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Should government take more profits from oil companies?
Yes they should 33%  33%  [ 3 ]
No, I think the current taking of 5X the profit is enough 22%  22%  [ 2 ]
Yes, and they should take all the profits 33%  33%  [ 3 ]
No, they should not be taking anything from oil companies 11%  11%  [ 1 ]
Total votes: 9
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PostPosted: Feb 7 2007 11:55 am 
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Just wondering what you guys think.. Though I think I know the answer already. Who know maybe I'll be wrong.


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PostPosted: Feb 7 2007 05:21 pm 
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According to NBC news .. Exxon profits about 9.5 cents per gallon (cpg)
Now The Federal Gas Tax is 18.4 cents per gallon
State of florida well heres where it gets complicated, but to sum it up an average of 52.9 cents per gallon to 45 cents per gallon

Exxon: 9.5 cpg
State & Federal tax: 71.3 - 63.4 cpg, with a mean of 67.35 cpg
estimated actual cost of a $2.18 gallon of gas: $1.41 per gallon

So lets say the average driver uses 10 gallons of gas a week for a year at average cost of 2.18 a gallon. Using the numbers above...

Total spent on gas for a year : $1133.60
Actual cost of operations: $733.20
Exxon's profit: $49.50
State and Federal taxes: $350.22

Current government makes 700% what Exxon actually makes on a gallon of gas

For the sake of argument lets say all of Exxon's 9.8 billion is all from gasoline. That means the State and Federal government made a 68.6 billon dollar profit just from Exxon.

And you people call Big Oil evil.. time to rethink that


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PostPosted: Feb 7 2007 06:53 pm 
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take the profits and put it towards healthcare :wink:

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PostPosted: Feb 7 2007 08:33 pm 
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Quote:
take the profits and put it towards healthcare :wink:
:lol: If im not mistaken healthcare is already the biggest part of the federal budget.. I think the number was 34% beating out defense at 27%. Been a while since I looked at those numbers.


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PostPosted: Feb 8 2007 10:36 pm 
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i think when oil prices sky rocket we get soem sort of oil insurance that keeps us paying the same price even when oil hits 100.00 a barrell. the oil co's can eat it for a change.

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PostPosted: Feb 9 2007 12:12 pm 
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I like the idea of the oil compmaines take'n a hit when times are tuff just like any other bizz but I dont want the gov to start demanding more portions of profits.....serioulsy what the fuck are they going to do with it besides piss in the wind

When a compnay makes huge dollars the gov has to figure out a way to take it. fucking sad man


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PostPosted: Feb 10 2007 09:27 am 
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Vestax
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Pez, always spinning, dont you ever get dizzy? I notice that you left out Exxon's record breaking profits this year on top of the Govt. giving them ( yet again ) another 12.5 billion dollar tax break. Once you include real numbers in your propaganda, you might be able to come up with a real answer to your question.

Moving on....

* This fall, Congress gave the Pentagon an extra $1 billion for research and development of "Star Wars" on top of the year's $3.5 billion request, even though the director of the Pentagon's ballistic missile defense program said, "There really is nothing we can do with that money we haven't already addressed." Yet it cut almost half a billion dollars from the Social Services Block Grant that provides states with money for daycare, meals for low income seniors, foster care, and drug prevention.

* In the past four years, Congress has given the Pentagon almost $30 billion more than it has asked for, while cutting back on or substantially under-funding job training, environmental, housing and health programs.

* In 1980, at the height of the Cold War, the U.S. spent two dollars on the Pentagon for every dollar it spent on aid to cities. Today, almost a decade after the end of the Cold War, the Pentagon gets four dollars for every dollar we spend on aid to cities.

* Commitments to programs other than the Pentagon will be threatened even more when the federal budget is released beginning this winter, as the Pentagon is expected to ask for $110 billion more in each of the next six years.

Half to the Pentagon, Half to Everyone Else.


I found this article a great read Pez and its "Thomas Paines corner".

http://civillibertarian.blogspot.com/20 ... nding.html

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PostPosted: Feb 10 2007 02:51 pm 
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Quote:
Pez, always spinning, dont you ever get dizzy? I notice that you left out Exxon's record breaking profits this year on top of the Govt. giving them ( yet again ) another 12.5 billion dollar tax break. Once you include real numbers in your propaganda, you might be able to come up with a real answer to your question.
Ok using same argument but with the total years profit of 39.5 billion for exxon. For the sake of argument we will say that it was all from gas. Then the US Federal and State government made about 276.5 billion. Lets assume that 12.5 billion tax break is factored into the profit of Exxon. That would mean Exxon really only made 27 billion on its own. While the government still made 264 billion. Giving them a 4.5% tax break isn't so bad when the government makes 700% more profit than the company that actually provides the service.

Since your looking to move goal posts hell since your even changing the sport heres something a bit more solid. For your straw man argument
Quote:
2007 federal budget
$586.1 billion - Social Security
$466.0 billion - Defense
$394.5 billion - Medicare
$367.0 billion - Unemployment and welfare
$276.4 billion - Medicaid and other health related
$243.7 billion - Interest on debt
$89.9 billion - Education and training
$76.9 billion - Transportation
$72.6 billion - Veterans' benefits
$43.5 billion - Administration of justice
$33.1 billion - Natural resources and environment
$32.5 billion - Foreign affairs
$27.0 billion - Agriculture
$26.8 billion - Community and regional development
$25.0 billion - Science and technology
$20.1 billion - General government
$1.1 billion - Energy
Medicaid and Medicare are obviously Healthcare spending, others could be argued but not much to argue with these two. So we will use just those against Defense and for measure throw in Veteran's Benefits as our Military spending.

