• Announcements

    • Benny

      Forums Restructured   09/22/2016

      A lot of less active forums have been removed and consolidated with larger forums.  SEC Recruiting and Official Game Threads have been merged into SEC Football Talk.  All SEC Social Groups have been moved under their respective team forums. All other Social Groups have been merged into the Water Fountain. Other less active off-topic forums such as Think Tank, SciFi, Gaming, etc, have been merged into the Water Fountain.

Archived

This topic is now archived and is closed to further replies.

BlackSheep 171

Obama to drop tax benefits for oil companies...not so fast says dems?

18 posts in this topic

Obama came out and made his speech this morning how American oil companies don't need their tax breaks anymore because they are making too much profit. He also pushed 'green energy' again, which is yet to make a jet take off (has anyone seen that with anything besides a fuel made from oil)

1st problem I have is.....they are private owned companies producing and selling a commodity. The Govt shouldn't be able to interfere because of profits, sure if they are doing something illegal, then by all means, step in and correct the situation.

2nd problem is that prices would go up at the pump even higher if the oil companies lost their tax breaks.

To me it was funny when a few hours after his announcement that the democratic lead Senate vetoed the bill. Nice to see the democrats shrugging off Obama.

post-14219-0-73867000-1333074447.png

0

Share this post


Link to post
Share on other sites

When the government says a company is makIng too much profit, that's when you know they've overstepped their boundaries

3

Share this post


Link to post
Share on other sites

Barry would never let this happen. This would mean it would be his fault.

0

Share this post


Link to post
Share on other sites

So are we for or against subsidizing oil prices with tax dollars?

0

Share this post


Link to post
Share on other sites
So are we for or against subsidizing oil prices with tax dollars?

Yes

0

Share this post


Link to post
Share on other sites

"When the people fear oil companies, there is tyranny and massive recessions; when the oil companies fear the people, there is an economic boom and prosperity."

0

Share this post


Link to post
Share on other sites

Take notes people this is one of the NUMEROUS reasons to get Obama out of the Oval Office. Hes running this country into the ground.

0

Share this post


Link to post
Share on other sites

Raising taxes on oil companies is not going to bring down the price of gas, if anything it will raise them. Furthermore, those wanting to raise taxes on oil companies only show how totally ignorant they are about oil prices. Here's a clue... THE OIL COMPANIES DO NOT SET THE PRICE OF THEIR OWN PRODUCT. Oil is a commodity sold on the open market. There is not some fat guy smoking a cigar sitting behind a giant oak desk setting the price of oil. What determines the price is what those trading on the oil market is willing to pay.

Furthermore,scarcity of oil is not even one of the main drivers when it comes to high oil prices. There is still a vastly abundant supply available. In fact we have more oil here in North America than there is in the Middle East, it's simply not been tapped.

Also, unrest in the Middle East is only part of the reason that oil prices are going through the roof. The main driver that has made oil MORE THAN DOUBLE since Obama took office is the fact his monetary policies have made the US dollar lose somewhere around half it's value during his time in office. Look at the price of oil compared to the value of golf. Both commodities are still relative to each other like they were in 2008. But when you look at the US dollar it's lost half it's value over that time due to Obama printing more and more of it like there is no tomorrow. When a government prints more money it makes that money lose it's value. Since the entire world trades oil based on the US dollar then that means it now costs about twice what it did in US dollars.

So, you want to blame someone for high gas prices, look no further than this guy....

barack-obama1.jpg

2

Share this post


Link to post
Share on other sites

Dropping tax benefits on oil companies is not the the equivalent of raising taxes on them.

Grover Norquist himself said this months ago.

But yes Vader, you are right; Obama and Bush 43 destroying our currency is a the main reason why prices are so high. The $ isn't worth s--te.

1

Share this post


Link to post
Share on other sites

Dropping tax benefits on oil companies is not the the equivalent of raising taxes on them.

Grover Norquist himself said this months ago.

Oil companies get tax credits, just like regular folks get a tax credit on things like mortgages interest they pay. The government takes away a tax credit then that person will pay more in taxes. The same is true here, the government takes away these tax credits from the oil companies and they will pay more in taxes. But here is the problem with that, COMPANIES DO NOT PAY TAXES! Rather they collect taxes, Whatever amount in extra tax the oil companies pay will be, as is the case with all taxes levied against any and all businesses, they will be calculated up and passed on to the consumer in HIGHER GAS PRICES.

I know there are folks who what to make the oil companies out to be some sort of boogieman making billions off our backs by continually raising gas prices/ However, as is most of what we get fed by the liberal media, it's a fantasy. The oil companies do not even set oil prices. Nor did the oil companies had nothing to do with destroying the value of the US dollar, the currency the world uses to trade in oil. It's simple math. If you trade in something with a currency and that currency loses HALF it's value, then that product is going to cost twice as much. What is so damn hard to understand about this?

