Tax payer funded subsidies for....oil companies.

[Chocaholic]

"The Congressional Budget Office (CBO) estimates that Title I would repeal about $7.7 billion in oil and gas tax subsidies over the 10-year period from 2008 through 2017. In House floor debate, opponents argued that the cut in oil and natural gas subsidies would dampen production, cause job losses, and lead to higher prices for gasoline and other fuels. Proponents counterargued that record profits show that the oil and natural gas subsidies were not needed."


With rampant healthcare cuts, our blossoming deficit, the cost of our activity in Iraq, Social Security and Medicare pressure, does it seem logical that we're still providing government subsidies to the gas and oil industry? Do you think those dollars could be put to better use? Are subsidies to oil companies a wise use of tax revenue?

[Cdnone1]

How about we put those dollars to better use by leaving them in our our own pockets?
Steve

[sammyg2]

These subsities were introduced to ALL businesses at the time in an attept to stimulate investments and create jobs. The oil companies participated in them along with many other companies.
They signed leases that allowed for drilling in very expensive deep offshore areas where at that time it was not cost effective.
Now the government wants to take away what they promised, jones on the leases they signed, sure. That's fair.

[sammyg2]

Here's something I find amusing. Everyone remember the movie with Tom Cruz and Jack? I didn't write it, I found it in an e-mail and don't know who the author is. Wish it was me.

Big Oil: You want answers?
Kaffee: I think I'm entitled to them.
Big Oil: You want answers?
Kaffee: I want the truth!
Big Oil: You can't handle the truth!
Son, we live in a world of petroleum products and those products have to be produced in increasing amounts to keep our economy alive. What are you gonna do it with? Corn ethanol? I have a greater responsibility than you can possibly fathom as the acknowledgement of not enough gassoline will itself have grave consequences for the world economy. You weep at the gas prices and you curse the Oil Companies. You have that luxury. You have the luxury of not knowing what I know: that gas prices though higher than before are still cheap. And Valero's existence, while grotesque and incomprehensible to you, produces 12 million barrels of gasoline a day for you NASCAR morons. You don't want the truth. Because deep down, in places you don't talk about at parties, you want me producing all I can. You need me producing all I can so that your American Idol obsessed culture can be spared the truth for as long as possible. You want it so bad it hurts.

We use words like oil, rigs, refinery...we use these words as the backbone to the American life you have got used to living. You use 'em as a punchline. I have neither the time nor the inclination to explain myself to a man who consumes petroleum products 24/7 and uses those very products to protest against oil companies! I'd rather you just said thank you and went on your way. Otherwise, I suggest you pick up a shovel, dig yourself an oil well and build a refinery in your bathtub. Either way, I don't give a damn what you think you're entitled to!

Kaffee: Are you making lots of money?
Big oil: We are doing the job you want us to!
Kaffee: Are you making lots of money?
Big oil: You're goddamn right we are!

[turbo6bar]

While I do not believe oil companies need the subsidies, $7.7 billion over 10 years is peanuts. If you refunded 275 million Americans this subsidy, it would be roughly $2.50 per year, or $10 per year for a family of four.

[Chocaholic]

I think it's the principal of the thing, more than the money. So many families (non-Porsche owning) have been severely pinched by gas prices. It's hard to imagine them feeling good about their tax dollars going to subsidize oil.

Sure the 7+ billion is less than the take home pay of one oil company for 3 months of work. It just seems like salt in the wound to families that can't afford health insurance, in part, because of gas prices.

[ChrisBennet]

Does the record taxes that the government is collecting on gas sales bother anyone as much as the oil companies making 10% profit?
-Chris

[cool_chick]

I don't support welfare.

[Chocaholic]

Amen.

[Bary Mukalkiner]

Originally posted by Cdnone1
How about we put those dollars to better use by leaving them in our our own pockets?
Steve

No kidding! With most state taxes at least fifty cents, with California being sixty cents, oil companies are making thirteen cents profit per gallon of gas, who's the crook?

[hytem]

Today, jogging up the street, I passed a bunch of parked cars--maybe a dozen--outside a house where a pool party was going on. All but one of those cars was a big SUV. You want to know why gas prices are high? Well, there's you're answer. And if you don't think so, you're missing the boat. We are back to the 1970s in gas consumption with a new class of dinosaur.

