What are they up to ?

RAM · Post by **RAM** » Tue Dec 16, 2008 2:25 pm

Okay! What kind of scheme is Big Oil (as opposed to Little Oil) working on here? I could understand how they artificially ran the cost of gasoline to over $4.00/gal., but allowing it to drop to $1.36 (in Nashville) in two months has got to be suspect. Hmmm! I agree use has dropped by 7% or so, but not almost 70%! Something is up here. We need to figure why they would suddenly allow their income to drop so drastically. After all, we know they control gasoline prices.
Phil, figure this one out for us! I recall you said if they put a windfall tax on oil company profits those guys would still find a way to get us. By the way, what happened to all that talk about a windfall profits tax?
With a trillion dollars of gifts to the banks already commited from the Treasury boys, a bailout of the auto industry in the works, and another trillion for the Obama infrastructure rebuilding plan, the government needs all the revenue it can get! Or to print more money.
Oops! I almost forgot the new energy plan. All those windmills and solar cells to subsidize. Another trillion! Like the monkey said as he peed into the cash register drawer: "This could run into real money!"
Bad Bob

Post by **john elder** » Tue Dec 16, 2008 4:58 pm

BB: I believe the Gov makes the same money whether it's 5 bucks or 1 buck a gallon...tax is so many cents per gal, eh?

Re the drop in price, it's all about keeping us at that oil teat and back to buying those SUVs... also trying to keep the new Kudzucanol that the guy is making in your state from wiping them out

Deke

fishbugman · Post by **fishbugman** » Wed Dec 17, 2008 10:28 am

Common Ram...isn't the answer obvious. How else are the oil companies going to get their bailout and free bucks? First is was the Financial Industry, then the car companies, then the oil companies, then EBAY sellers and then Welfare Recipients. Everyone will get their fair share eventually. I believe this was discussed previously by Notsodumbass (spelling?) you know the guy that made all those future predictions?

RAM · Post by **RAM** » Wed Dec 17, 2008 2:19 pm

Oops! Almost left out the millions of mortgage foreclosures. Forgive 25% of the mortgage, then refinance at artificially low rate, and what have you got? Another trillion! Thats $4,000,000,000,000 so far! BB

PS: That is the correct no. of zeros isn't it Steve? Like 4x10 to 12th power?

Jason · Post by **Jason** » Wed Dec 17, 2008 5:54 pm

John elder makes a good point. I wonder if the lower price of oil will affect the state of Alaksa revenues. I wonder if the oil companies are taxed on their revenues or by the gallon. I'm sure decreased demand and the tanked stock market will greatly effect my PFD check next year.

I need that money for langs fall auction.

Gas is still around $2.50 here and there's talk about shutting down our local refinery so that wont help. All because you guys are too stingy to pay $5 a gallon. Next time you're at the pump, remember there are starving reel collectors in Alaska. So fill'er up!

RAM · Post by **RAM** » Thu Dec 18, 2008 10:54 am

Jason-Oil companies are taxed by revenue (income tax). Last year Exxon's income tax was more than many third world countries' GNP combined. They are an international company so they also pay foriegn tax. They get no depletion allowance as that applies to small production amounts per small producers. That is another myth.
The tax per gallon is paid by you-and me. So is the state gasoline tax, one of the highest in TN. The oil companies are considered to be crooks but the real cheats are us Good Old Americans. If the IRS could just get the tax due from small time cheaters it could balance the budget every year (But not next year. God couldn't balance it next year).
Let he who is without sin cast the first stone at "Big Oil"!
BB