0

Share this post


Link to post
Share on other sites

The Republicans lost the presidency because of gas prices and the economy, so I would understand it if the Dems got voted out for the same reasons

0

Share this post


Link to post
Share on other sites

Oil companies get tax credits, just like regular folks get a tax credit on things like mortgages interest they pay. The government takes away a tax credit then that person will pay more in taxes. The same is true here, the government takes away these tax credits from the oil companies and they will pay more in taxes. But here is the problem with that, COMPANIES DO NOT PAY TAXES! Rather they collect taxes, Whatever amount in extra tax the oil companies pay will be, as is the case with all taxes levied against any and all businesses, they will be calculated up and passed on to the consumer in HIGHER GAS PRICES.

I know there are folks who what to make the oil companies out to be some sort of boogieman making billions off our backs by continually raising gas prices/ However, as is most of what we get fed by the liberal media, it's a fantasy. The oil companies do not even set oil prices. Nor did the oil companies had nothing to do with destroying the value of the US dollar, the currency the world uses to trade in oil. It's simple math. If you trade in something with a currency and that currency loses HALF it's value, then that product is going to cost twice as much. What is so damn hard to understand about this?

Grover Norquist is the Godfather Guru of taxes for the Republican Party. If you remember, he is the one who goes about making people sign a pledge to not raise taxes. He stated (grudgingly) that dropping tax benefits for oil companies is not the equivalent of raising taxes on them. Being as how he is the one the Republicans go to about issues like this, that is why I posted what I did.

Spare me the lecture about currency devaluation, please. As you know, I am one of the monetary hawks on here.

I would be in favor of converting our vehicles to natural gas, of which there is a surplus and it is selling for $0.69 a gallon.

Fwiw, I don't watch any US media except when I have to for debates. I prefer BBC World News and BBC America.

There is no liberal and conservative media in the US. If you live outside of this country for a while, you notice there are Centrist stations that lean left generally like NBC and that bunch, and then there are stations like Fox who are just plain Rightist.

0

Share this post


Link to post
Share on other sites

Spare me the lecture about currency devaluation, please. As you know, I am one of the monetary hawks on here.

I would be in favor of converting our vehicles to natural gas, of which there is a surplus and it is selling for $0.69 a gallon.

But currency devaluation has been one of, if not the, main contributing factor in driving up the cost of oil and thus gas at the pump. Since that's the main factor in high oil prices the person, or persons, responsible for this devaluation are likewise responsible for this as well. From what I can see few if any are talking about the role currency devaluation has played in all this. The main reason nobody is talking about it is due to the fact the media are not doing their job at informing the public. They are doing this in order to cover up the fact that the Obama presidency is an even bigger unmitigated disaster than people realize.

1

Share this post


Link to post
Share on other sites

I'm all for eliminating deductions, exemptions and credits everywhere. The tax code needs to be simpler not more complex....

2

Share this post


Link to post
Share on other sites

But currency devaluation has been one of, if not the, main contributing factor in driving up the cost of oil and thus gas at the pump. Since that's the main factor in high oil prices the person, or persons, responsible for this devaluation are likewise responsible for this as well. From what I can see few if any are talking about the role currency devaluation has played in all this. The main reason nobody is talking about it is due to the fact the media are not doing their job at informing the public. They are doing this in order to cover up the fact that the Obama presidency is an even bigger unmitigated disaster than people realize.

I know man. :)

In my first post in this thread, I specifically stated: "But yes Vader, you are right; Obama and Bush 43 destroying our currency is a the main reason why prices are so high. The $ isn't worth s--te."

Ron Paul has brought this up numerous times both while in office and on the campaign trail as well as at the debates. But of course, he's always called "crazy old Ronnie" and the ilk, so no one pays him any attention. But by god, I bet they are paying attention now. $3.80 per gallon......

1

Share this post


Link to post
Share on other sites

Repealing the tax breaks given to oil companies would do nothing as they wouldn't want to see a cut in their profits so they would just end up raising gas prices to even it out.

If a company loses a source of income, they aren't going to simply just keep selling things the way they are. Changes will be made. In this case, higher gas prices.. It does nothing really.

Personally I'd like to see the U.S. tap our own oil lines and our reserves to counteract gas prices and cause the people selling us oil to drop the prices to remain competitive and making money. Supposedly we harvest more oil here in the U.S. than we consume.... so why are we so dependent on foreign oil then? Makes zero sense.

