$4.15 a Gallon. Thank Goodness for Exxon!

[random3434]

Apparently some of the loons on here are having a nervous breakdown over this thread!



New reputation!
Hi, you have received -23 reputation points from Liberty.
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Comment:
ignorance at it\'s finest

Regards,
Liberty


___________

Thanks con, those -23 points hurt me where it really counts!


It's just another tax break for Big Business, don't get all hysterical on us now!

You might want to look into not making threads where you don't know what the **** you're talking about then, huh?

You forgot to yell out

BOOOOOOOOOOOOOOOSH!

 

[Trajan]

Apparently some of the loons on here are having a nervous breakdown over this thread!



New reputation!
Hi, you have received -23 reputation points from Liberty.
Reputation was given for this post.

Comment:
ignorance at it\'s finest

Regards,
Liberty


___________

Thanks con, those -23 points hurt me where it really counts!


It's just another tax break for Big Business, don't get all hysterical on us now!

You might want to look into not making threads where you don't know what the **** you're talking about then, huh?

dude, take a lap around the chill pool....

 

[Avorysuds]

Apparently some of the loons on here are having a nervous breakdown over this thread!



New reputation!
Hi, you have received -23 reputation points from Liberty.
Reputation was given for this post.

Comment:
ignorance at it\'s finest

Regards,
Liberty


___________

Thanks con, those -23 points hurt me where it really counts!


It's just another tax break for Big Business, don't get all hysterical on us now!

You might want to look into not making threads where you don't know what the **** you're talking about then, huh?

You forgot to yell out

BOOOOOOOOOOOOOOOSH!

You forgot to yel FACTS! Oh wait, your not TM you just sound like her.

 

[Avorysuds]

Apparently some of the loons on here are having a nervous breakdown over this thread!



New reputation!
Hi, you have received -23 reputation points from Liberty.
Reputation was given for this post.

Comment:
ignorance at it\'s finest

Regards,
Liberty


___________

Thanks con, those -23 points hurt me where it really counts!


It's just another tax break for Big Business, don't get all hysterical on us now!

You might want to look into not making threads where you don't know what the **** you're talking about then, huh?

dude, take a lap around the chill pool....

I am chill... This noob tried to make a ridiculous point then when called out started making dumb posts in their own thread as rebuttals...

 

[LordBrownTrout]

That was gross though wasn't it? Their profit margin is around 8 to 9 percent I believe, at least that's what it is with the ones that I'm involved with.

 

[edthecynic]

hey, I drive 120 miles a day, I don't relish the thought of $4.40 regular ......but pulling exxons tax breaks will cost us more, they will pass it on.

how about a federal or state tax moratorium on gas? oh wait they have screwed up the fisc so bad they need every dime they can get.

So market forces do not control the prices, the oil monopoly can simply charge anything they they want.

 

[Trajan]

hey, I drive 120 miles a day, I don't relish the thought of $4.40 regular ......but pulling exxons tax breaks will cost us more, they will pass it on.

how about a federal or state tax moratorium on gas? oh wait they have screwed up the fisc so bad they need every dime they can get.

So market forces do not control the prices, the oil monopoly can simply charge anything they they want.

what they will do is charge more to take the place of the write offs for say, capital expense deprecation they will no longer have.......if it takes more from the bottom line, to pull it out of the ground and get it to us, they will get it from somewhere.

 

[Mr. H.]

Exxon will be getting all of my business for SURE now!

ThinkProgress » Exxon Makes $30.5 Billion, So GOP Votes Unanimously To Give Them Tax Breaks

In typical lib fashion, the article never gives any specifics about what the bill actually does. Instead, it offers all kinds of value judgements completely unsupported by any facts.

In percentage terms, Exxon's profits are not that spectacular.

Your article is a hatchet job, just like all leftwing journalism.

Got Gas?

We all have gas, thanks to Exxon and the other major/independent petroleum companies.

What's more valuable, all the $4 gasoline you'd care to purchase or no gasoline at any price?

 

[The T]

That was gross though wasn't it? Their profit margin is around 8 to 9 percent I believe, at least that's what it is with the ones that I'm involved with.

First? Whom is making money on OIL?

Speaks for itself...

 

[JBeukema]

Exxon will be getting all of my business for SURE now!

ThinkProgress » Exxon Makes $30.5 Billion, So GOP Votes Unanimously To Give Them Tax Breaks

You got a problem with capitalism?

I never knew you were a socialist

 

[Flopper]

We've had this conversation before.

They paid approximately 40% of their operating income in income taxes around the world.

And that doesn't count the excise taxes glommed on at the pump. Government taxes on a gallon of gas are higher than Exxon's profit margin.

The point is we should not be giving oil companies tax breaks that are not available to other businesses, both small and large in the US. For example, oil companies can deduct from their taxes up to 22% of the of the value oil pumped from their wells as a depletion allowance. The depletion allowance is suppose to compensate the producer for the depletion of oil pumped from the well. A 22% rate assumes the well will go dry in less than 5 years. However the average well is good for 10 to 15 years of production. Deduction of intangible costs of operation of older well is another give away. All these special deductions for oil companies are in addition to deductions for the normal cost of doing business. It's just not fair to allow these giant multinational corporation to have these tax breaks while small businesses can only deduct their operating expenses.

