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Why Gas in the U.S. Is So CHEAP ???

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posted on May, 4 2008 @ 06:18 PM
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reply to post by mybigunit
 

SO 30 billion in profit but we give 18 billion of that back so they pay 12 billion on 40 billion in profit so they pay what 28% in taxes when your average person making 100k will pay 30 to 35%? Not only that oil in my eyes are different. so 28 billion profit not to bad of a take considering there really is no other options to choose from.


The entire $18 billion does not go to Exxon alone.

30 to 35% is less fair than 41.4% in what way?

From the same source as the graph you posted

By the way, Exxon pays taxes at a rate of 41% on its taxable income!

[Update: The $40.6 billion and $39.5 billion figures are after-tax profits. For 2006, Exxon's EBT (earnings before tax) was $67.4 billion, it paid $27.9 billion in taxes (41.4% tax rate), and its NIAT (net income after tax), or profit, was $39.5 billion.]




posted on May, 4 2008 @ 06:53 PM
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Originally posted by Boone 870
reply to post by mybigunit
 

SO 30 billion in profit but we give 18 billion of that back so they pay 12 billion on 40 billion in profit so they pay what 28% in taxes when your average person making 100k will pay 30 to 35%? Not only that oil in my eyes are different. so 28 billion profit not to bad of a take considering there really is no other options to choose from.


The entire $18 billion does not go to Exxon alone.

30 to 35% is less fair than 41.4% in what way?

From the same source as the graph you posted

By the way, Exxon pays taxes at a rate of 41% on its taxable income!

[Update: The $40.6 billion and $39.5 billion figures are after-tax profits. For 2006, Exxon's EBT (earnings before tax) was $67.4 billion, it paid $27.9 billion in taxes (41.4% tax rate), and its NIAT (net income after tax), or profit, was $39.5 billion.]






I dont think the 41% is completely right I will do more research because I think on top of the breaks they also defer a bunch in taxes while their lawyers figure it out. Ill talk to a friend of mine to find that out. If I find out to be true and even if it comes down to they pay 30 to 35% its still not fair that they are paying the same %. On top of that they are in an industry that is vital to both our economy and national security and I personally dont think they should be out there making the kind of profits that they are making at the expense to us. At the end of the day every dime we pay in gas is just another tax. Also my beef isnt just with Big oil its with the FED who is in the middle of this all making their share and the government who is spending all the money they are spending so we have to pay this tax. I will get that info but in regards to gas being cheap here it is not cheap here and we should be paying a lot less.



posted on May, 4 2008 @ 07:13 PM
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reply to post by mybigunit
 


If I'm not mistaken, the $18 billion in subsidies are spread out over a five-year period and Exxon has already paid over 9 billion in taxes this year which is a 49% tax rate.


Perhaps more surprising was this figure buried in the Exxon (XOM) report: $9.3 billion. That's how much Exxon paid in worldwide income taxes in the first quarter of 2008, representing a 49% tax rate on its gross income of $20.2 billion Source



posted on May, 4 2008 @ 08:48 PM
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I think this statement is a couple years old, so the dollar figure would be higher at the moment.

According to the National Defense Council Foundation, the economic penalties of America's oil dependence total $297.2 to $304.9 billion annually. If reflected at the gasoline pump, these “hidden costs” would raise the price of a gallon of gasoline to over $5.28. A fill-up would be over $105.

source

The US taxes are not for funding social/general programs but more like a "user fee" for drivers (highway maintenance/building, example). There are also state/local gas taxes for the same. There is no gas tax to discourage fuel consumption.
As noted in the source above, the security, i.e. military, cost of a gallon of gas for Americans is not a part of the pump price. The price Americans pay, especially those Americans who have paid with their life, is not reflected in the sign at the gas station.



