, "Do something even if it is wrong." And make no mistake - it is wrong and people will lose purchasing power and jobs will be lost if Democrats follow through on their promises.

This I know since the person who traded sammy sosa away has been running this country the price of gas/oil and most other things cost more then they ever have before. That tells me the current way is not working.

This I know since the person who traded sammy sosa away has been running this country the price of gas/oil and most other things cost more then they ever have before. That tells me the current way is not working.

Wasn't it the Dems that said they had a plan to lower prices of gas if we'd only let them regain the House and Senate?

Since they took over prices have been higher than ever before.

Wasn't it the Dems that said they had a plan to lower prices of gas if we'd only let them regain the House and Senate?

Since they took over prices have been higher than ever before.

If you believe what they the R'S or the D'S say they are going to do for the AMERICAN voter then you are as blind as they hoped you would be.

If you believe what they the R'S or the D'S say they are going to do for the AMERICAN voter then you are as blind as they hoped you would be.

 

 

So what would you suggest be done to lower prices at the pump?

To start with I would do what so many of the specialist for lack of a better word have been saying on a lot of the local and nation shows on radio and tv. Stop buying oil now and use what we have in our reserves. Clinton also spoke of this a week or two ago.

 

Going on what these news specialist on the news programs are saying we can go a very long time with what we have and after a short time according to them, we could name the price we pay.

 

Also there has been a lot of people on tv and radio showing how easy it is to convert the vehicles we are driving now to use other fuels. Some have come on tour, for a lack of a better word and converted cars over to show how easily this can be done.

 

I would sink more money into this and other fuels that many people have been on news programs saying how this can be done in a short time.

 

I think it was CNN who had a self made billionaire on and he showed the papers for his planned that governments around the country have said no to but, he has his cars converted to this and has no problem with this.

 

We have to much technology around the world to be held hostage so to speak by the big oil companies and the corrupt governments that allow this to be.

Yeah I think it's real funny when I know owner operators who are selling their trucks and going to work for companies because they can't afford to own operate anymore.

 

Exxon Mobil Corp., Shell Oil Co., BP America Inc., Chevron Corp. and ConocoPhillips, which together earned about $123 billion last year because of soaring oil and gasoline prices. - Those are NET profits.

 

Also, you should know due to the insanely high crude prices refineries are cutting back production they are only about 80% The rising price of crude means it costs refiners more to turn the raw product into motor fuel. That gets passed right on to you and I. I guess once oil hits $150 they will just tank. Then again thats the new trend in this economy.

What percentage is that $123 billion?

To start with I would do what so many of the specialist for lack of a better word have been saying on a lot of the local and nation shows on radio and tv. Stop buying oil now and use what we have in our reserves. Clinton also spoke of this a week or two ago.

 

Going on what these news specialist on the news programs are saying we can go a very long time with what we have and after a short time according to them, we could name the price we pay.

 

Also there has been a lot of people on tv and radio showing how easy it is to convert the vehicles we are driving now to use other fuels. Some have come on tour, for a lack of a better word and converted cars over to show how easily this can be done.

 

I would sink more money into this and other fuels that many people have been on news programs saying how this can be done in a short time.

 

I think it was CNN who had a self made billionaire on and he showed the papers for his planned that governments around the country have said no to but, he has his cars converted to this and has no problem with this.

 

We have to much technology around the world to be held hostage so to speak by the big oil companies and the corrupt governments that allow this to be.

What do we do when the reserves are gone, besides pay $10 for a gallon of gas? When there is nothing to fall back on the oil companies will really have us by the short and curlys.

 

As far as converting vehicles to an different source of fuel what is the fuel? I know gas engines can be converted to propane. In the long run it isn't a bad idea but pretty expensive initial costs. Diesel can be converted to run on propane as well as used cooking oil. Problem with that is once everyone did these things propane and cooking oil would go up to $10 what gas costs.

This I know since the person who traded sammy sosa away has been running this country the price of gas/oil and most other things cost more then they ever have before. That tells me the current way is not working.

...and I know that increasing the cost of gasoline or diesel even more will not help consumers. Democrats have been blocking access to reserves that would increase the supply of oil and decrease prices for many years now. They know that increasing supply in a tight market would reduce prices as well as Republicans do, yet they do not want to lose the support of environmental extremists, so they propose stupid non-solutions like imposing more taxes on oil companies.

I want to add that I agree that something needs to be done and I am tired of paying $3.30 for a gallon of gas. But blaming the oil companies isn't the answer. And raising taxes on the oil companies is insane.

 

I would still like someone to answer Ace's question as to what product has decreased in cost due to higher taxes being placed on it.

So you have no problem paying even higher prices to fill up your tank when the oil companies pass the cost of higher taxes to you? That is what I am trying to understand. Why are so many Democrats so eager to drive prices up on gasoline, diesel, and every product transported by rail, truck, and air?

 

Neither Obama nor Clinton even try to explain how consumers will be helped by hitting oil companies with higher taxes and their supporters seem ready to vote for higher gas prices. I just don't understand harboring that kind of hatred for American corporations that would lead people to vote against their own economic interests.

 

All of this talk of windfall taxes makes me think that liberals have decided that their leaders need to, "Do something even if it is wrong." And make no mistake - it is wrong and people will lose purchasing power and jobs will be lost if Democrats follow through on their promises.

 

Should we cut the oil companies' taxes to zero in the hope that they will pass the savings on to us at the gas pump? Seriously, if the stated reason for continuing these special tax breaks for the petroleum industry is so that they will not raise the price of energy, what guarantee does the American public have that they will see lower energy costs and that those lower energy costs in aggregate are worth the tradeoff for the reduced tax revenue? After all, the tax-paying public are the people who will ultimately have to foot the bill for the cost of government if a portion of tax revenue is given back in a special arrangement. Anyone who makes a financial agreement (and that is, in effect, what you are saying we are making here; lower taxes to get lower energy costs) without a detailed understanding of specifically what the parties are agreeing to is irresponsible. That is part of the reason for the subprime mortgage mess.

 

If there is not some specific committment on the part of the oil companies to reduce energy costs in return for these special tax breaks, there is no guarantee of any benefit to the U.S. economy.