Offshore drilling will BARELY bring down gas prices!!!!

I've often said that internet forums should have a litmus test.

Perhaps. But again, its all part of a larger plan. You have to both reduce demand and increase supply, regardless of how much the Arab Cartels try to control price.

Once they stop seeing that 750 billion dollars stop coming, its gonna hurt, and its gonna affect how they do business.

I'm part of the Pickens plan. Drill, use CNG, Nuclear power, wind power, solar. This in conjunction with curbing our demand, WILL make a difference. Hell, already we've seen a HUGE change in the attitude of the average American in terms of the demand for these obnoxious Suburban Assault Vehicles and other gas guzzling pieces of shit.

 

Good point iul. Oil companies are out there to make a profit and Republicans like Sarah Palin would like to make them RICHER.

 

Not that I am a big fan of big oil, but since when do we fault a business for attempting to make a profit? I'm trying to make a profit in my business. What's wrong with that?

Do keep in mind, as much as we would all like to punish big oil for making money, they are taxed more than any other industry.

The ones responsible for the most for the problem are the OPEC cartels. They control price and the supply. Don't like them making money? Stop buying their product.

 

That's exactly right. Even with all the tax loopholes and all of the tax breaks, the oil industry made 7.5% profit last year. Average profit margins for S&P 500 companies is 7.1%. Microsoft made 35% profit last year. Go ahead and hate oil companies if you want, just don't accuse them of fleecing the US citizens.

 

And to further your point, their profit margins are no higher now than they have been in the past. They are just making more as a result of higher market prices. More money, not a higher percentage. So the "record profit" thing is a bit misleading.

Walk, ride a bike or shut the hell up.

 

Tells you what kinds of times we live in here....I just heard a CNN correspondant say: "Good news for drivers this weekend. Gas prices will be down if have to refill over the weekend. Well, I guess that's good news if your city even has ANY gas"....ouch....

 

The first question that you need to ask about statistics, especially when politicians are involved, is, "Do the figures lie or do liars figure."

Politicians will use whichever set of numbers help support their case, even when it is erroneous or applied incorrectly. The record profits that the Democrats cite are profit dollars, not profit margins. Oil company prices are controlled by a commodities market. Oil companies do not set the price of oil. When the demand rises, so do the total profit dollars, but not necessarily the profit margin because oil companies are buying so much oil at market prices. Simple math shows that when they sell more oil, even at a stable price, the dollars will increase, but not necessarily the profit margin.

The other statistic being misused by some Democrats in Congress is the complaint that while oil companies profits have increased (again referring to dollars), the percentage they spend on exploration has not increased. This is a total misuse of statistics and is intended to mislead. It is comparing apples to oranges. Any simple idiot can figure out that if the profits double, but the percentage spent on exploration remains the same, the actual dollars spent on exploration have doubled.

Think real hard any time you hear statistics from any politician, regardless of their party affiliation. I sometimes cannot believe that they are stupid enough to actually believe what they are saying, so I must therefore conclude that they intend to mislead us with misinformation.

 

We saw a rise of 40 cents per gallon in three days as oil plummeted to around 90/barrel. Now its on the rise again and gas just dropped about 40 cents in the last week. The supply does not seem to be down where I am. At least it is not like it was in the 70's. Hopefully attitudes will continue to change as a result and demand will continue to fall.

I ask myself that question every time I hear one speak. "do they really believe that shit they are saying or are the retarded?"

I think some of them may in fact really believe it.

 

So let's say that Obama has his way and decides to raise taxes on "Big Oil".

Who will end up paying that tax? You and I. the Oil company will just adjust it's model to guarantee that it again brings home 7.5% profit. Now students, what would happen if Big Oil is taxed less?

So who wants to tax Big Oil, now?

 

Well, maybe we can let McCain have his way and let the RICH COMPANIES get EVEN RICHER while the economy crumbles. I think Obama is a smart guy and has a plan written out to how he's going to get the economy back in shape. I think McCain is lost and has absolutely no idea what he's doing.

 

Yeah, OK, fine. Go ahead and ignore what I just showed you. Do you really think that anything you say will change anyone's vote at this point? No.

Answer one question.

1) Will the oil companies pass Obama's tax increase on to it's customers? yes or no.

 

Oil companies will make money no matter what. The same logic though we might as well cut all their taxes, give them money as they will surely lower their prices.

No matter which way you go taxing is not the solution, reducing the government size and expenditure is.

 

This is so naive that I'm getting giddy!

Do you actually believe this? Obama has no background whatsoever in economics, nor has he indicated that he has such a plan. He just added the two guys that helped destroy Fannie Mae and Freddie Mac to his economic advisors, but that was very likely just because they spent so much of money (hint, it wasn't their money) supporting Obama with campaign contributions.

The only plan that he has or has indicated that he has is for raising taxes. That is the only sure thing with Obama.

 

I dont' believe he does have an all great plan.

However some of the Fannie Mae and Freddie Mac connections have been largely discredited last I checked. Unless something new has happened?

http://voices.washingtonpost.com/fact-checker/2008/09/obamas_fannie_mae_connection.html

 

Well, I know you didn't say it, but that almost looks like...

no way...

...like you agreed with something I said????

 

Guess it depends on which way you look at it.

Of course they will transfer the tax burden to the consumer, that's how all business works.

If you think McCain's plan is any better though, well everything I read is his plans will actually increase the deficit over that of Obama.

Without drastically reducing the size of government including defensive spending we are fuxxed.

My main fear is we are so far into debt the way it is, so dependent on all this 'big brother' I don't think even reducing the government will work anymore. Taxes will need to stay high with huge cuts in order to make a dent and get us back on track.

 

Yeah, sorry... My mistake.

Well, I guess we're back to "I never said McCain's plan was better".

I was addressing the fact that gregdavidson is fascinated with the misconception that taxing big oil will somehow make them less "rich". Raising taxes on big oil will not hurt the oil company at all. As you just said, they will just pass the tax on to us.

 

Depends on how you look at it.

Simply stating neither side is playing with a full deck that makes any sense. BTW McCain was brought up above

Of course they will pass it on, especially in an industry such as oil. If we want to drive, put tires on our vehicles and so much more we have no choice but to pay the price.

 

Actually, all my friends are voting for Obama. Most "middle class" citizens I talk to laugh when I mention McCain's name. They think he's an idiot like Bush.

 

Didn't Bush carry Florida in the last 2 elections? I guess people of Florida love him.