posted on May, 4 2008 @ 10:15 PM
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Wow! Sometimes you have to step back and shake it off. Most everyone on this site is somewhat educated, some are borderline genious. What gets me sometimes is that you get caught up in conversations that do nothing but waist time, yours and mine. Big Oil? Do you think for one minute that any numbers that are presented to any public source are accurate? Think about this for one second. Try to imagine how big these companies were before 9/11. Gas was about 1.20 to 1.50 a gallon in mid 2000. They were making billions and billions then! Imagine if they(Big Oil) were still paying 2000 market prices for oil at the well and then applying current market prices to the American Consumer at the pump. They would be afraid to tell anyone just exactly how much money they were really making. It would not stand. Big Oil has contracts with these people and they are not going to be screwed with by anyone!!!!!!!! I don't think anyone really knows just how powerful the Oil Industry is. 10x's what you think!

There are alot of smart people on this site. Some good and some of you and you know who you are work for the man. The monitors!

The only way that we as a people will be able to regain control of our economy and end these high gas prices is to get behind the Truckers of this nation and get them to shut their trucks down in the middle of the freakin road and not move until the President himself came out and ended these high gas prices. It is going to end life as you know it in this country if we do not act now!!!!!!!! It is the only way. We have to do this!!!!

Everything in this country depends on those trucks. Everything!

If you are interested in putting a team together to start a project, I am right here waiting. God put me on this planet for a higher purpose and I am just waiting to see where he guides me.


Eye of Eagle



posted on May, 4 2008 @ 10:38 PM
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Ok, I understand that people are frustrated with the prices of oil/gas...but have we actually thought of the consequences of this price increase? I'm talking good and bad...and I think we've talked plenty about the bad so I'll talk about the good...I think everyone here knows that America is not very well known for the majority of our citizens being super-athletes. America is obese. We can't deny it. Maybe instead of driving two blocks to go to work every day we could walk. Maybe instead of driving a mile to the nearest fast food place, we could ride a bicycle. I understand that sometimes it isn't reasonable to walk or ride a bike to work/school/whatever, but when it is possible, it certainly couldn't hurt... Maybe this price increase will nudge us back in the right direction...Maybe, slowly but surely, America will one day NOT be the fattest country in the world... Back to the topic at hand...we've concluded that we need the gas to travel, whether to work or school or play...it's mostly what we use it for. When someone absolutely needs to use a gas-powered automoblie to travel to thrive, that is completely understandable. However, we haven't mentioned that a lot of that gas is used for recreation. Nascar, Motocross, go-carts, street racing, etc are all nonessential activities that use our precious gas. If you do any of these things, you really haven't a right to be complaining about how high the gas prices are, because you certainly haven't helped them any...



posted on May, 5 2008 @ 12:00 AM
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Originally posted by the way

I notice no-one has taken issue with the comments i made about your foreign policys biting you on the ass? Any takers?



Sure, I'll take you up on that one. You're absolutely correct. Our foreign policy is horribly misguided. WWI and WWII had nothing to do with us and we should have left it that way.

Instead, we not only took on the responsibility to help then, but continue to help to this day. Our military spending throughout the world is entirely overboard and we shouldn't be doing it. We need to bring our troops and equipment home, secure our friggen boarders, and let the rest of you figure out for yourselves what our presence throughout the world has meant for all these years.

Our current administration is balls, there's really no denying that. However, the last seven years are only a small part of what this country has done on the foreign stage and a great deal of time money and lives were spent by us trying to keep the rest of the world "safe."

But alas, the current administration has destroyed everything this country has worked for and done right since it was founded and that's just a damn shame. Their goal really seems to be getting us to accept the dictatorial/fascist/socialist policies that have worked so well at controlling the populations around the globe.

And to the OP, you can stfu about we because you are certainly NOT an American. You and The Way both seem to have a chip on your shoulder levied at the American People and I for one resent it. We, as a people, are doing what we can to change our government's imperialistic policies, but we have no more power than you do. We protest and we lobby behind politicians that stand for the change we need but it's futile. TPTB are entrenched and short of outright revolution, we ain't gonna change it. Levy your hate at our government, not our people!



posted on May, 5 2008 @ 03:12 AM
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So what you say is we pay little compare with rest of world, so we should shut mouth and raise price at pump to be same as rest of world, then be screaming?