[Bary Mukalkiner]

Originally posted by hytem
Today, jogging up the street, I passed a bunch of parked cars--maybe a dozen--outside a house where a pool party was going on. All but one of those cars was a big SUV. You want to know why gas prices are high? Well, there's you're answer. And if you don't think so, you're missing the boat. We are back to the 1970s in gas consumption with a new class of dinosaur.

True dat. Kinda like the bumb in the soup kitchen line complaing about what's for dinner.

[Lothar]

This government, along with the enviro-wackos want to replace gasoline (taxed from it's precursor leaving the ground to entering your gas tank) to ethanol (which is subsidized from its precursor growing in a field to it entering your gas tank).

Even then, gasoline is still less expensive at the wholesale level than ethanol and the use of gasoline does not adversely affect the cost of the food on your table, since we don't eat anything that comes from crude oil.

What are these morons smoking?

[Chocaholic]

Originally posted by Lothar
Even then, gasoline is still less expensive at the wholesale level than ethanol and the use of gasoline does not adversely affect the cost of the food on your table, since we don't eat anything that comes from crude oil.

How do you think that food gets to your grocery store, and ultimately to your table? A significant percentage of what you pay for the food on your table goes to cover fuel costs related to transportation. So, in a way, you DO eat products that come from crude oil.

[FrayAdjacent911]

Originally posted by hytem
Today, jogging up the street, I passed a bunch of parked cars--maybe a dozen--outside a house where a pool party was going on. All but one of those cars was a big SUV. You want to know why gas prices are high? Well, there's you're answer. And if you don't think so, you're missing the boat. We are back to the 1970s in gas consumption with a new class of dinosaur.

YEP.

Americans can't see further than their 5 acre hoods on their SUV. It's a little moronic when people ***** about high prices of gas, yet they drive a vehicle that gets 15mpg.

They're DEFINITELY PART of the problem. With high consumption, demand goes up, as does the price.


I'm glad I get 31mpg (highway) out of my Boxster. In fact, I'm rather impressed with it.

However, I'll be looking forward to different options in a few years. Something like the Chevrolet Volt. If GM builds it, by gawd, I'll buy one!

[Chocaholic]

Originally posted by FrayAdjacent911
YEP.

Americans can't see further than their 5 acre hoods on their SUV. It's a little moronic when people ***** about high prices of gas, yet they drive a vehicle that gets 15mpg.

They're DEFINITELY PART of the problem. With high consumption, demand goes up, as does the price.

You might want to consider the tax credit given to small businesses who use vehicles that weigh 6000 lbs or more. It's a blatant incentive to drive the worst gas pigs in existence. If I was a small business owner, I'd own one too.

[bell]

Originally posted by Bary Mukalkiner
No kidding! With most state taxes at least fifty cents, with California being sixty cents, oil companies are making thirteen cents profit per gallon of gas, who's the crook?

saw a local reporter talking about this......i believe the taxes on fuel collected by the government is higher though as gas get's taxed more than once......from the refinery to the distributer, then again at the station where you buy it.

they need more than one way to pay for multiple wars......

[Racerbvd]

Originally posted by Chocaholic
You might want to consider the tax credit given to small businesses who use vehicles that weigh 6000 lbs or more. It's a blatant incentive to drive the worst gas pigs in existence. If I was a small business owner, I'd own one too.

Well, in some of our business, we need large vehicles, so don't fuch with our tax credits!!!

[Lothar]

Originally posted by Chocaholic
How do you think that food gets to your grocery store, and ultimately to your table? A significant percentage of what you pay for the food on your table goes to cover fuel costs related to transportation. So, in a way, you DO eat products that come from crude oil.

Your point is irrelevant because our food will have to be transported regardless of what fuel is crammed down our throats.

If ethanol or bio-diesel are no less costly than gasoline and diesel from crude, the difference is the same.

However, if you start subsidizing ethanol production and suck corn out of the market for that purpose, the cost of all corn based foods will increase as a result of simple supply and demand.

And then, you will still have to ship it to your store.

So, NO, I don't eat food that is "made" from crude oil. I do eat food made from corn.

[Chocaholic]

I'm thinking you missed my point. Oh well...