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- - Oil profits (http://www.ironworksforum.com/forum/showthread.php?t=78802)

Morgeruat

11-02-2005 10:55 AM

http://news.yahoo.com/s/ap/20051102/...ss_oil_profits

While I'm generally opposed to programs like this one (in the link) I do think that the oil companies have been excessive in their price gouging this year, the article mentions possibly taxing oil revenues over $40 a barrel, I think they should, and they should also reinvest that money into R&D for clean energy or other alternate fuel sources.

Aerich

11-02-2005 12:21 PM

Good idea. There's no question that there has to be money coming from somewhere for R&D of new/clean energy, and it seems silly for governments to pony up when even a small tax on oil could provide a huge revenue stream.

shamrock_uk

11-02-2005 04:40 PM

I also agree, but I would take it from them. Sod the consultation - it would serve them right for having the audacity to lobby for financial assistance following Hurricane Katriona. Oil shortages are beneficial to these companies, dramatically increasing the value of their assets and the worth of the company. They were making record profits amidst the paupering of an entire city yet claiming they need government assistance :rolleyes: They seriously need taken down a peg or two...

Ziroc

11-02-2005 10:00 PM

I was boiling when I hear that 9.9 billion profit. What would happen if the goverment regulated it? Would that help or make it worse?

Make gas prices based on inflation or something.. lock them during emergencies. Just pisses me off.

I watched The Science channel on them building a new oil rig for Kerr McGee, MAN, those suckers are huge. the base of it weighed more than the Eiffel Tower!

Timber Loftis

11-03-2005 09:45 AM

You don't need to regulate them. Just apply AntiTrust law to them, bust them up into little bits, and make them compete in a free market rather than an Oligopoli. And murder all the Saudi princes, too, to close the loop on the free market system.

Arvon

11-03-2005 02:01 PM

One point. The profits on a single gallon of gas is 10c (in the US), the average taxes on a gallon of gas (all) is 47c. Who's gouging?

Timber Loftis

11-03-2005 04:19 PM

Quote:

Originally posted by Arvon:
One point. The profits on a single gallon of gas is 10c (in the US), the average taxes on a gallon of gas (all) is 47c. Who's gouging?

Absolutely. The figures I heard were roughly 30-40% of gas prices consist of taxes.

Arvon

11-03-2005 06:39 PM

Quote:

Originally posted by Timber Loftis:
</font><blockquote>quote:</font><hr />Originally posted by Arvon:
One point. The profits on a single gallon of gas is 10c (in the US), the average taxes on a gallon of gas (all) is 47c. Who's gouging?

Absolutely. The figures I heard were roughly 30-40% of gas prices consist of taxes. </font>[/QUOTE]The 47c is just that at the pump. There are taxes all along the way of production.

Aragorn1

11-03-2005 07:12 PM

about 80% of our fuel cost is tax

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