The GOP Votes Against Relief For Americans

Windfall profits taxes would not reduce the price at the pump by one, single cent. The only thing this insane policy would accomplish would be that there would be a dramatic decrease in domestic oil production because, surprise, the taxes would be too high.

Jimmy Carter already tried this back in the 1970's.

The Bush Buddies always find a reason to stick to the working Joe.

What you fail to mention, Juan, is that last week the liberals voted down another drilling bill. Ain't partisan politics great? Speaks volumes about our educational system too, the parrots of one side and another programmed to think in their little boxes and vote accordingly.

Drilling is wrong in a pristine wilderness when there's plenty under the barren wastelands. Just an excuse by oil companies to gouge the consumer. We don't need more oil, we need better sources of energy and better diplomacy.

Why did we not learn a lesson from the oil embargo of the 70's? Why was nothing done differently. We should have been researching alternative forms of fuel. Greener forms of energy instead of depending on others to keep us in fuel.

The oil companies can't do anything about the price of oil, and their profit margin is not that high. The executives get paid according to their contracts; if the shareholders think that they're overpaid, they can vote them out. Don't count on it, though; a lot of retired people depend on those dividends to live.

Obama & the Democrats (sounds like a pop band) want to not only take the profits, which will immediately reduce the dividends, but also raise capital-gains taxes, which will, again, affect retired shareholders much more than the "super-rich" executives. The reduced income will simply be passed-down to fuel buyers.

If you want to whine, start whining to all the lefty Dems who won't let those evil oil companies collect our own resources. That would chop the legs out from under the speculators, and oil prices would plummet.

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Juan-

John, Sue and Rocco are all over it! Oil Companies make only 6-10% profit. Would you like to come and work for ME at 10% of my profits? If so, your HIRED! You are confused; it is the Leftists, who obstruct in Congress, who are at fault. And, they should be ashamed.

Wilma-

ANWR is quite pristine; so much so that NO-ONE will ever live there, much less visit. Environmentalists and Leftists are responsible for our trouble. We should be drilling our OWN resources, but obstructionist Liberals have prevented it.

Alternative energy solutions are many years away from becoming a reality. The "oil bubble" we are experiencing now is the speculators hedging against the weak US dollar, coupled with the supply and demand issues. There hasn't been a new refinery built in the U.S. since 1979. You can thank the Libs and the @#$%ing tree huggers for that. Both sides are responsible for the current mess through their inaction.

John P., you are correct. The profit margins of the oil companies are no different than most large U.S. businesses.

Now to finish on a scary note, all you need this year is a Cat 2 or better hurricane to just threaten the Gulf, and the speculators will drive the price through the roof. If one actually hit, were in a lot of trouble.

The GOP is for the oil companies. What else is new?

Jared-

I'm not affiliated with the GOP. I'm affiliated with the facts.

Why don't you expound on what you know about this, the Greatest Country in the World? Or would you like to argue that point first, since you do not agree?

On being a citizen of the Greatest Country in the world...

What makes it great, among other things, is our ability to disagree with those who govern us instead of lining up with whatever they decide. I might disagree with the GOP on this but that does not mean I disagree with them on every single issue. To the contrary actually. This attitude of this is the Greatest Country on earth, hence you should feel lucky and not criticize, is, quite frankly, what will ultimately make us fall behind.

Socialist POV? Don't know what a socialist point of view is. How about an American POV? Help hard working people in tough times. Is that socialist? Then yes, that would be coming from a socialist POV.

Let's stick with the facts. When was the last time the GOP tried to help out corporations? Today.

When was the last time the GOP tried to help out hard working Americans? I don't know.

Don't take offense, you are not affiliated with the GOP.


As (former GOP Congressman) Joe Scarborough said this morning 'when did the republican get the memo that they should side with the big corporations'

Good question.

These people have no shame. You give them your vote and listen to them on rainy days. They talk to lobbyists who give them money to run attack ads against their opponents. You buy the crap, vote for them and they come back 2, 4, 6 years later and do the same thing.

