Ohio Democrat proposes 100% tax

[mtrycrafts]

http://www.businessandmedia.org/articles/2006/20060728145604.aspx
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The last time we had an oil crisis, the national speed limit was lowered to 55.
Not a word by anyone to do the same today and get an immediate 10% fuel savings, not years in the future with some exotic car, or a hybrid diesel.

 

[mtrycrafts]

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4. We still pay alot less than England. Hurray for USA!

Yes. Perhaps England and most of Europe has a much higher gas tax on it?

I bet not all the oil pumped is sold at the commodity prices that varies by the minute. I bet it is by contract at a much lower price.

 

[mtrycrafts]

Oil is a commodity. It sells for whatever the highest bidder will pay. Blaming Exxon for high oil prices is like blaming the auctioneer because a Picasso sells for $1 million.
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I bet Exxon or the refineries, whoever buys it direct from the producers is not buying oil at the commodity market prices but by contracts. I bet the oil well price is not even near commodity market prices otherwise how come oil is dirt cheap in those countries? Commodity prices is a speculated marketplace on future possibilities. And when those fears don't pan out? The prices are still skyrocketing.

 

[mtrycrafts]

Perhaps this will make people feel better ....

For the second quarter of 2006, the basic numbers for Exxon ...

Total sales ......................... $99.034 Billion
Taxes paid ......................... $27.088 Billion
Net Profit ........................... $10.360 Billion

Hey, that tax rate is lower than mine How come?

 

[highfihoney]

HUH? what,who said that.

The last time we had an oil crisis, the national speed limit was lowered to 55.
Not a word by anyone to do the same today and get an immediate 10% fuel savings, not years in the future with some exotic car, or a hybrid diesel.

I'm marking this one down on my calender,who woulda thunk i would agree with mtry on something

On average my gasoling bill at the end of the month has been right around $1,200 per month,over the last few months my entire family has tried hard to lower our speed by 5 to 10 miles an hour & the savings show,we've managed to bring our gasoline bill down to just a little over $1,000 each month.

It sucks slowing down & i still dont feel right driving at 70 mph but for $200 a month i can live with it.

 

[Rock&Roll Ninja]

The last time we had an oil crisis, the national speed limit was lowered to 55.

I don't know about where you live, but the speed limit was never raised back above 55 here.

 

[The Dukester]

The last time we had an oil crisis, the national speed limit was lowered to 55.
Not a word by anyone to do the same today and get an immediate 10% fuel savings, not years in the future with some exotic car, or a hybrid diesel.

One more reason I'm glad we have a Republican in office

"I can't drive....55!"

 

[The Dukester]

Hey, that tax rate is lower than mine How come?

Either:

A) You make more than they do

or

B) You should fire your accountant for not finding all those loopholes and shelters

 

[Buckeyefan 1]

I will NEVER understand people *****ing about gas prices...
1st: Everyone is lucky gas isn't $18 a gallon let alone just $3. Does anyone even realize the amount of work that goes into drilling, pumping, transporting, rendering, refining and testing of crude oil? Then the actual shipping of gas to your local pump?
People pay more per gallon for Pepsi and Coke which is just sugar water!

2nd: If you are one of those people *****ing about high gas prices, you want to know who to blame? Take a look in the mirror. It's YOU the consumer. We live in a free economy that is based on supply and demand. If I had the last 100 gallons of fuel in the world, do you think I'm going to sell it for $1 a gallon? NO! It's going for the highest offer...supply and demand. I have a limited supply and there is a great demand, hence, a huge cost.
Oil companies are doing EXACTLY what this countries economy is based upon. I would care less if they were making 100 zillion dollars let alone 10 billion. Good for them, they are living the American dream. It is ANYTHING but price gouging.

Normally I don't like to get into these economic debates. But this one drives me insane. The lackadaisical ignorance is frightening.

Why isn't gasoline certified a utility? There are no economically feasible substitutes for gasoline. Our government is too thick into big oil to provide proper incentives for non hybrid electric vehicles. Sure, ethanol is there, but anyone who knows anything about ethanol knows it's a tax vehicle/farming incentive, and not a true economic substitute for fuel.

When the fax comes over in the morning at your local Speedway as to what the price floor should be for a gallon of gas, it hits every other privately run station at the same time. Isn't it odd the price is reflected all over the city? Should we call it a monopoly? Nah, it's the American way. There's nothing wrong with making a profit, right? Sure, until you find out that OPEC recently had a meeting with all non-OPEC oil producing countries to agree upon pricing of crude. They did a study on this recent meeting, and claimed if the meeting never took place, gasoline prices would be at least a $1 less per gallon. That meeting eliminated competition, which goes against the American way.

It amazes me the supporters of big oil and big oil profits here in the US. If GM had no competition because of tax incentives/tariffs, and were making record breaking profits, would these same folks back them? Have these folks ever taken an economics course in college?

C'mon people! OPEC is turning this country into present day England, and it's happening right before your eyes. That "just deal with it" attitude will drive oil prices above $5 a gallon, and transportation will never be the same. You wonder why new car sales are down. It's because our gasoline budget has become our former car payment. Most can't justify a hybrid because they can't justify another car payment.