Give me a break! The world isn't a freaking socialist daycare camp, nor should any red blooded American want it to be. How many shillings John Q. Shoemaker pays per liter of petrol doesn't mean squat to me. I live in a world of dollars, gallons, and (what the foreigners seem to be missunderstanding about America) many, many miles between my home and my office. Public transportation in the US is a joke! Plus, even if they did fix that system, it wouldn't do me any good because I'm not some urban pigeon that's comfortable living with a concrete jungle or a stewpot of mixed humanity surrounding me and my every move. Travel outside of the major hubs of the nation into the rural areas surrounding those cities and you'll find thousands of Americans who feel the same way. So the Euros can tax the everloving hell out of their fuel all they want, it really is none of my concern.

What is my concern is seeing "but country XYZ pays more than we do. We should be paying more." Anyone who honestly feels that way seriously needs to jump into a time machine, set the dial to "America, 1950," track down a gentleman named "Joseph McCarthy," and explain your idea to him. I'm sure you'll find him very hospitable and interested in what you have to say. Your attitude is based around a large part of why communism doesn't work and never will work. Once again we see a situation arise where, instead of attempting to improve those worse off while still retaining the very high standards set by the standard bearer, the communist's solution is to bring the standard bearer down into the living hell the poor SOB at the bottom of the ladder is dealing with. In this case, the situation is "The United States is paying too much for fuel while many non-middle eastern nations pay even more." The SMART solution is: "Let's find a way to bring the USA's fuel price back down to the reasonable levels it used to enjoy while putting an end to insane liberal taxation of fuel in nations which expect their citizens to pay 2, 3, or 4 times the already unreasonable price Americans pay." The comrade's solution: "America is not paying her fair share! Make her pay more and make other countries pay more to ensure all countries suffer more equally."

I'm telling you, globalism is gonna kill us all. Not in this fantasy NWO crap, but rather the globalistic attitude some Americans are currently suffering from that makes them drop their nationalistic, America first, "Hey, *fill in whatever foreign country you wish here* watch me swing my big brass set of American balls in your face!" arrogant egos. Being an American IS still worth being arrogant over and it's worth not accepting any scenario that drops us down to the level of the rest of the world, even when it comes to the price we pay for our gas.



posted on May, 5 2008 @ 08:30 AM
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In Toronto (Canada) we are currently paying about $5.45 CAD per gallon, or about $5.36 USD.

Actually we just filled up because it was "only" $5.36 CAD recently, but a few days earlier it went up to $5.68 per gallon.



posted on May, 5 2008 @ 11:16 AM
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I don’t think the issue is who hurts more. At least it isn’t mine. Mine is to show how to cope with those skyrocketing prices. Maybe, just maybe one can learn from others that do have to cope with ‘even more’ ridiculous fuel prices which are not going to go down. That’s stubborn utopianism. The prices will continue to rise and fuel will ascend towards the $10 mark in a matter of time. You don’t have to believe that, I didn’t either.

But what does it look like?

Even if the public transportation is a jewel for the nation, it doesn’t top driving your own selfish self to wherever. Even the best PT will take double the time to reach wherever you want. (Excluding bullet trains.) Nothing beats your own space, your own speed, your own music and your own air or even your own tickets to pay. So lose that lame public transport excuse. One won’t use PT unless you reallyreallyreally have to. I was in such position for years and will not go back even if fuel prices would double up. I can, for the moment, get around cheaper and more pleasant with my little dinky.
I bet that liking the independence is why your PT stinks the way it does. The reason why it smells a little less over here is that my country is inkypinkytiny so it does not take a lot to have slightly better PT.

The one thing that allows me to keep driving is because my dinky does a lot more mileage per gallon than the average Beverly-hills-harvester. So if you’re on a tight budget it is kinda smart to look for those dinky’s now that they are not really popular yet. Once they become popular, and they will be rather soon, the price goes up and the realisable value of the regular whirlpool™ tank will plummet.