0

Share this post


Link to post
Share on other sites

Obama came out and made his speech this morning how American oil companies don't need their tax breaks anymore because they are making too much profit. He also pushed 'green energy' again, which is yet to make a jet take off (has anyone seen that with anything besides a fuel made from oil)

1st problem I have is.....they are private owned companies producing and selling a commodity. The Govt shouldn't be able to interfere because of profits, sure if they are doing something illegal, then by all means, step in and correct the situation.

2nd problem is that prices would go up at the pump even higher if the oil companies lost their tax breaks.

To me it was funny when a few hours after his announcement that the democratic lead Senate vetoed the bill. Nice to see the democrats shrugging off Obama.

post-14219-0-73867000-1333074447.png

This post is complete BS. It was the GOP, not the Dems, that killed this. Here are 2 links and a video, but I could post 50. They had a graph that showed those voting against the subsidies received about $5 million in Big Oil and those voting to keep them received about $23 million.

Sorry charlie, its mostly the GOP talking out both sides of their mouths here. They're the ones that want to keep your tax dollars going to Big Oil so they can keep their pockets full on donations.

Even George W. said we don't need to be giving Big Oil 20 Billion when he was president. Get the story right next time.

http://online.wsj.com/article/SB10001424052702303404704577311872842454412.html

http://www.cbsnews.com/8301-505266_162-57406930/gop-blocks-obamas-bid-to-end-oil-subsidies/

http://www.msnbc.msn.com/id/26315908/ns/msnbc_tv-rachel_maddow_show/#46900059

0

Share this post


Link to post
Share on other sites

More than 70% of the crude refined here in Texas is put back on a Tanker and shipped out of the country not just as gasoline but also as Diesel, Jet Fuel, Kerosene, Heating Oil, Motor Oils and other petro chemical products.

The Citgo Refinery here in Houston is owned by the Venezuela Government ran by Hugo Chavez who hates America. Which is why you should never buy Citgo gasoline and heating oil. Their company spokesman is Joe Kennedy and a bunch of back stabbing Democrats.

Al Gores family money is from the majority stock ownership in Occidental Petroleum, while the dumbasz was selling off setting carbon credits to even dumber Americans, he is getting rich off of Petro.

Not surprised the Dems spanked Obama on the the Oil Company subsidy at all.

The gas that is sold in Mexico is gas made right here in America but it is 2.96 a gallon=$10 liter(3.79 gallons)

Yes the Govt. of Mexico controls the price of gas, so they control how much money the oil companies make.

In Kuwait and Saudi Arabia the price is about 19 cents a gallon.

Obama has said before that he wanted Oil prices to go up so people would invest in green energy and get off of oil. The higher the fuel prices the more people invest in alternatives. The more the oil goes up in price the more money they make because they are all invested in oil and gas companies.

Obama is a dumbass, with no energy policy just like Bush he is making rich people and oil companies richer.

0

Share this post


Link to post
Share on other sites

  • Posts

    • PuddingTime
      It does seem like Jones is good at getting his teams to improve over the course of each season. 
    • Booger
      heeeyy... that was an auburn fan... funny to watch nonetheless. Pretty sure the tree will be fine.   "Wiest was developed as a suspect and immediately taken into custody while still in the area on an unrelated charge of public intoxication," according to a press release from Auburn police. "Further investigation resulted in Wiest being identified as the individual responsible for setting the fire and a warrant was obtained for his arrest. He was arrested while incarcerated in the Lee County jail on the prior charge and his bond was set at $1000." Looks like the dude was on a drunken rampage. http://www.al.com/auburnfootball/index.ssf/2016/09/oak_tree_at_toomers_corner_set.html
    • JoeGator
      UT had a lot of dropped balls yesterday and still beat our asses anyway. 
    • Tider27
      Yeah I wouldn't be too confident on that, it's still a rivalry and you know how those go. If Georgia's WRs can actually catch a ball, they'll have more scores. Eason put it on them consistently.
    • TheRealBrave
      If you want to laugh look at our 2013 class, it's largely why we have been terrible for 2 years. It was a bad class with laughable attrition. Richt recruited way too many reaches/projects at OL and whiffed on all the good instate receivers outside of MM/TGod.   UGA is very lacking at OL/WR/DB, and lacks depth at DL/LB/OL. Obviously our kicking game is the pits, we literally cannot make 30 yard field goals
  • Popular Contributors

    1. 1
      JoeGator
      JoeGator
      63
    2. 2
      PuddingTime
      PuddingTime
      55
    3. 3
      possumslayer
      possumslayer
      54
    4. 4
      bbqit
      bbqit
      53
    5. 5
      RammaJamma
      RammaJamma
      50