These breaks for large oil companies were repealed by congress 31 years ago. The 4 billion in depletion allowances currently go to small companies only. When these allowances are eliminated the general public will pick up this tab at the pump in the form of higher gas prices. This is simply more class warfare rhetoric and will become another hidden tax on the general public. Democrats have been getting away with this ploy for years under the guise of attacking big oil etc. The public pays all corporate taxes buried in the prices we pay for goods and services!
Let me see if I can type this slow enough for some of you to understand...
Obama prints tons of money with nothing backing it... the more money (debt) the less it is worth....
Oil is pegged to the US dollar...the less the dollar is worth, the higher the price of oil...
I realize that this concept is hard for most democrats to understand but the more debt we have, the higher oil prices will go, as well as the cost of everything else.
by MarineVet64 May 4, 2011 4:42 PM EDT The oil companies are hoarding oil and driving up prices while enlisting morons to complain they aren't allowed to drill. They currently have 20,000 leases to drill which are not being used. Anyone feeling a cold and prickly in their shorts?????????
The Democrat leaders continue to prove that they are idiots! Increasing taxes on the oil companies will result in .... higher fuel prices! All corporate taxes get passed on to the consumer! The Democrats' misguided efforts do nothing to help fix the real problem: we need more oil!
One well know oil company made $11 BILLION in profits for the first quarter of this year.
Just think how much repealing tax breaks and closing loopholes for the oil companies could go toward reducing the national debt.
If congress legislated regulation on speculators and the rest of Wall Street when it comes to buying oil commodities, you would see the price of oil drop like a stone.
On the previous page it was stated that the rate of incidences of asthma has increased considerably and they cannot understand why, because so many people have stopped smoking.
When bush was in office he lowered the emissions standards for industry.
Now the Republicans are proposing that they be lowered further.
You can't drink the water, you can't eat the food and you can't breathe the already polluted air.
What's left.?
Tax the oil companies and use the funds to improve the quality of life for Americans.
Yeah, I have a better idea...lets give them more tax breaks and lets tax the poor and middle class like teachers, who make tons of money.
On a serious note, there is no supply issue right now. Long term there is because oil is a fossil fuel that is being used up faster than its being created. As other countries such as China, India, Brazil and the EU start to get themselves off of oil, we stick our heads in the sand.
It boils down to this...Obama and democrats only want to subsidize oil drilling for Brazil and Mexico.... American's can go jump!!! So far all the administration has done is help other countries while saddling our kids with debt. How many windmill jobs has Obama created in China?
What are the republicans doing? Haven't seen anything from them that will create jobs. They're to busy trying to lower wages and take away workers rights, throw the poor and seniors under the bus. How many jobs has the GOP created here?
What are republicans doing? They had better be trying to cut spending, reducing the deficit and strengthening the dollar or they are getting booted out of office!!!! What are democrats doing?
What a short memory we have. Does anyone, besides those who lost their livelihoods, remember the BP oil spill? The spill BP now says it's not responsible for? The giant tar balls still rolling up on the gulf state beaches?
Easing restrictions on offshore drilling makes about as much sense as firing up the damaged reactor in Japan. So of course we'll do it....
So why is Obama giving Mexico money to drill in the gulf and Brazil money for off shore explorations??? Oh yeah, because he likes them... it's American jobs he hates.
What's the difference drill here or there, it all goes to the world market and Wall St. commodity traders set the price. We pay the same price for a barrel of oil wether it comes from the U.S., Mexico, Brazil, Canada, Or the Middle East.
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Obama prints tons of money with nothing backing it... the more money (debt) the less it is worth....
Oil is pegged to the US dollar...the less the dollar is worth, the higher the price of oil...
I realize that this concept is hard for most democrats to understand but the more debt we have, the higher oil prices will go, as well as the cost of everything else.
You have it backwards. All else being equal is the dollar goes down, the price of oil goes down.
The oil companies are hoarding oil and driving up prices while enlisting morons to complain they aren't allowed to drill.
They currently have 20,000 leases to drill which are not being used.
Anyone feeling a cold and prickly in their shorts?????????
______________________________________________________
Meanwhile, Republicons are still staunchly defending payouts to Big Oil and other big corporate welfare give-aways.
Almost every comment you make brings up race.
I'm beginning to believe you are a racist.
Just think how much repealing tax breaks and closing loopholes for
the oil companies could go toward reducing the national debt.
If congress legislated regulation on speculators and the rest of Wall Street when it comes to buying oil commodities, you would see the price of oil drop like a stone.
On the previous page it was stated that the rate of incidences of asthma has increased considerably and they cannot understand why, because so many people have stopped smoking.
When bush was in office he lowered the emissions standards for industry.
Now the Republicans are proposing that they be lowered further.
You can't drink the water, you can't eat the food and you can't breathe the already polluted air.
What's left.?
Tax the oil companies and use the funds to improve the quality of life for Americans.
On a serious note, there is no supply issue right now. Long term there is because oil is a fossil fuel that is being used up faster than its being created. As other countries such as China, India, Brazil and the EU start to get themselves off of oil, we stick our heads in the sand.
As far as saddling our kids with debt, the Repubs plan adds the the deficit and takes away any safety net for our kids.
Easing restrictions on offshore drilling makes about as much sense as firing up the damaged reactor in Japan. So of course we'll do it....
What's the difference drill here or there, it all goes to the world market and Wall St. commodity traders set the price. We pay the same price for a barrel of oil wether it comes from the U.S., Mexico, Brazil, Canada, Or the Middle East.
Does the bank subsidize your mortgage? No they provide you with a loan.
Like money grows on trees and everyone can afford to go out and simply replace their cars....
But then, he's never had to worry about that, he's always lived off the government dole.