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The U.S. is founded on capitalism not socialism. Since when is it the government's job to "punish" and tax companies that make a profit. If we do not want to pay the price they want for gas then we need to find modes of transportation that uses less gasoline or none at all. When the demand goes down the supply goes up then the price will fall. Just as with any other item on the market. True economics.
Back in the day of Carter, they put a "windfall profits tax" on oil companies. It brought in 5 times revenue than they projected, curtailed domestic oil production, and kept prices artifically inflated.
We have done this to ourselvs, but we demand that someone else be blamed for our actions. How could this possibly be my fault, I am perfect. Nothing will change until we get over ourselvs and each one of us make the necessary changes to live in our new world of high energy prices. The party is over, our lives have changed forever and it is never going back, figure out how to live with it.
Whoops,My post should have said 5 times less revenue....
Put a tax on gasoline so that it is $8 a gallon. That money could be returned in reduced payroll taxes to the people. This would encourage conservation and alternative forms of energy.
No, but I'd prefer to see their subsidies end. I certainly don't like the idea of a "hey, you made more money than we expected you to so give it to us" tax.
I would support the tax on a guaranteed sale of gasoline IF the idiots in D.C. would throw all of that money at development of solar,wind,hydro and geo thermal power.
As much as I hate to pay the price for gas and diesel (own both types of vehicles), it's gonna be the only way to bring new technologies to market. One of the most obvious "new" technologies that I read an article on this morning is simply making cars lighter. The article claimed that a 10% reduction in the weight of a car would do more for fuel efficiency than the addition of a complex hybrid drivetrain.I think these sustained high fuel prices will do one thing that is long overdue. It will sever the cozy relationship between Detroit automakers and big oil. Ford is taking it in the shorts right now and Mulally is probably looking at taking steps that would have hithertofore been considered apostate. But until they make these radical changes, the market will (and should) punish them.
I'd like to see their subsidies and tax breaks end, but if a windfall tax is placed on big oil they'll just pass it along to the consumer.
How the hell is the government more deserving of a given portion of oil profits than the oil companies themselves? Would someone mind explaining that to me?
Can we punish the Fed instead of Oil companies? I vote for that. The devaluation of the dollar has more to do with high gas prices than the oil companies.
Look at it this way - how much would you be willing to pay somebody to push your car 20 miles down the road? Probably more than the $4 you paid for a gallon of gas.
Amazingly close in a town that never saw a tax it did not like.
Excess economic profit is always offset by more firms entry into the market. More firms = lower price until excess profits are gone. Construction and production facilities for energy production are controled by the government and they have not issued permits for new facilities in 30 years.The government has closed the market, and that is what we have. Energy prices will do what they do and that cannot be changed unless the government gets out of the energy business.
OK, so we subsidize the oil companies, then when they bring in their inordinate profits, we collect those subsidies back in the form of a 'windfall tax?' It just seems to me like the oil companies could do the American economy a favor by lowering their prices. Heck, they might only make as much money as they did in 2005, which was still a record profit year. Oil will be the ruin of us if we don't wean ourselves from it or figure out how to be more efficient with it. But no, we have to talk about a 'gas tax holiday' where the government relieves its taxation for a day. To be honest, I'm surprised we haven't seen the 21st century equivalent of anti-trust lawsuits yet. I know that this is a little different, but hey, it's still a captive market.Alright, now you can rail against my post.
Oil is a commodity; don't blame the oil companies. We need some long-term attention to the petro problem, something we were warned about in the 1970's. It's time to suck it up and get real. More taxes on oil (unless they are used to fund the "war" in Iraq) are pointless.
While the USA oil cartel is a major contributor so are consumers.When figuring the war and military security for pipelines it is estimated americans are actually $14-$21 per gallon of gasoline:.more than any other portion of the world.The largest contributor to increased gasoline prices is all americans who continue to buy no matter the cost.All americans who honestly believe the USA government can dictate the cost of doing business with oil suppliers Americans who refuse to walk,bike or use public transportation when in fact that is smart dollars and sense.Americans who refuse to drive fuel efficient automobilesAmericans who believe oil products do not pollute in order to justify their desire to drive gas hogs. This is called denial.Americans who say I can afford gasoline no matter what. That my friends drives inflated pricing which screws everyone and makes zero dollars and sense .All who refuse to make that very very tough decision of relocating closer to employment. The current housing market may be a best opportunity.Wars for oil contol are not free!All americans who believe it's okay for soldiers to die or become permanently disabled so long as it is not them or their children all for oil.Yes folks it is us screwing up our own cost of living instead demanding an end to all of the madness stated above. Instead we believe politicians!
Do "obscene profits" include all the millions that Gore, the Clintons, Edwards, Bush, and probably most of Congress have made off hedge funds? Hedge funds typically return MANY times the profit margin that the oil companies are showing. Where is the outrage there? What about Microsoft? Should the feds step in and take their "fair" share of that business? What about the lawn mowing business down the street that doubles it's profits in a year? Should they step and stop it? Where does it stop? As far as profit margins go, oil companies don't do as well as a large host of other companies, but they sell so much product that their total profits are high. Who's fault is that? Their's or your's for continuing to pump 30 gallons of gas into your F-150? Be very careful or the next company they may come after may be yours. This is FAR too slippery a slope. We cannot let the feds have this kind of power!
