Why Gas Prices Are Out of Any President’s Control

FredHayek wrote:

Something the Dog Said wrote:

FredHayek wrote:

Something the Dog Said wrote: Then why don't they show the love, instead of opposing efforts to utilize natural gas which is in great supply?

http://thehill.com/blogs/e2-wire/e2-wir ... -prospects

There is a difference between supporting something and handing out more tax credits when we have record debt.

Then why are we subsidizing the oil companies with billions of dollars in tax breaks? Particularly when they are making record profits?

They are making record profits only in the amount of money. As a percentage of income there are many more industries that are doing better like Apple but the Left never bitches about them.

Psst, profits are money. I don't believe that Apple is receiving billions of dollars in taxpayer subsidies. And the record profits by those oil companies receiving corporate welfare are huge increases over past years. In relation to other industries that deal in commodities, the oil companies profits are extremely high.

States and local government still make more off that gallon of gasoline you buy than the American oil company does.

FredHayek wrote: States and local government still make more off that gallon of gasoline you buy than the American oil company does.

Which has nothing to do with the fact that a highly profitable industry continues to receive corporate welfare.

Something the Dog Said wrote:

FredHayek wrote: States and local government still make more off that gallon of gasoline you buy than the American oil company does.

Which has nothing to do with the fact that a highly profitable industry continues to receive corporate welfare.

Corporate welfare? Semantic talking points. Would you prefer the oil companies sell their equipment to enemies of the US like Iran? And make Obama's unemployment rate even higher? Oil industry jobs are high paying blue collar jobs that the Dems have been unable to deliver in the solar and wind industries, even with big subsidies.
A domestic drilling industry is as much a asset as the strategic oil reserve.

So do like the Dog and lay people off by making domestic drilling unprofitable. And make energy even more expenisve for all Americans. $7 gasoline? That will really help out Colorodo's tourist economy.

FredHayek wrote:

Something the Dog Said wrote:

FredHayek wrote: States and local government still make more off that gallon of gasoline you buy than the American oil company does.

Which has nothing to do with the fact that a highly profitable industry continues to receive corporate welfare.

Corporate welfare? Semantic talking points. Would you prefer the oil companies sell their equipment to enemies of the US like Iran? And make Obama's unemployment rate even higher? Oil industry jobs are high paying blue collar jobs that the Dems have been unable to deliver in the solar and wind industries, even with big subsidies.
A domestic drilling industry is as much a asset as the strategic oil reserve.

So do like the Dog and lay people off by making domestic drilling unprofitable. And make energy even more expenisve for all Americans. $7 gasoline? That will really help out Colorodo's tourist economy.

Wow, clear example of the dangers of posting while drinking. Why would the oil companies sell their equipment to Iran, which would be quite illegal by the way. So the only way the record profits by the oil companies are due to the taxpayer subsidies? The taxpayers have to subsidize those record profits, or those poor oil companies will not be able to stay in business? wow!

Something the Dog Said wrote: Psst, profits are money. I don't believe that Apple is receiving billions of dollars in taxpayer subsidies. And the record profits by those oil companies receiving corporate welfare are huge increases over past years. In relation to other industries that deal in commodities, the oil companies profits are extremely high.

Do you know the difference between a subsidy and a tax deduction? We've already been through this here.

A subsidy is when the government gives out money, even when no taxes are due. One type of subsidy is a refundable tax credit. For individuals doing taxes, a subsidy would be something like the child tax credit or the earned income tax credit. You can get money back from the government even if you owe no taxes.

Can you let me know how oil companies get money from the government when they owe no income tax?

So far as I know, oil companies just get tax deductions. Same as Apple receives and individual tax payers do as well. Please let me know if I'm wrong. Do oil companies get more tax deductions than other successful companies? Do oil companies get more tax deductions than Apple? More than GE?

Dog you really need to move away from the talking points and examine what percentages are those record profits. About 8%. Doesn't sound very extreme to me. And same with tax credits. Should a company be rewarded for buying new capital equipment and creating new jobs? For example my company sells refineries an expensive analyzer that helps them get more gasoline out of every barrel of oil. Sounds like a worthy conservation tax credit to me. Just as much as a tax credit for home insulation or solar panels. But because you. Are blinded by the "evil oil company" term you won't consider this. BTW guess who made my solar panels? British Petroleum!

The Iran example? IF Obama makes good on his promises to take away any tax breaks for domestic droppers their equipmenvt will be sold on the world market. It could wind up anywhere. For example when Obama shut down gulf drilling those rigs went all over the world.

Something the Dog Said wrote:

lionshead2010 wrote: I honestly don't have a problem with the Administration making reasonable efforts to reduce America's dependence on fossil fuels. What I do have a problem with is the idea that the BEST way to make alternate forms of energy affordable and viable is by raising taxes on gas and diesel.

The people these taxes hurt the most are the people who can least afford to spend the extra money because they are already having a hard time making ends meet and they need the fuel to do or get to their work.

Where's the compassion?

Where is the truth? President Obama has not proposed to raise taxes on gas and diesel, and in fact has stated that he is against raising those taxes.

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In fact, the only recent politician that has raised the taxes at the pump is Mitt Romney, leader of the Republican party.

Here is the truth as I see it.

In a sign of one major internal difference, Mr. Chu has called for gradually ramping up gasoline taxes over 15 years to coax consumers into buying more-efficient cars and living in neighborhoods closer to work.

“Somehow we have to figure out how to boost the price of gasoline to the levels in Europe,” Mr. Chu, who directs the Lawrence Berkeley National Laboratory in California, said in an interview with The Wall Street Journal in September.

"Clearly, the “overall goal” for this administration is not to lower gas prices. It’s to game the system to make alternatives compete better against fossil fuels. That doesn’t necessarily mean that the administration wants a rapid rise in gas prices, but it certainly doesn’t mean that they want to see gas prices fall substantially, either — at least not until gas prices start harming Obama’s re-election chances. The alternative energy sources this administration champions can’t compete against mature energy sources, even with the billions of dollars in subsidies that Obama has poured into the industry."

Chu: Uh, never mind on that European gas prices goal

http://hotair.com/archives/2012/03/13/c ... ices-goal/

They say dreamers never lie....and the President's Energy Secretary spoke his mind back in 2008. That's how the guy really thinks...and since he is President Obama's Energy Secretary and a member of the cabinet...he speaks for the Administration. Now you can argue that he has changed his position but we both know that's because both he and the President did that for political expediency. You don't have to admit it in this forum..but when you are looking in the mirror, it's okay to be honest with yourself today.

Breaking News....................

Hillary to Saudis: Keep that oil flowing, or else! (At least until after November)

http://www.reuters.com/article/2012/04/ ... KQ20120403

U.S. Secretary of State Hillary Clinton on Saturday in Riyadh sought an assurance from Saudi King Abdullah that the kingdom would not neutralize a release of inventories by consuming countries by cutting its production.