Act now.



posted on May, 5 2008 @ 11:41 AM
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Originally posted by vor78
reply to post by 123space
 


Its a big deal because the entire economy is ultimately based upon the price and availability of fuel.


Not just the economy but the entire US culture has been, in a historical sense, built around travel, highways, and independence: in other words it's been built around the Motorcar, for the last 100 years or so.

Many people drive 50-100 miles each day to work, some even further. In the Metro DC area where I live, it's not unusual to see a 75mile one way trip-just to work.

So double or triple the price of fuel and commuting to work becomes something more costly, sometimes to the point of losing money. Yet there are no jobs that pay well in the vicinity of the commuter.

I guess it doesn't matter if the US is outsourcing all jobs anyway.



posted on May, 5 2008 @ 12:21 PM
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Originally posted by Boone 870
reply to post by mybigunit
 


If I'm not mistaken, the $18 billion in subsidies are spread out over a five-year period and Exxon has already paid over 9 billion in taxes this year which is a 49% tax rate.


Perhaps more surprising was this figure buried in the Exxon (XOM) report: $9.3 billion. That's how much Exxon paid in worldwide income taxes in the first quarter of 2008, representing a 49% tax rate on its gross income of $20.2 billion Source





Ok Boone I have your answer. They deffered 21 Billion in taxes last year essentially only paying 9 billion while the other 21 sits in limbo while the "tax Lawyers" figure it out. That changes the equation. Once again as far as Im concerned whether its 20% in taxes they paid or 40% to me they are in an industry that shouldnt be making a ton of profits. They affect the economy to much to be gouging and yes there is gouging. I dont know if oil companies, speculators, the fed someone is gouging. For example today the dollar is 1.54 to the euro but oil is over 120 again...wtf how can the dollar rally and oil still go up...well the dollar excuse is done now so now it will go back to supply issues. BS there are no supply issues out there. This whole deal makes me sick and pisses me off to the Max. I hope whoever is elected next investigates even though I know and you know it wont happen.



posted on May, 5 2008 @ 01:17 PM
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Originally posted by poisonmekare
In Toronto (Canada) we are currently paying about $5.45 CAD per gallon, or about $5.36 USD.

Actually we just filled up because it was "only" $5.36 CAD recently, but a few days earlier it went up to $5.68 per gallon.


Yep, I'm near the GTA as well.

It's steep here... kinda makes you feel little to no pity for the Americans who complain about their fuel situation, when we pay more than them.

And for those who would shout "but what about currency conversion!?" The Canadian Dollar and the US Dollar are hovering on par.


Luckily for Canadians, our transit routes via Rail and Road are pretty much lined up along the population centers, making trade and transit within Canada relatively easier than in most nations.

Well... at least rail... I'm still wondering when they're going to turn the rest of the Trans Canada highway into an actual highway.


In the US, the population centers of their country are rather scattered, meaning you can't easily double up on cargo loads... most cargo has to go direct.

Here in Canada, the same train going to BC can drop things off at the majority of the population centers along the way, saving a HUGE amount on fuel and costs.



posted on May, 5 2008 @ 01:20 PM
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man, are americans a bunch of whiner sissies or what ???

stop buying useless big inefficient SUV's like escalade and navigator , use small cars and you will be able to save money

Americans=love to be inefficient



posted on May, 5 2008 @ 01:43 PM
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Originally posted by BrezhnevX
man, are americans a bunch of whiner sissies or what ???

stop buying useless big inefficient SUV's like escalade and navigator , use small cars and you will be able to save money

Americans=love to be inefficient


and gas in russia right now is 1.45 ummmm Ill bet if they were pay $4 over there they would be biatching too



posted on May, 5 2008 @ 02:08 PM
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reply to post by Yell04
 