RedwoodCoast (Anonymous) says: "then when they bring in their inordinate profits"The oil companies make what, about 7.5%? Just out of curiosity, what do you consider an 'ordinate' profit?*******Sigmund (Anonymous) says: "Exactly how is an added tax that is returned to those who pay the tax going to discourage anything????"Ditto.Not to mention it would seem like questionable fiscal policy to fund the government with a source of revenue specifically designed to cause its own decline.*******Marion (Marion Lynn) says: I just ran a full tank mpg test on my regular driver; a late 1980s Ford Crown Victoria with fewer than 85,000 miles.My '84 Crown Vic (302 tbi) got about 22-23 on the highway, with a trunk big enough to carry a spare small car in case you ever ran out of gas.
Marion, you are living large.It is good to see someone so satisfied with their station in life.
JHOK32 (Anonymous) says: "Please tell me the Bush's & the big oil execs are not liviing in their mansions with their servants & their limosines at the expense of our kids' lives."OK, The Bush's & the big oil execs are not living in their mansions with their servants & their limosines at the expense of our kids lives. Oil execs like Apple execs like Microfsoft execs like Sony execs are living in their mansions because they provide the world with a product that Americans, Chinese, Indians, Europeans are willing to pay large amounts of money for because it improves their lives by much more than they spend for it. And by the way, Americans pay far less for gas than does most of the rest of the world. And by the way not all oil companies are American and they make the same amount of profit. And by the way American oil companies sell for higher prices overseas. And by the way a windfall profits tax will not lower the cost of oil and gas. And by the way it was tried in the past and it failed. And by the way American oil companies are owned by millions of Americans in mutual funds and pension funds. How much Exxon Mobile, Chevron, Total, Conoco Phillips, Citgo is owned in your pension plan?
Sure there should be a windfall tax on Big oil, just like the Earned income Credit should be abolished. Big oil employs people both in the US and abroad.With China and India becoming more industrialized, this is a big factor of the demand going up.
Ok..there are lot of ideas to get the future cost of gas down..but what about right now?? How about this: A NATIONAL 4 DAY 10 HOUR A DAY WORK WEEK WHEREVER IT CAN BE DONE. A SECURE SYSTEM FOR SIGNING UP FOR CAR POOLING ON THOSE WORK DAYS..4 OR 5 DAYS..WHATEVER. WEBSITES TO HELP PLAN THOSE CAR POOL GROUPS. SECURE SO OTHER CAR POOLERS CAN BE CALLED TO VERIFY SAFETY OF THE GROUP (DON'T NEED TO PUT ANYONE IN DANGER HERE). THIS SHOULD REDUCE THE COST OF TRANSPORTATION TO WORK SIGNIFICANTLY WHILE WE SORT OUT THE OTHER PROBLEMS RELATED TO THE COST OF GASOLINE...AND REDUCE THE OVERALL USAGE OF FUEL. PEOPLE HAVE BOUGHT LARGE SUV'S THEY CAN'T SELL AND HOMES (WITH LONG COMMUTES TO WORK) THEY CAN'T SELL AND NOW ARE TRAPPED BY THIS 2 YEAR SPECULATORS RISE IN OIL PRICES. WE NEED TO TAKE PRACTICAL ACTION NOW!
What bothers me the most is the thought that our kids are dying in the desert all in the name of big oil profits. This is "blood money" in the sickest sense. Please tell me the Bush's & the big oil execs are not liviing in their mansions with their servants & their limosines at the expense of our kids' lives. Please tell me the vets with no legs are paying for our big oil profits.
cool (Anonymous) says: "and we should tax them if they don't quit allowing so much water & other stuff in the fuel that messes up our fuel injectors."Quit buying your gas wherever you are buying it. Virtually every car today has fuel injection and my car has over 100,000 and has never had a problem. My guess is you are using E85, if you are stop. Not only are you starving the third world but you are ruining your engine (especially if there is water in your gas)."Unfortunately, ethanol raises several serious problems that range from phase separation (ethanol bonds to water and the mixture falls to the bottom of the tank as a separate layer where it can find its way into the engine) to the sudden release of sludge build-up (which results in clogged filters and injectors)."http://www.the-triton.com/megayachtnews/index.php?news=1749
deskboy04 (Anonymous) says: "Put a tax on gasoline so that it is $8 a gallon. That money could be returned in reduced payroll taxes to the people. This would encourage conservation and alternative forms of energy."Exactly how is an added tax that is returned to those who pay the tax going to discourage anything????
deskboy04 are you sniffin gasoline? The govt takes they don't give back.
Tax them to death reduce oil prices or we should make war and we should take it from them instead of paying these outrageous prices.
j40boy22- seriously? Oil prices have gone up for several reasons, but US oil companies don't contribute to any of them. Demand has remained robust, with substantial increases in demand from the BRIC countries. Because of GOVERNMENT INTERVENTION in Russia and Venezuela (they kicked US oil companies out) Russia and Venezuela have had problems ramping up capacity. The Economist just ran an article about the Russian oil fields.The main point is that ExxonMobil, BP, Shell, and other multi-national oil companies help keep oil prices DOWN. They keep exploring for new fields, developing the technology to reach deep oil deposits, and pump as much oil as possible. Socialist governments are CAUSING the shortage, not eliminating it. China subsidizes oil, which contributes to over-consumption, for example.
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