Taxing the oil companies is not the solution to our energy disaster. The solutions are well known.
1. Drill off the coast of Florida and the East coast.
2. Drill off the coast of California and the West coast.
3. Drill in Alaska' ANWAR.
4. Build/expand refineries.
5. Build nuclear power plants.
6. Promote wind power.
7. Promote solar power.
8. Congress and some state governments are blocking all of these approaches.
9. Remove the stupid environment and NIMBY regulations that prevent advancing these approaches.
JH - 16 years ago
I was living in Eastern Africa where a large amount of U.S. oil is sourced; this project displaced local peoples, and animals, alike. Daily, we would see primates wandering across the newly-barren stretches of former wilderness. The people, sure, would find cheap employ in the newly built hotels, but with the import of foreign (non African) workers, they were similarly screwed over by "economic development" for the sake of offshore oil greed. Sure, corporations may pay taxes...but do they make up for the destruction of the earth that they cause while they ravage for more oil? People before profit, please.
Jared - 16 years ago
Thank you, Dennis and Murphy. The rest of you, apparently have no ability to think critically. You listen to Obama or whoever, and you think, yeah oil companies are evil! As stated earlier, of course they have record profits. It's called math, with a steady 10% profit margin (many, many industries make more, including pharmaceuticals who are in the upper teens), inelastic demandn for gas, and rising prices, profits will rise. There's no trickery, no gouging.
And since Reagan our country has been in steady decline? Are you completely out of your mind? Reagan inherited the "sinking ship" of Jimmy Carter's double-digit inflation, widespread recession, and high taxes, and turned it all around. Reagan's deregulation and lower taxes set up a Clinton administration to inherit an unprecedented period of growth and innovation that made the internet and cell phones what they are today. Free markets work.
JayMagoo, you are a socialist, please leave the country, now. There's no place here for you anymore, communism is a failure. If I hear that 1% statistic one more time I'm gonna shit. That 1% is filled with people who made themselves succesful, and as pointed out, pay the lion's share of YOUR taxes.
I think we must look back to Teddy Roosevelt, why is that famous Republican not a hero to the Republicans. Because he saw a serious problem and found a way to promote regulation to repair the problem. Regulation is not the answer it is about the only one we seem to have to keep things in a fair balance. When the needs of the people come after the needs of a company we are in trouble. The gas prices are a symptom of much big problems and we are too often kept in the dark, even now to find the truth requires time and research. Since Reagan our country has been in a steady decline, and now we see the results. As the strength of unions has diminished there a fewer rights and far less fair treatment of the real strength of this country - it's workers. Our freedoms are not handed to us by those in the up-class, but have fought for by those in the middle and lower classes for the entire history of this nation.
Dennis - 16 years ago
Fools. ExxonMobil ALONE pays more in taxes than the bottom 50% of US taxpayers AND they paid more in taxes than their profits. Their profit margin is a lower percentage than Microsoft. You want a windfall profits tax on Microsoft? I thought not. Government control over business has been proven to fail time and time again. Just look at our government itself. The people working for our federal government have NO incentive to outdo themselves. They can hardly be fired and do the bare minimum to justify their employment.
murphy - 16 years ago
Interesting notion. Grow the government and regulate, regulate, regulate. You’re going to regulate free will right out of people. If there is no prize (record sales and profits) why would anyone want to try to prosper? On top of that, the record profits also provide tax revenue for the government equal to the lowest 40% of the population. And that is one industry.
Finally, what is a fair profit margin for a company? Do not get that confused with just profit. So what if the oil companies are making a profit, that means they're doing what they do well, and we're purchasing it. If you don't like it, become an oil corp. yourself and do it better. Sounds like a free market to me. Build a better mousetrap.
It is clear the Republican policies have given giant oil corporations a free ride and it is a fact that the outrageous profits of oil companies is a threat to democracy. While McCain flounders about with no thought out message on the economy we are caught in an economic downward spiral courtesy of the Republicans in power.
JayMagoo - 16 years ago
There are differences, but the similarity is that this crisis arises from the Republican's fascination with deregulation. The regulations were put into effect over the years to protect the public from the greed of those who are in a position to manipulate the market. We seemed to forget that at the time that Reagan became president, the big money guys pursuaded government that they could be trusted and the "free market" would regulate itself. Well folks, it never happened that way, the Great Depression is testimony to that. And it isn't happening that way now. Let the rich and powerful operate in the marketplace without regulation, and eventually they will get everything. Capitalism works only with constant regulation to keep the greedy fat cats under control, or else they'd end up with all the wealth in the hands of a few. It's bad enough now with 40 percent of the wealth of America in the hands of 1 percent of the population. Exxon and other big oil companies have been reaping record profits while the price of gasoline is sky-rocieting. Doesn't that tell you something? Could it get worse? If the Republicans remain in control it's guaranteed to get worse. Bet on it.