I've been to at least 35 states. It's a beautiful country. We are blessed with some of the most abundant natural RESOURCES in the world. They are supposed to be used by man for the benefit of man.

Jared-

You seem incapable of the two concepts that are most important for this discussion...

...Capitalism, and comprehension.

Yes Mark-John, Obama followers seem to forget we have a capitalist form of economy. Now you can be against capitalism, just say so. Obama wants to "redistribute wealth", hmmm, interesting, sounds kind of like Chavez to me. Tell me Obama people how much is too much for people to earn, how big should our dreams be. Let us know so that we can dream less, want less, and expect less.

Indeed, Kay-

Wouldn't it be wonderful if our heads were all at the same level...just below the surface of the water!

"Equality" is not an American value.

Mark-John, and our competitive spirit is why we have the greatest innovative minds. Innovation cannot be regulated or re-distributed.

The reason the big oil controlled GOP wants to start drilling in the currently protect wilds of America, is not because they want to help the drowning Americans, but because it will give their puppets masters new windfalls to tap into.

As for the premise of "They only make 10 % profit" well here are some facts;

Net income for oil companies are up 75% to $9.92 billion. This is net not gross and this a caculation for a three-month period .

Exxon has alone earned huge profits amid record-high energy prices and is estimated to earn $96 billion this year in profits.

I personally have no problem earning profits, however when it comes to things such oil, which is a must, there can be a time when too much profit at the expense of us all, is extreme.

On American Morning with that idiot, John Roberts, he interviewed an economist from the Brookings Institute. (not sure who it was) John Roberts refused to see the significance that there was no evidence that giving the tax break to the oil companies would ensure that the savings would be passed on to the consumer. They were under absolutely no obligation to do any such thing They weren't, were they? They never did. Now, rescinding the tax breaks is going to do nothing but definitely make the prices higher because they will try to compensate for the extra money they have to pay. That IS a given.

are we really surprised?

If they won't do anything about windfall profits (and, as the oil companies are posting their largest profits in history, this should qualify), pershaps they will take up the problem of excessive compensation?!?!?

Sue-

Correct.

Juan-

I was discussing "PROFITS ON INVESTMENT," which is at 6-10%, and NOT total earnings. Comprehension is an important element to an accurate discussion.

By the way...you've still not taken me up on my "generous" job offer; I'll pay you 10% of MY earnings. Not such an enticing deal, now IS it, Juan?

Mark-John, when I was still on the road, I used to make 15% of the band's net after we paid all the non-owner musicians, road crew ,etc, etc., which was a huge difference from, what was earned by those that paid to see us. So the percentage of just 10% has to be taken into context. 10 billion dollars net profit is a huge anount, considering this is profit after paying all expenses, employees, drilling and transporting the oil etc. etc. Teh oild companies are taking advantage of this spike and helping keep it up as long as they can. Their puppets in Washington are helping to this. That is why we despertly need new blood in the White House.

Juan-

If you were in one of the most beloved and talented bands in the World, and therefore experienced a huge take for your accomplishments, would you enjoy the resentment and disdain of the "session player," who made only a meager living, and never made it to the Worlds' Stage?

Juan, you see the word "profit" and think that's what companies keep; it's what they have left net of expenses, and before the huge amount of taxes on that amount, along with the dividends they pay to shareholders. Hence, their profit margin ends-up being about 7%. If the oil they have to buy to keep your vehicle running was at $13/barrel instead of $130, the margins would be the same. Keep some perspective.

John-

I've endeavoured here to explain that very thing...let's hope he understands your economics lesson better than he's understood mine. Thanks.

The game the left wants play now is clear. To cover up for their lack of action on energy legislation, they play to the lowest common denominator of their base by blaming the oil companies. Economic reality requires to much thought; blaming big oil does not, and of course demogogary plays better on television.

Oh, geesh how the liberals swallowed this batch of bad kool-aid! Attention leftists: We need to drill for oil in America! What does it take for you to get it? The left is killing our economy, prices are going up because of high oil prices. Don't try to find a scapegoat for your stupidity!

Unfortunately, nothing will ever be equal or fair. We can strive to be better in life and politics.