Military = 538.6 billion or 20% of Federal Budget
Healthcare = 670.9 billion or 24% of Federal Budget

Hell even Social Security comes in above military at 21%. Unemployment and Welfare is not horribly behind at 13%

Take your straw man argument some where else. Oh and nice find on that BLOGSPOT article.. :roll:


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PostPosted: Feb 12 2007 08:34 am 
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Vestax
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Dear Pez,


Just wanted to drop you a line to let you know that we all miss you here in realityland. Ever since you stopped figuring in the cost of the Iraq war ( per year ) and the billions wasted/lost for "reconstruction" due to the destruction of Iraq based on the war, things just havent been the same. I mean, nobody blames you for not mentioning military grants for foriegn governments ( ah , my tax dollars going to to buy arms for other nations, lovin it! ) which DO NOT include the 30 billion we spend on research and development ( star wars anyone? ). Of the active conflicts in 2005, the United States supplied arms or military technology to parties in more than 92% of them --39 out of 42. In over one-third of these conflicts - 18 out of 42 - the United States provided from 10% to 90% of the arms imported by one side of the dispute.

Between 1986 and 1995 the United States delivered $42 billion worth of armaments to parties in 45 ongoing conflicts. Spreadin that democracy!

U.S. arms or U.S. military technology were used by adversaries confronting U.S. soldiers in Panama, Iraq, Somalia, and Haiti. A significant portion of the $6 billion in covert U.S. arms and training sent to Afghan rebel groups in the 1980s was funneled to right-wing Islamic fundamentalist forces that now use these resources to attack U.S. allies and citizens. And now Ollie North has his own T.V. show! Only in American can a man lie under oath, get busted on it, spend no time in prison, help deliver arms that are currently being used to kill U.S. soldiers and get his own T.V. show on top of the deal.

But oh well, lets not lose the topic, we miss you Pez.


-Matt

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PostPosted: Feb 12 2007 10:51 am 
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If pez were an official source of information I could understand your contempt matt...but he’s not so it seems like your being a douchbag to me.
He's starting debates and conversations with what information he has and I think it’s a good thing. You should follow suite and not try and seem so condescending. After all your no expert either my friend...knowledgeable maybe but expert not in the slightest.

Have a good day.

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PostPosted: Feb 12 2007 12:36 pm 
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Matt, tell me what that has to do with US federal and state government taking more than the current 700% of Exxon profits on gas.


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PostPosted: Feb 12 2007 05:29 pm 
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Technics
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Your estimates of 700% are a little on the high side pez but close enough for argument. What most people seem to forget about Exxon's "Profits" is that they do more than just gasoline. Those profits don't come from gasoline alone. They come from the whole barrel of oil. 1 barrel of oil is 42 gallons, of which they get an average of 19.7 gal of refinded gasoline out of that barrel, the rest is produce of diesel, kerosene, plastics resins and other like petromlem based products. Exxon has it's own drilling rigs, oil refineries and transportation. Exxon-Mobil makes money at every step of the process because they take the oil out of the ground, refine it and sell it. Exxon-Mobil's profit is estimated at a hefty 29 percent. And seeing that the government gets more than their fair share, they bless these companies with huge welfare checks.......I mean tax breaks.

As far as dipping into these profits, I think would be wrong but it does need to be regulated and yes there is difference.


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PostPosted: Feb 12 2007 07:44 pm 
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Quote:
Your estimates of 700% are a little on the high side pez but close enough for argument. What most people seem to forget about Exxon's "Profits" is that they do more than just gasoline. Those profits don't come from gasoline alone. They come from the whole barrel of oil. 1 barrel of oil is 42 gallons, of which they get an average of 19.7 gal of refinded gasoline out of that barrel, the rest is produce of diesel, kerosene, plastics resins and other like petromlem based products. Exxon has it's own drilling rigs, oil refineries and transportation. Exxon-Mobil makes money at every step of the process because they take the oil out of the ground, refine it and sell it. Exxon-Mobil's profit is estimated at a hefty 29 percent. And seeing that the government gets more than their fair share, they bless these companies with huge welfare checks.......I mean tax breaks.

As far as dipping into these profits, I think would be wrong but it does need to be regulated and yes there is difference.
Regulation with reason is fine so far as it serves a needed purpose.
Also I'm glad someone finally picked up on the opening I left. Your right their profits don't come from just gasoline, nor do they come from just oil.

However the estimate is not really on the high side when it comes to gasoline. Unless NBC low balled the actual profit per gallon for Exxon but considering they were attacking them, I doubt that is the case. The federal tax on a gallon is fixed, and state of florida tax is a range, I used right in the middle of that range for the arguement.

I dont see a reason for giving them a tax break, but attacking a companies profit excessively will only lead to damaging the company long term or even that companies exit from the market. See Exxon's response to Venzuela.


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PostPosted: Feb 12 2007 09:07 pm 
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Technics
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Therein lies the problem with regulating a product like petroleum. Leaving the idiots in Washington to abide by the rules they set themselves. The lawmakers will take a good idea and produce corruption..........as usual.


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PostPosted: Feb 13 2007 11:02 am 
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Ortofon
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Quote:
Therein lies the problem with regulating a product like petroleum. Leaving the idiots in Washington to abide by the rules they set themselves. The lawmakers will take a good idea and produce corruption..........as usual.
It's Hilary's wet dream really. Who says you can't learn anything from Dubya.


Hooray for facism!

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