It hasn't hit full force yet, but I wouldn't hold my breath too long.

 

[VS540]

Normally I don't like to get into these economic debates. But this one drives me insane. The lackadaisical ignorance is frightening.

Why isn't gasoline certified a utility? There are no economically feasible substitutes for gasoline. Our government is too thick into big oil to provide proper incentives for non hybrid electric vehicles. Sure, ethanol is there, but anyone who knows anything about ethanol knows it's a tax vehicle/farming incentive, and not a true economic substitute for fuel.

When the fax comes over in the morning at your local Speedway as to what the price floor should be for a gallon of gas, it hits every other privately run station at the same time. Isn't it odd the price is reflected all over the city? Should we call it a monopoly? Nah, it's the American way. There's nothing wrong with making a profit, right? Sure, until you find out that OPEC recently had a meeting with all non-OPEC oil producing countries to agree upon pricing of crude. They did a study on this recent meeting, and claimed if the meeting never took place, gasoline prices would be at least a $1 less per gallon. That meeting eliminated competition, which goes against the American way.

It amazes me the supporters of big oil and big oil profits here in the US. If GM had no competition because of tax incentives/tariffs, and were making record breaking profits, would these same folks back them? Have these folks ever taken an economics course in college?

C'mon people! OPEC is turning this country into present day England, and it's happening right before your eyes. That "just deal with it" attitude will drive oil prices above $5 a gallon, and transportation will never be the same. You wonder why new car sales are down. It's because our gasoline budget has become our former car payment. Most can't justify a hybrid because they can't justify another car payment.

It hasn't hit full force yet, but I wouldn't hold my breath too long.

1st: I'm not supporting "big oil", I just don't have a problem with what they charge for THEIR products. Just like I don't have a problem with what McDonalds charges for a cup of THEIR coffee.

2nd: Did the economics course.

3rd: It's not "lackadaisical ignorance", it's called truth. Truth is this country bases a huge portion of it's economy on oil. We get that oil from OPEC, therefore we cater to OPEC. The consumer greedily uses and wastes oil as if it's fully expendable. What is OPEC to do, sell us the oil cheap just to be nice? The consumer (like I mentioned before) is the one to blame not OPEC, not "big oil".

Oil is NOT a renewable resource, it will NOT always be here. Holding hands and praying will not make more oil (don't tell that to some of the right wing lunatics though). Consumer responsibility (like that will happen) and the government working to find an alternative energy source (yeah not holding my breath there either) is the ONLY way to solve the high gas prices.

Ethanol is a joke and actually takes more energy to create than it can give off. Hybrids still rely on gas, so that counts them out too. There are many alternative fuel ideas that make no sense and others that do offer hope. The ONE thing that remains true though is this: The MOMENT gas prices go down is the moment people will stop caring about the real problem, our reliance on fossil fuels and foreign oil.

Oh and the Buckeyes will be 7-4 next year.

 

[Rob Babcock]

A barrel of crude is well under the all time high price yet gas is far beyond the all time record. And the oil companies are posting the largest profits of any company in the history of human civilization. Am I the only one that doesn't smell a rat?

 

[billy p]

A barrel of crude is well under the all time high price yet gas is far beyond the all time record. And the oil companies are posting the largest profits of any company in the history of human civilization. Am I the only one that doesn't smell a rat?

No,but the members who don't share your view won't crack back on a "mod"

 

[Buckeyefan 1]

1st: I'm not supporting "big oil", I just don't have a problem with what they charge for THEIR products. Just like I don't have a problem with what McDonalds charges for a cup of THEIR coffee.

2nd: Did the economics course.

3rd: It's not "lackadaisical ignorance", it's called truth. Truth is this country bases a huge portion of it's economy on oil. We get that oil from OPEC, therefore we cater to OPEC. The consumer greedily uses and wastes oil as if it's fully expendable. What is OPEC to do, sell us the oil cheap just to be nice? The consumer (like I mentioned before) is the one to blame not OPEC, not "big oil".

Oil is NOT a renewable resource, it will NOT always be here. Holding hands and praying will not make more oil (don't tell that to some of the right wing lunatics though). Consumer responsibility (like that will happen) and the government working to find an alternative energy source (yeah not holding my breath there either) is the ONLY way to solve the high gas prices.

Ethanol is a joke and actually takes more energy to create than it can give off. Hybrids still rely on gas, so that counts them out too. There are many alternative fuel ideas that make no sense and others that do offer hope. The ONE thing that remains true though is this: The MOMENT gas prices go down is the moment people will stop caring about the real problem, our reliance on fossil fuels and foreign oil.

Oh and the Buckeyes will be 7-4 next year.

WHAT? Buckeye's 7-4? Who are they losing to?

1) McDonalds coffee pricing isn't dictated by a backasswards futures demand. Opec decides pricing based on guesstimated future forecasting, then raises that price to account for the loss of profits. It's truely not a market influenced price.

2) OK - that was my major (not that I know anything ).

