Should the oil companies face a wind-fall profits tax? It is coming up again in the Senet here in America. What do you all think? I think they should, you don't make 40 billion dollers if prices are going up like they keep telling us.
Wind-Fall Tax
Should the oil companies face a wind-fall profits tax? It is coming up again in the Senet here in America. What do you all think? I think they should, you don't make 40 billion dollers if prices are going up like they keep telling us.
C'est la Vie.
Re: Wind-Fall Tax
Tax on success? Do you think the oil companies will raise prices and pass that windfall tax onto you? They are in business for only one reason.
Son of Simetrical
Re: Wind-Fall Tax
Sure they are in business to make money, that is why I am learning to run a business. But with gass prices going up like this all the time, I swear they go up once a day around here, there is no way they can be makeing 40 billion dollers unless they are doing some thing funney. If you know a way to take a commodity that is increecing in price as it is and then make more money than anyone ever, and I do mean ever, you should let me know. Every thing that makes sence to me has said the wind-fall tax would be used to bring the price of gass down to some thing mroe reasonable. Besides it isn't like there is a viable alternative to gass on the market, if there were I wouldn't ask about all this.
Campidoctor
Re: Wind-Fall Tax
i hope it doesnt pass. theres nothing wrong with making a profit (no matter how large it is).
Re: Wind-Fall Tax
So if I have some thing you need, infact the country dosen't work without it, I should beable to charge what ever I want and justify it with BS like, "Well the price of oil is going up"? If the price of oil was going up you wouldn't see such high profits, it would be about the same as it always was. It dosen't make much sence to me.
Campidoctor
Re: Wind-Fall Tax
they dont charge whatever they want. what makes the prices at the pump high are the taxes and the processing the oil to gas. right now we are short on refineries.
Last edited by misfitsfiend138; May 07, 2008 at 10:05 PM.
Re: Wind-Fall Tax
No, actualy that is wong. We, in America, actualy don't pay the full price for a gallon of gass. It is subsidized by the government to keep it low.
But, just for fun, lets supose you are right, gass prices are high beacouse of taxes. If I sell you some thing for 100 bucks and I have to pay a 15% tax on it I make 85 bucks. Now if I sell you that same thing for the same 100 bucks and have to pay a 30% tax on it, that is dubble you know, I only make 70 bucks. Now, if I am paying more tax how am I suposed to make more money on it, let alone more money than anyone ever? That is what Exon has done. It is a good thing you are not right or my head might just explode.
OOOO collusion, I like that. Sounds so dirty. I am all for it if it lowers the price I pay at the pump.
Comes Rei Militaris
Re: Wind-Fall Tax
I'd instead try a full on investigation into collusion.
according to exarch I am like
Spoiler Alert, click show to read:
Simple truths
Spoiler Alert, click show to read:
C'est la Vie.
Re: Wind-Fall Tax
Yes, that's how capitalism works. The oil speculation markets may be regulated though. Democrats are looking at that closely now. Just saw a hearing on CSPAN.
Son of Simetrical
Re: Wind-Fall Tax
Regulated hu? Well if they broke those regulations to make a boat load of money don't you think some thing should be done? Like a wind-fall tax to take away their illgoten gains?
Gass taxes are fine, they make the road good like you say. But they don't make the price of gass go up to the point of 40 billion dollers in profit in a quarter.
Civitate
Re: Wind-Fall Tax
I don't understand how gas prices are going up and Exxon Mobile is getting fatter either... A company that makes $500 billion in revenue and $50 in profit is a beast. The price of oil going up has to do a lot with increased demand across the world (Asia particularly) and the weakening of the dollar (our money is worth less in foreign markets).
This makes some sense to me but why isn't competition driving the price down? If they are making healthy profits then they should be able to lower prices. That's how capitalism is supposed to work: producers compete over consumers. If oil companies are making deals with each other then that would explain a lot...
EDIT: Just read that NPR.org link... It's interesting. Why isn't the market for oil more competitive? I don't think I like OPEC much more after reading that article... :-p
Last edited by fatsheep; May 07, 2008 at 10:18 PM.
- October 25th, 2008Originally Posted by Rush Limbaugh
Comes Rei Militaris
Re: Wind-Fall Tax
Actually I suport a gas tax so to pay for road repairs, and bridge repairs, you know so we don't see a repeat of that bridge collapse.
according to exarch I am like
Spoiler Alert, click show to read:
Simple truths
Spoiler Alert, click show to read:
Campidoctor
Re: Wind-Fall Tax
yea right, wateverIt is subsidized by the government to keep it low.
http://www.npr.org/templates/story/s...toryId=5365439
Re: Wind-Fall Tax
That is a nice article, it points out how I am right in a lot of way. Those oil companies are pumping oil off my land, managed by the fed for me of cource. They rent the land at $25 per barle, now oil prices are up around $112 per barle. Why don't they pay the fair wage for my oil? The oil companies say they shouldn't be taxed beacouse it will limit there abillity to invest in new things that will save the day. How much do they invest now? I have heard the figures were prity low, like 25 mill, that is less than one percent.
If you still think that gass prices are not kept low by the fed with subsidies go over to Europe and ask them what they are paying for gass where they don't subsidise oil companies near as much as we do, if at all.
Drilling in ANWAR wouldn't do much of any thing to shore up supply and last I heard the refineries that have been shut down were damaged by huricanes.
C'est la Vie.
Re: Wind-Fall Tax
There is some evidence that the system has disconnected from supply and demand. OPEC is a cartel that would be prosecuted here, we don't drill much here (/cough environmentalists), don't refine much (/cough environmentalists), and speculators are driving prices up 20-40% or so.
The profits aren't being translated to our gas companies on a per gallon basis that greatly. It's about 9-18 cents a gallon. But demand is growing, supply not so much.
There have been hearings lately in Congress to look at it. They are going to close the speculator loophole to start, I think. The rest is the argument between alternative fuels and drilling ourselves in anwar, etc. to gain more supply.
What's Obama's position on reducing prices, Sheep?
Last edited by Senno; May 07, 2008 at 10:23 PM.
Son of Simetrical
Civitate
Re: Wind-Fall Tax
Increase fuel efficiency standards, long term investment in alternative energy, and also investment in mass transportation. You can read on Glassbooth and his website.
- October 25th, 2008
Campidoctor
Re: Wind-Fall Tax
wat country u from? also i dont see how the article says youre right in any way. "rent the land at 25 per barrel " wtf?
Last edited by misfitsfiend138; May 07, 2008 at 10:43 PM.
Re: Wind-Fall Tax
America.
Campidoctor
Re: Wind-Fall Tax
i thought u were from somewhere in europe
C'est la Vie.
Re: Wind-Fall Tax
$25 million reinvested? Just one company planned to spend $8 billion in 2008.
http://news.moneycentral.msn.com/tic...772&Symbol=MRO
Overall industrywide I saw on CSPAN it was 900 billion in profits, 1,25 trillion in capital reinvestments. I can't find the listing for it on CSPAN atm.
Again, they are in business to make money. If you windfall tax them, they will simply raise prices and pass the tax on.
Anyway, we just discussed this like yesterday in another thread. I've had enough of oil for the time being.
Ahh, thanks for the info Sheep. Well, I hope Congress does close the loophole they opened. that would take 20-40% out of it.
Son of Simetrical
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