Big Oil before congress: If you take away our 18bn tax breaks, gas prices will go up.

This is disgusting. I say charges should be pressed against the oil companies for trying to screw up the country because they don't think they're rich enough! Maybe some sort of conspiracy charges?

[edit on 2-4-2008 by GrayFox]

Originally posted by Sublime620
reply to post by WhatTheory

 

I suppose you are talking about lithium phosphate? Do you have any sort of source that shows we will run shortages on that, and that they cannot be recycled?

I've never seen that, would be interested if you had one.

I'll see what I can dig up. I only remember reading an article about it so I will see if I can find it.

Originally posted by The Nighthawk
Again I call Bullsh!t.

You can call it want you want. I don't care but you are incorrect.

Opinion holds more weight than you realize. Do you vote? Voting is an opinion.

Making baseless accusations with no proof is not the same as voting. You must find an appropriate analogy.

reply to post by WhatTheory


Thanks man. That would be a legitimate concern for the future.

Originally posted by GrayFox
This is disgusting. I say charges should be pressed against the oil companies for trying to screw up the country because they don't think they're rich enough! Maybe some sort of conspiracy charges?

[edit on 2-4-2008 by GrayFox]

What have they done wrong or illegal?
What charges would you bring them up on?
You do realize 'big oil' does not set the price for oil right and that they only make 8 cents per gallon of gas sold. They make their money via volume of sales and not from a markup in price.

Originally posted by Sublime620
reply to post by WhatTheory

 

Thanks man. That would be a legitimate concern for the future.

Looks like I am going to have to dig further because I cannot find it. In fact, after doing a fast Google search, I am starting to think I might have to concede the recyclable aspect of lithium phosphate battery argument to you. Hmm....either I read an old article or I am mistaken and got my phosphates confused. I will continue looking though.

reply to post by WhatTheory


It's no problem if you can't find it. You don't have to concede (never concede!), just change the subject (that's what I do).

I'm going to look also. Maybe I'll find something.

Here are a few things I found:

How will Lithium Batteries Shape the Future?

Lithium-ion batteries are nearing their theoretical energy density limit and battery manufacturers are beginning to focus on improving manufacturing methods and increasing safety. David Perlmutter, Senior VP and General Manager of Intel's Mobility Group says, "Right now, the industry is working primarily on improving the manufacturing and reliability of traditional lithium-ion batteries."

The recall is unfortunate. It's a huge task that will have a long-term ripple effect. Economists predict a setback in form of shipping delays and higher battery prices. Recycling 10 million lithium-ion packs is no easy task. The roughly 70 million cells in these faulty packs will need to be replaced. Sanyo is the largest manufacturer of lithium-ion and produces 42 million cells per month. Sony follows second with monthly production of 27 million cells and Samsung is at 26 million.

Li thium Batteries for Cars Expensive

To be sold into the EU market a car must be 100% recyclable at the time it is offered for sale there. This means that before the car is on the market Continental and Mercedes must have an EU Environmental Commission approved recycling plan in place; I am not aware that this has yet been done, but it must be under way with a definite finish time.

The USA does not yet have such a legal mandate on recycling automotive components, so perhaps in order to avoid the additional costs entailed by combining with Daimler to buy from Continental GM has I believe chosen Hitachi to manufacture its lithium batteries, in Japan, to where they can be returned for recycling or disposal without GM needing to wait for any regulator's approval.

that sounds like blackmail to me.

Originally posted by 024ORP
maybe they should boycott oil and look somewhere else for gas. There's Hemp, corn (i think), nuclear power. i dont know anymore. they should use hemp for gas. It would really be good for the enviroment.

Or.. maybe all Electricity, Water and Gas/Oil companies should be NATIONALIZED.

No one should make a profit.

Originally posted by BlueRaja
It's terrible policy to have the government interfere with market forces.

Obviously you haven't read up on you "laissez Faire" Economy... anyone up for going back to the beginning of the industrial era and working 14+ hour shifts for a penny an hour?

reply to post by The Nighthawk

This has nothing to do with deciding they have too much money. It's about making them pay their fair share back to the society that buys their products and gives tham all that money.

What do you consider fair? Does the below seem unfair to you?

Conclusion: In other words, just one corporation (Exxon Mobil) pays as much in taxes ($27 billion) annually as the entire bottom 50% of individual taxpayers, which is 65,000,000 people! Further, the tax rate for the bottom 50% is only 3% of adjusted gross income ($27.4 billion / $922 billion), and the tax rate for Exxon was 41% in 2006 ($67.4 billion in taxable income, $27.9 billion in taxes).
Source

reply to post by Rockpuck
That's a good idea.Why should anyone own it? because our guns are bigger than yours?Nobody has the right to claim anything.We all live on the earth so evryone has a right to it.

It should be the other way around. It should be Government before Big Oil companies. The government makes more money off of the oil than anybody. I believe in free interprise and capitalism. These oil companies have done nothing wrong and deserve our respect. I can go to any gas station in my town and fill up with different fuels thanks to the oil companies processing it. It's funny how the congress/government is turning this around and making the oil companies look bad when it's the government that's the crook.

EIA estimates it costs U.S. oil companies an average of about $24 a barrel to find, develop and produce oil worldwide, but that doesn't include costs like transportation, administration, or income taxes - which can be substantial. While Exxon made $40 billion in 2007, a 60% increase from 2004, it paid $100 billion in taxes and royalties.

CNNMoney,Com

reply to post by 19DCW71


I was thinking more along the lines that.. because we NEED it.. and because its a national security reason, and because we live off electricity, water and oil. We the tax payers should own it.

Hey, what would Hugo Chavez do?
Lets see.. approx $.80 per gallon in combined fed and state taxes.
I don't know the figures, so I'm quoting a figure from a previous post...
oil companies make 8% per gallon. which is .26 at $3.25 per
AND they are calling this RECORD profits. OF which they are taxed at what rate I don't know, since I guess they get a break. lets say it's 20% so $.025 per gallon.

At any rate, I can see just who is making all the money here. And pissing it all away, as usual. They are very fast to tell us the exact figure of oil company profits, try asking what the collected TAX figure is.
And then remember whose pocket every penny comes out of.
They say it's not fair to us, but who gets it when they confiscate the profits????
Oh yeah, the same guys who got the money when they sue the tobacco companies.

AND you guys are complaining about the pharm co's?? So the govt can gobble up their profits as well??????

Maybe we should take the fast track to socialism and have the govt take over the oil companies, when prices rise out of control then who will be to blame???

The only way the world is going to get a grip on the short and curlies of OPEC/Bush BP empire is to make sweeping changes in renewable green energy sources. What is the likelyhood of this? Probably not great in the foreseeable future while a head of lettuce will cost 5 dollars and independent truckers go bankrupt.

reply to post by Karlhungis


Say it with me
REGULATION

The oil industry is almost single handedly destroying the american economy and they should not be allowed to wield that kind of power.

Someone needs to step in and reign them in before this recession turns into a depression.

In some ways this is very confusing because I thought the USA imported most of its oil from Canada.

If there is such disatisfaction with the pricing perhaps taxes on petrol/gasoline should be rolled back and the price per gallon/litre frozen at an acceptable amount.

Then again perhaps all of the petroleum companies in the USA should be nationalised so that this vital element in the US economy does not cause further slowing to an already destablised economy.

reply to post by me262


Oil companies depending on the year are taxed at a rate of 50% on the federal level on excessive profits. If Exxon makes 200 billion, they are taxed 100 billion. But they have the security of the American Military to ensure high prices for record profits for record taxation but still bringing in a massive profit.