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US House votes quadrupling of per-barrel oil tax

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posted on May, 28 2010 @ 04:26 PM
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Well this is good news. Now in addition to the Oil companies raping us, Along with the Feds. Now they take away the lube.

Bastards.

Got Rope?




posted on May, 28 2010 @ 04:40 PM
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Originally posted by SWCCFAN
Well this is good news. Now in addition to the Oil companies raping us, Along with the Feds. Now they take away the lube.

Bastards.

Got Rope?


HELL, Who needs Lube After You've Worked For Our Government As Long As Some Of Us Have!
You just bend over and you feel nothing, No, Pleasure and No Pain.

So, I say to Hell with worrying about it, Come on Boys and Girls and All In Betweens, Filler Up, Go on Vacation, Go fishing, kill some fish for food, go hunting, kill some animal for food, gas up that tractor and rip some plants out of the ground.
Do what you do best. Spend money and have fun, We hard working Americans deserve to have some fun.

OH, Those Whinny Greenie People, Just Ignore Them, Power Up Your Ski Boat and ENJOY!



posted on May, 28 2010 @ 04:43 PM
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Yeay Dems!! we all could use more expensive gasoline couldn't we?
Thata way to lookout for the little guy Dems!

Heck yeah! I couldn't wait to start paying $5 a gallon! woot!


how do people still support these idiots? are YOU that blind?




posted on May, 28 2010 @ 05:51 PM
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It amuses me a little that BP are being made out as some kind of unique rogue element in all this sorry saga.

Companies (all corporations, national or international) will take as much risk on safety and environmental issues as the local regulatory regime will allow. Everything is done down to a cost. Everything. Safety just as much as anything else.

Engineers and safety professionals are always under pressure from the money men in organisations. Big corporate behemoths like oil companies are not normally run by scientists or engineers; usually the only way the morally right thing gets done is when the engineers can say its a legal requirement. Sad but true.

The regulators in turn are run by politicians. If the politicians can be bribed (I believe lobbied is the US term for that process) then you are on to a losing proposition.

What should worry people is that all the other companies are probably as poorly restrained as BP and Trasnsocean obviously were in the southern USA.

The consumer always pays. You either pay upfront in regulation and the additional cost of good engineering flowed through to the pump. Or you pay the cost of extra disaster insurance. As long as you are addicted to the product you pay. Pick your poison.



posted on May, 29 2010 @ 03:58 PM
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unbelievable,this OBAMA adm obviously could care less about the American people,from his poor responce and now tax us for the idiots at BP being a bunch of idiots,doon't blame this on taxpayers,put blame where it belongs



posted on May, 29 2010 @ 04:33 PM
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another taxpayer bailout.

why aren't we holding these corporate criminals responsible for quite possibly one of the worst environmental disasters in history?

i heard on coast to coast last night that the us gov capped oil company losses at 75 million. that's a drop in the bucket considering the profits these companies reap.



posted on May, 29 2010 @ 04:45 PM
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Doesn't bother me. Prices for oil are artificially low, anyways. Plus, you can't count on major corporations to clean up after themselves, so id rather have some cash set aside for inevetible future spills and leaks than have no plan whatsoever.
Maybe if the oil prices get high enough the public will realize how ridiculous it is that we still use such a dirty, expensive, and hard to reach fuel source instead of trying to find better alternative solutions.



posted on May, 29 2010 @ 04:48 PM
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reply to post by RedGolem
 


Is about time, you know foreign oil companies like BP goes around polluting our nations oceans and our Alaskan wilderness and they don't get as heavily taxed and pay a lot less per barrel of oil that US base oil companies.

Is about darn time



posted on May, 29 2010 @ 04:52 PM
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reply to post by justwokeup
 


They have a record that has been kept very quiet of corruption, pollution, poisoning and mismanagement of oil rigs and oil pipes in Alaska.

They have been found guilty of braking many environmental regulations and still they are allowed to drill in the US, our oil and pay less per barrel and be tax less that our own base US companies.



posted on May, 29 2010 @ 04:58 PM
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Originally posted by mooseinhisglory
Doesn't bother me. Prices for oil are artificially low, anyways.


Moosein
Could you exsplain the reasoning behind that statement.



posted on May, 29 2010 @ 05:01 PM
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Originally posted by marg6043


Is about time, you know foreign oil companies like BP goes around polluting our nations oceans and our Alaskan wilderness and they don't get as heavily taxed and pay a lot less per barrel of oil that US base oil companies.





Marg
Could you explain how foreign companies are taxed less and pay less per barrel then other domestic companies?



posted on May, 29 2010 @ 05:11 PM
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reply to post by RedGolem
 


How Much Does BP Pay Us for Privilege of Soiling Our Shores?


$5.8 billion for exposing an ecosystem like the Gulf to the risk of the catastrophe that is now playing out. BP will pay more in liability or cleanup than that.

Of the $5.8 billion MMS brought in from offshore oil and gas drilling, $3.1 billion appears to come from oil, which is our share of the $23.5 billion in revenues for 425,199,067 BBL of oil drilled off shore.