3) You are correct that the US has ignorned the fact oil is not a renewable source, and purchased large vehicles over the past 15 years and is paying dearly for it. Raising the price of crude will "teach US consumers" how to conserve. Simple economics. The problem is, OPEC is charging $1 more per gallon than what the market demands. It's a monopoly (and always has been). We cannot use the excuse that it's market driven because other worlds don't operate as does the US. They charge what they charge, and know their stronghold on China and the US (demand for oil). What's keeping them from charging $10 a gallon? Wouldn't that be the quickest way to conserve this resource?

 

[VS540]

What's keeping them from charging $10 a gallon? Wouldn't that be the quickest way to conserve this resource?

It will probably end up being that way in the future...

 

[Audioholics]

A little off topic (though I could care less about the politics at this point) I just got this today from AG Edwards. I cannot/will not vouch for the source, but it's an interesting viewpoint.

 

[Frustrated]

Silly Comments

1) The democrats are not socialst. If they were, there would already be a national health system. This socialist comment is as silly as a polictician proposing a 100% tax on oil profits. A quick reminder, during WWII, excessive taxes were placed on companies producing war materials. This policy was fair. Why should some companies profit from a national disaster? The spiralling oil prices are a national concern.

If you study the market, you should know historically it performs better under democrats.

By the way there is a socialist party in the US. Check your ballot next time.

2) Someone pointed out Oil is a commodity. That means the oil companies are paying more, so they should be making less or breaking even and not more, if the hold the same profit margin. Since they are making amazing profits, we can assume this isn't true.

Oil companies don't pay the daily listed price. They make long term contracts. This means a bump in the oil price shouldn't translate into instant higher pump prices.

3) Taxing the **** out of gas is completely silly. It doesn't reduce driving. People need to drive. In Europe, specifically Germany, super unleaded is at 1.38 Euro per Liter, approx. $1.50 x 4 = $6 per gallon. This doesn't prevent anyone from driving. Carpools are practically non existant, and the Mercedes, BMW's and other fast cars continue to do 240 kmh/ 150 mph on the Autobahn. At this speed consumption is dramatically increased!!! With a/c on, I need 9 liters for 100 km.

A serious look into the oil industry by several accounting/ auditing firms should be made. If gouging is confirmed, the oil companies should be severly punished.

Remember not to vote for those idiots who want to subsidize the oil industry! Any business making record profits can afford to build and revamp their refineries, at their own cost.

My two cents.

 

[Buckeye_Nut]

Oh and the Buckeyes will be 7-4 next year.

LOL.... The bucks are favorites to begin the season #1, so I think those who follow the sport disagree. I personally hope they dont begin as number 1 because it's a jinx. Anything in the top 5 will do

LOL....What do you know about college football anyway?? Teams are reverting back to a 12 game season this year, so I feel fairly confident your prediction is wrong.

 

[10010011]

1st: Everyone is lucky gas isn't $18 a gallon let alone just $3. Does anyone even realize the amount of work that goes into drilling, pumping, transporting, rendering, refining and testing of crude oil? Then the actual shipping of gas to your local pump?
People pay more per gallon for Pepsi and Coke which is just sugar water!

That whole "gas cost less than bottled water" argument that Rush Limbaugh and his ilk constantly use is pure B.S. I get to use all the water I want for one flat monthly fee at home. So I do not need to buy bottled water to survive. I do need to buy gas for my car to work to survive.

2nd: If you are one of those people *****ing about high gas prices, you want to know who to blame? Take a look in the mirror. It's YOU the consumer. We live in a free economy that is based on supply and demand. If I had the last 100 gallons of fuel in the world, do you think I'm going to sell it for $1 a gallon? NO! It's going for the highest offer...supply and demand. I have a limited supply and there is a great demand, hence, a huge cost.
Oil companies are doing EXACTLY what this countries economy is based upon. I would care less if they were making 100 zillion dollars let alone 10 billion. Good for them, they are living the American dream. It is ANYTHING but price gouging.

I have nothing against oil companies making a profit, but RECORD PROFITS during a time of WAR!

That is treason, or at least racketeering and they should be forced to pay higher taxes.
If nothing else it is their national duty to support our troops by paying their fair share.

 

[Rock&Roll Ninja]

You wonder why new car sales are down. It's because our gasoline budget has become our former car payment. Most can't justify a hybrid because they can't justify another car payment.

Actually summer 2005 (The $5/gallon "katrina" season) was a bumper year for fullsized trucks. And the new-on-the-lot 2007's aren't exactly gathering dust here.

 

[VS540]

LOL.... The bucks are favorites to begin the season #1, so I think those who follow the sport disagree. I personally hope they dont begin as number 1 because it's a jinx. Anything in the top 5 will do

LOL....What do you know about college football anyway?? Teams are reverting back to a 12 game season this year, so I feel fairly confident your prediction is wrong.

1st: you come off as if I just insulted your mom...get a grip.

2nd: Gee wiz, sorry I miss typed something after midnight and hit 7 instead of 8.

3rd: Who has Ohio State #1 other than perhaps some "local Ohio State experts"? Most preason picks I see have the Buckeyes #4 (which is where they finished last year).

4th: I do more than "follow" the sport.

Last the comment was meant more as a lite hearted rib...so again, get a grip.