Please do! If the U.S stopped meddling in other countries politics and affairs the world be a much safer place. Is Korea a safer place after your involvement? What about afghanistan? Really sorted out(secured) the drugs problem in central america, hey? Iraq is just soooo much "safer" now isn't it? Ever find those WMD's?
By the way i never once attacked the american people-only your environmental and foreign policy, i'm smart enough to know the difference between desicions made by your administration and the american public. Sadly given the jingoistic,blindly patriotic nature of the majority of your citizens,if you criticise one...well you see where i'm going with this?
And in all fairness...well, you get what you vote for!
If more of you had been, a bit more outraged when bush stole the election then maybe the oil situation wouldn't be so bad?
Again, i will re-iterate my point:make your armies stay at home,get them to work on civil engineering projects like sorting out your shabby transport infrastructure and let other countries work on their own "democracy".
And if you will go around cluster f**king other peoples countries when they havent attacked you then you will just have to put up with criticism from people like me and outright "death to america" from others.
I think thats fair enough, don't you?



posted on May, 5 2008 @ 05:47 PM
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reply to post by the way
 


Just an idea...maybe you should view some of the many pictures taken of U.S. Soldiers helping people in Iraq...and how the Iraqi citizens react...then tell me it isn't better that we're there helping them



posted on May, 6 2008 @ 06:07 AM
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YOU RIGHT LETS SEE WHAT WE HAVE IN FUTURE FOR US AMERICAN



posted on May, 6 2008 @ 10:18 AM
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Originally posted by 123space
YOU RIGHT LETS SEE WHAT WE HAVE IN FUTURE FOR US AMERICAN


I think the future could look something like this.













I can’t wait to get one of those porsches!



[edit on 6/5/08 by D.Wolf]



posted on May, 7 2008 @ 09:30 PM
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reply to post by the way
 

Ahhh, I see what happened...

I just got back in from a four-day trip as opposed to my normal two-day runs. Apparently you thought I was ignoring you. My apologies; I work for a living. In any case, I am reposting here my U2U response to you, where I think any debate should be located: in the open.


My point was that I was not attacking nor intending to attack any other nation. My post was referring to USA-specific situations. I will apologize for not having as broad a view of the world as you do. I have not traveled outside the USA, and perhaps that is a detriment to my understanding. In my defense of the cleanliness of the USA, I can tell you that diesel fuel here is being reformulated to 15 parts per million sulphur content, diesel engines beginning in 2007 are required to have particulate filters, the CA Air Resources Board (CARB) is requiring all trucks to be retrofitted to those 2007 restrictions, the EPA is overseeing every aspect of life, and the air quality index for all major cities has improved in the last 10 years.

China is building coal power plants (one of the dirtiest types of combustion available) at the rate of a few per week. Along with India, as I stated, it is exempt from Kyoto. Regardless of whether you were referring to Western or industrialized nations, we all live on the same planet and share an atmosphere. To limit one's reference to a specific geographic region is therefore illogical and hints at a political agenda. That's where I got the wording 'propaganda'. You appear to be confused a bit on your facts, and that usually indicates skewed information... otherwise known as propaganda.

As for the rest of your U2U, I am ashamed that our leaders have seen fit to indulge in the whole 'suspected terrorist' concept; it is in direct opposition to everything our country stands (stood?) for. I am also against most of the wars we are engaged in. A notable exception is Afghanistan/Iraq, and Iraq is beginning to look like it was started for political reasons, which means I cannot support it. Just because I love my country, it does not necessarily follow that I will agree with what others in my country do, even those who are in power. And I will agree that in many ways our foreign policy is out of control and wrong.

I do not know where you are from, but the USA has won wars and yet never engaged in the spoils of war; that is, they have given back the land taken and even spent trillions to rebuild what was destroyed. We have come to the aid of oppressed peoples many times, with no thought for our own interests. We give billions of our dollars every year to other countries, many of whom have never paid back one cent or who have refused to repay our kindness.
And our citizens give more to the world as a whole in charity than any other country in the world, past or present.

When we were attacked on 9-11, who came to our aid?


TheRedneck




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