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coopercash
2716 Posts |
 Posted - 06/11/2008 : 04:48:24 AM
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Obama's pitch that he intends to impose a massive "Windfall" profits tax on "Big Oil" may play well with those folks who can't (or wont) see beyond the end of their noses! It is however a recipe for further domestic economic disaster.
"Big Oil" is comprised of "multi-national" companies with worldwide subsidiaries. So, where do you think those "Windfall" profits will be headed?
The alternative? Instead, welcome those "Windfall" profits and encourage "Big Oil" to invest a healthly slice in aggressively and rapidly developing home-grown energy inclusive of new oil and gas fields... new refineries... bio diesel and renewable "clean" energy.
Strategy? Invest in and develop domestic energy NOW and benefit from a 10-year tax holiday on all profits derived solely from those ventures. In return for the 10 -year tax holiday, Companies will be required to commit to rapid, aggressive and efficent energy development that conforms to a 2-7 year timetable.
Within the first 1-3 years: Massive investment in producing bio-diesel Plants, commercial wind farms,solar and nuclear power projects plus waste-to-energy Plants
2-5 years: New oil and gas exploration that is producing on an ever expanded basis. Refurbishment and re-activation of existing "mothballed" refineries that currently exisit in Louisiana.
Within 5 years: New refineries built in strategic locations, commissioned and producing.
That strategy combined with the National and mandatory adoption of "Green" development and construction codes (commercial and residential) will have "us" in excellent shape by 2014 and progressively so in the years leading to that date goal.
Along the way we will also be adding many thousands of needed jobs across the board along with the creation of several hundreds of new businesses.
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Chris Clark
5966 Posts |
Posted - 06/11/2008 : 05:05:13 AM
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Good stuff, but most people absolutely refuse to see beyond the end of their noses as you so put it.
It's easy to blame the big oil companies for the situation we're in now, but really, it's our fault to begin with. We haven't pushed for more capacity (and it's not like we didn't see this coming), and until recently, we have refused to cut back on our demand. $4 gas is here to stay. |
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CoolMtgGuy
3720 Posts |
Posted - 06/11/2008 : 05:15:42 AM
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No way ... these recommendations take too long ... I want a quicker solution ... like yesterday!
Just kidding of course.
Good suggestions and we probably won't seriously pursue any of them until gas prices reach $10/gallon. When we cannot afford to take our cars out of our driveways, only then will we be ready and willing to push our political representatives to do our bidding ... right now they are all doing their own thing. They know that we are not made enough yet. |
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MisterVA
6635 Posts |
Posted - 06/11/2008 : 06:32:33 AM
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| THERE IS NO SUCH THING AS A CORPORATE TAX! |
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Scrooge McDuck
8853 Posts |
Posted - 06/11/2008 : 07:13:19 AM
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| another great post by coop. |
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hlsi
202 Posts |
Posted - 06/11/2008 : 07:23:26 AM
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I have a different reason to oppose an oil Windfall Profits Tax.
Not every well and not every field has the same production costs. Some fields have a much higher per barrel production cost than an average field or a good field.
The incentive an owner has to maintain a marginal field with high production costs is that eventually the price of oil will rise, and he will realize profits on that field.
The last time a windfall profits tax on oil was passed, during the Carter administration, significant numbers of wells went out of production and were capped. And that only makes sense. There is no point to keeping a marginal well open if as soon as market conditions make it possible for that well to really pay off, the government is going to swoop in, declare the price increase you've been counting on a "windfall", and take your profit away.
So during the Carter administration we ended up with wells going out of production during a period of shortage. Which is of course insane.
It was probably the worst of Carter's policies even if it's not very well known. Obama's desire to duplicate it does not bode well. I tend to think, however, that Obama knows full well that such a tax is a bad idea, and is just pandering by talking about a policy he has no intention of implementing. |
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Edumakated
135 Posts |
Posted - 06/11/2008 : 08:41:16 AM
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Great stuff. one thing I find funny that no one seems to mention when these blowhards are crying about the oil companies record profit. Oil companies make about 7 cents on the dollar in profit which is in line with many corporations. Of that dollar paid to the oil companies, government taxes are about 15 cents on the dollar. So if the oil companies are gouging us at 7 cents on the dollar, what exactly is the government doing? Raping us?