Taxing the oil companies is not the solution to our energy disaster. The solutions are well known.
1. Drill off the coast of Florida and the East coast.
2. Drill off the coast of California and the West coast.
3. Drill in Alaska' ANWAR.
4. Build/expand refineries.
5. Build nuclear power plants.
6. Promote wind power.
7. Promote solar power.
8. Congress and some state governments are blocking all of these approaches.
9. Remove the stupid environment and NIMBY regulations that prevent advancing these approaches.
I was living in Eastern Africa where a large amount of U.S. oil is sourced; this project displaced local peoples, and animals, alike. Daily, we would see primates wandering across the newly-barren stretches of former wilderness. The people, sure, would find cheap employ in the newly built hotels, but with the import of foreign (non African) workers, they were similarly screwed over by "economic development" for the sake of offshore oil greed. Sure, corporations may pay taxes...but do they make up for the destruction of the earth that they cause while they ravage for more oil? People before profit, please.
Thank you, Dennis and Murphy. The rest of you, apparently have no ability to think critically. You listen to Obama or whoever, and you think, yeah oil companies are evil! As stated earlier, of course they have record profits. It's called math, with a steady 10% profit margin (many, many industries make more, including pharmaceuticals who are in the upper teens), inelastic demandn for gas, and rising prices, profits will rise. There's no trickery, no gouging.
And since Reagan our country has been in steady decline? Are you completely out of your mind? Reagan inherited the "sinking ship" of Jimmy Carter's double-digit inflation, widespread recession, and high taxes, and turned it all around. Reagan's deregulation and lower taxes set up a Clinton administration to inherit an unprecedented period of growth and innovation that made the internet and cell phones what they are today. Free markets work.
JayMagoo, you are a socialist, please leave the country, now. There's no place here for you anymore, communism is a failure. If I hear that 1% statistic one more time I'm gonna shit. That 1% is filled with people who made themselves succesful, and as pointed out, pay the lion's share of YOUR taxes.
I think we must look back to Teddy Roosevelt, why is that famous Republican not a hero to the Republicans. Because he saw a serious problem and found a way to promote regulation to repair the problem. Regulation is not the answer it is about the only one we seem to have to keep things in a fair balance. When the needs of the people come after the needs of a company we are in trouble. The gas prices are a symptom of much big problems and we are too often kept in the dark, even now to find the truth requires time and research. Since Reagan our country has been in a steady decline, and now we see the results. As the strength of unions has diminished there a fewer rights and far less fair treatment of the real strength of this country - it's workers. Our freedoms are not handed to us by those in the up-class, but have fought for by those in the middle and lower classes for the entire history of this nation.
Fools. ExxonMobil ALONE pays more in taxes than the bottom 50% of US taxpayers AND they paid more in taxes than their profits. Their profit margin is a lower percentage than Microsoft. You want a windfall profits tax on Microsoft? I thought not. Government control over business has been proven to fail time and time again. Just look at our government itself. The people working for our federal government have NO incentive to outdo themselves. They can hardly be fired and do the bare minimum to justify their employment.
Interesting notion. Grow the government and regulate, regulate, regulate. You’re going to regulate free will right out of people. If there is no prize (record sales and profits) why would anyone want to try to prosper? On top of that, the record profits also provide tax revenue for the government equal to the lowest 40% of the population. And that is one industry.
Finally, what is a fair profit margin for a company? Do not get that confused with just profit. So what if the oil companies are making a profit, that means they're doing what they do well, and we're purchasing it. If you don't like it, become an oil corp. yourself and do it better. Sounds like a free market to me. Build a better mousetrap.
It is clear the Republican policies have given giant oil corporations a free ride and it is a fact that the outrageous profits of oil companies is a threat to democracy. While McCain flounders about with no thought out message on the economy we are caught in an economic downward spiral courtesy of the Republicans in power.
There are differences, but the similarity is that this crisis arises from the Republican's fascination with deregulation. The regulations were put into effect over the years to protect the public from the greed of those who are in a position to manipulate the market. We seemed to forget that at the time that Reagan became president, the big money guys pursuaded government that they could be trusted and the "free market" would regulate itself. Well folks, it never happened that way, the Great Depression is testimony to that. And it isn't happening that way now. Let the rich and powerful operate in the marketplace without regulation, and eventually they will get everything. Capitalism works only with constant regulation to keep the greedy fat cats under control, or else they'd end up with all the wealth in the hands of a few. It's bad enough now with 40 percent of the wealth of America in the hands of 1 percent of the population. Exxon and other big oil companies have been reaping record profits while the price of gasoline is sky-rocieting. Doesn't that tell you something? Could it get worse? If the Republicans remain in control it's guaranteed to get worse. Bet on it.