They can also get a credit for all foreign taxes paid.

 

[JBeukema]

Hi, you have received -156 reputation points from The T.
Reputation was given for this post.

Comment:
Fuckin\' *IDIOT*

Regards,
The T

Note: This is an automated message.

 

[The T]

Hi, you have received -156 reputation points from The T.
Reputation was given for this post.

Comment:
Fuckin\' *IDIOT*

Regards,
The T

Note: This is an automated message.

And you ARE...care to go toe to toe? Or shall *I* show what YOU posted to me asshat?

Fuckin' jackwad.

 

[edthecynic]

That was gross though wasn't it? Their profit margin is around 8 to 9 percent I believe, at least that's what it is with the ones that I'm involved with.

First? Whom is making money on OIL?

Speaks for itself...

Actually, it speaks to the CON$ervative habit of telling only half truths leaving it to the honest person to figure out what CON$ are leaving out!!!

The oil monopoly makes profit from more than just selling the gas!!!!!!!

They make a profit from taking the oil out of the ground and selling it on the open market. They make a profit on the refining of the crude oil. They make a profit on every step in the production of the gas before they make a profit on the sale of the gas.

 

[Mr. H.]

We've had this conversation before.

They paid approximately 40% of their operating income in income taxes around the world.

And that doesn't count the excise taxes glommed on at the pump. Government taxes on a gallon of gas are higher than Exxon's profit margin.

The point is we should not be giving oil companies tax breaks that are not available to other businesses, both small and large in the US. For example, oil companies can deduct from their taxes up to 22% of the of the value oil pumped from their wells as a depletion allowance. The depletion allowance is suppose to compensate the producer for the depletion of oil pumped from the well. A 22% rate assumes the well will go dry in less than 5 years. However the average well is good for 10 to 15 years of production. Deduction of intangible costs of operation of older well is another give away. All these special deductions for oil companies are in addition to deductions for the normal cost of doing business. It's just not fair to allow these giant multinational corporation to have these tax breaks while small businesses can only deduct their operating expenses.

They can also get a credit for all foreign taxes paid.

There are nearly a half-million oil wells on artificial lift in this country. The average production is 2 barrels per day. 90% of the fluid they pump out of the ground is salt water, not oil. This fluid is pumped into a tall tank called a separator where the water settles to the bottom and the droplets of oil float to the top. This is why theyre called "stripper" wells. And it's a damned expensive process.

Percentage depletion doesn't come with a 5 year life assumption. I don't know where you get that figure. If it weren't for percentage depletion, those half million wells would not be producing today.

Percentage depletion is not afforded to the large integrated multi-nationals, only the independents.

With respect to intangible drilling costs (as I've explained in a half-dozen other threads), it's akin to a homebuilder deducting the costs of hiring an engineer or architect.

 

[Old Rocks]

The gas taxes pay for the roads that we run our cars on. And, for rural states like Oregon, there are a lot of roads Eastside that serve very few people, people whose contribution is the food that we eat. So if you wish to bellyache about taxes, don't use the roads. No one forcing you to buy either an automobile or gas for it.

 

[JBeukema]

the obvious solution is to stop using petrol for everything

The Oil Drum | Report: Brazilian Ethanol is Sustainable

Sustainable Ethanol in Sweden - Domestic Fuel

Green alternative to plastics: liquid wood - Technology & science - Innovation - Frontiers - msnbc.com

 

[Mr. H.]

the obvious solution is to stop using petrol for everything

The Oil Drum | Report: Brazilian Ethanol is Sustainable

Sustainable Ethanol in Sweden - Domestic Fuel

Green alternative to plastics: liquid wood - Technology & science - Innovation - Frontiers - msnbc.com

That day will come, eventually. In the meantime, the answer to reducing consumption is not by reducing production.

 

[JBeukema]

the obvious solution is to stop using petrol for everything

The Oil Drum | Report: Brazilian Ethanol is Sustainable

Sustainable Ethanol in Sweden - Domestic Fuel

Green alternative to plastics: liquid wood - Technology & science - Innovation - Frontiers - msnbc.com

That day will come, eventually. In the meantime, the answer to reducing consumption is not by reducing production.

[ame="http://www.amazon.com/Internal-Combustion-Corporations-Governments-Alternatives/dp/0312359071"]It is by smashing capitalism[/ame]

Some things, like our energy independence and medicine, must be protected and isolated from the profit motive.

 

[xsited1]

Exxon will be getting all of my business for SURE now!

ThinkProgress » Exxon Makes $30.5 Billion, So GOP Votes Unanimously To Give Them Tax Breaks


...

I guess the GOP is worried that eliminating these tax preferences will decrease production and raise the price at the pump. It also seems that they are defending and expanding tax breaks to remedy high taxes on oil companies. I guess I can understand their motive, but I don't like it. I'd prefer they eliminate these deductions and reduce rates. That seems far more efficient to me.

BTW, these tax provisions apply mostly to small companies, so eliminating these preferences reduces the advantage of being a small rather than a large producer. In any case, all preferences should be removed IMO.