Do the math. If I’m doing my math correctly, that means we’re getting less than $7.60/BBL for royalties the oil. That’s not all the money we get, mind you. There’s the actual bonus bid for the drilling rights and rent up until oil starts flowing; BP paid $34 million to the rights to this particular site. And starting in 2008, royalty percentages for Gulf leases were raised to 18.75%, but a lot of those leases aren’t producing yet. But using the $7.60 we’ve been getting for oil, taking the highest estimates for the rate of spill–70,000 BBL/day–and assuming it will spill for a total of 90 days, taxpayers would get less than $48 million in oil revenues for all that oil, enough to ruin the Gulf ecosystem for a generation, not to mention the serious damage to the fishing and tourist industries. While not all of the fishing and tourist industries will be destroyed, in 2008 all Gulf states brought in over $1 billion in fish, shrimp, and oysters, and $20 billion in tourism


So Tourism and fish industry produces more revenue that we are getting from oil drilling royalties.

emptywheel.firedoglake.com...

What The Top U.S. Companies Pay In Taxes

www.forbes.com...


"Corporations are paying lower amounts of their profits in taxes now than in the past," says Douglas Shackelford, who teaches tax law at the University of North Carolina at Chapel Hill. "Other countries have been lowering their rates, but not the U.S."

Mind you, not all global megacorps enjoy such low tax rates. Try to muster some pity for Big Oil. ExxonMobil ( XOM - news - people ) in its 2009 annual report to the SEC, recorded a larger income tax expense than any other U.S. company last year, some $17.6 billion, or 47% of pretax earnings. Exxon's peers Chevron ( CVX - news - people ) and ConocoPhillips ( COP - news - people ) likewise recorded similarly high effective tax rates. The oil companies are oddities among the multinationals because many of the oil-rich countries where they do business levy even higher taxes than the U.S.



posted on May, 29 2010 @ 05:21 PM
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reply to post by marg6043
 


Marg
so are you saying that BP was paying the eighteen point seven five percent royalty, and you are comparing that to the forty seven percent tax rate of Exxon Mobile?
If so is there still a tax on BP beyond the royality?



posted on May, 29 2010 @ 05:30 PM
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reply to post by RedGolem
 


It means that our own US base oil companies faces more taxes for drilling than BP does, as they have more sites int he US for drilling than BP.

Plus BP safety record for environmental disasters has been ignored also, costing more to the tax payer.



posted on May, 29 2010 @ 05:31 PM
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They wouldn't be drilling in mile deep water if they had been allowed to drill closer to shore in the first place. A lot of the problem with shutting down this runaway well is that it is in such a tough environment for machines to work in.

We have a problem now, and it has happened before too. Google IXTOC I for details.
It may take months to get this one stopped. The gulf will recover, but it will take time.

Does anyone here believe that there has never been a natural oil blowout due to tectonic plate movement and volcanic activity? Maybe that's what happened to the dinosaurs.

How does this work in with the carbon credit crowd? All that carbon is going to go somewhere, and a lot of it will be evaporated and slowly oxidized into the air. Are we doomed to global warming from this. I don't think so.

Human need and necessity and government regs putting them so far out to sea, set up the the situation, and the men on the rig, working with cutting edge technology and techniques allowed the situation to get out of hand by waiting too long to shut it down. It was ironic that there was a rig safety celebration going on aboard the rig at the time of the blowout. I also feel that having the big wigs on board at the time contributed to the crew not shutting it down. The pressure was on to "make show" for the execs, and to keep it looking like everything was just rocking along " business as usual."

My life will be impacted by the actual oil in the gulf, because I live in S W Florida, and fish in the Gulf and the Keys. A big chunk of the economy in this area also depends on tourists, so it will be tough here for a while when the oil comes around this way. We will get through it.



posted on May, 29 2010 @ 05:38 PM
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reply to post by justwokeup
 


What about B P 's "amusing" record below?

"Yet already BP's actions are facing unprecedented scrutiny, thanks to a years-long history of legal and ethical violations that critics, judges and members of Congress say shows that the London-based company has a penchant for putting profits ahead of just about everything else."


www.miamiherald.com...

[edit on 29-5-2010 by manta78]



posted on May, 29 2010 @ 05:41 PM
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reply to post by MelonMusketeer
 


The lifeblood of all the gulf states will be impacted as their main source of income is not from oil drilling but from the tourism and fish industry that now will be in limbo for years to come until the whole ecological disaster is resolve.

This bring the question if all that offshore drilling is really worth it

The only reason US doesn't profit more from oil extracting is because US doesn't have up to day refineries to turn that goo into gas.

So we are actually giving away our natural resources for somebody else to make the profits oversea.

I find that the dumbest idea ever been concocted against the tax payer at the expenses of our environment.



posted on May, 29 2010 @ 05:42 PM
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First they are “Too big to fall”, and now they are “Too big to be held accountable.”

Wow, how retarded are these people? Instead of 4Xing the tax per barrel of oil, how about they just fine the perpetrator of the oil spill 50% of their net profit from the last fiscal year? A couple HUNDRED BILLION will clean the mess up, and guarantee they never commit an ecological disaster again!

How about we tax each politician’s wage and behind-the-scenes bribes to pay for oil spills, since it is their fault for allowing deep water off-shore drilling!

LOL! What a joke! Vote out every incumbent!



posted on May, 29 2010 @ 05:44 PM
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reply to post by manta78
 


Exactly and that comes at the expenses of tax payer in the nation that have to forward part of the money for clean ups.



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