This country needs a well defined plan for increasing production, but simultaneously finding a reliable alternative fuel source for cars.
We need a serious Manhattan Project to develop fuel efficient cars. To hell with NASA, take their money and get some engineers to figure out how to make cars run on water or electricity efficiently and cost effectively. |
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Originate_This
388 Posts |
Posted - 06/11/2008 : 09:09:49 AM
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quote:
Originally posted by Edumakated
Great stuff. one thing I find funny that no one seems to mention when these blowhards are crying about the oil companies record profit. Oil companies make about 7 cents on the dollar in profit which is in line with many corporations. Of that dollar paid to the oil companies, government taxes are about 15 cents on the dollar. So if the oil companies are gouging us at 7 cents on the dollar, what exactly is the government doing? Raping us?
This country needs a well defined plan for increasing production, but simultaneously finding a reliable alternative fuel source for cars.
We need a serious Manhattan Project to develop fuel efficient cars. To hell with NASA, take their money and get some engineers to figure out how to make cars run on water or electricity efficiently and cost effectively.
Exactly. By definition windfall means an unexpected gain through no effort on your part. Oil companies are the ones investing and drilling for oil. It's the government that sits on their hands and reaps the benefits. They make over 40 cents a gallon in New York through gax taxes.
These politicians keep pandering to the ignorance of mainstream America by continuing to blame oil companies for high prices, when it's the Democrats that stand in the way of increasing domestic production. The average American uses 25 barrels of oil a year, while the average Chinese and Indian uses 2. That number will only continue to grow. A couple years from now, we're going to think $5/gallon gas was cheap! |
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rtrefflich
3414 Posts |
Posted - 06/11/2008 : 09:22:10 AM
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This is one thing no one can understand, those evil corporations that get taxed don't pay taxes, they just raise their prices and send them on to the consumer.
How many people working here in mortgages would like to have a special tax for making too much money? I wouldn't but that is what they are trying to do. I don't remember the govt. coming in and trying to help everyone who worked in oil in the mid to late 70's and early 80s in Texas, Wyoming and other places that went bust.
quote:
Originally posted by MisterVA
THERE IS NO SUCH THING AS A CORPORATE TAX!
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Edumakated
135 Posts |
Posted - 06/11/2008 : 09:43:23 AM
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They need to eliminate all corporate taxes. Of course, it will never happen since Democrats dont understand basic economics. Corporations do not pay taxes. Consumers pay taxes. This ain't rocket science.
I just wish there was a politician who would just simply point this stuff out during a debate instead of trying to be all prim and proper about it.
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VVance
2489 Posts |
Posted - 06/11/2008 : 2:33:28 PM
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By implementing a Windfall Profits Tax on oil companies, all Government would be accomplishing is driving down the prices of oil stocks...and guess whom that would affect.
Why stop at oil companies? Why not impose a Windfall Profits Tax on banks too. That new revenue could then be used to help the poor borrowers who are losing their houses due to the evil banks that put them in those evil mortgages in the first place (Sarcasm on). |
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darkstar
18311 Posts |
Posted - 06/11/2008 : 2:43:21 PM
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| The Dems shot themselves in the foot not getting behind Hillary more, unless McCain finishes like Brown in the Stakes, it's 4 more rep years...His wife would surely bring class back to the 1st ladyship, reminds me of Jackie O with her grace and demeanor...She looks like she's caring for her father at times though LOL |
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mojojojo_1
847 Posts |
Posted - 06/11/2008 : 2:45:50 PM
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coopercash---- this is exactly what i have been saying to my group of political buddies. compensate the private secotr to fund green projects. tax breaks that force the funds to add development of green energy.
that way the private sector can place it in what they feel is the best green options. they will do it more affectively and cheaper.
Windfall tax was just voted down right? wasnt it just to tax them and thats it period? how does that help, where would have that tax money gone? |
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