Obama to drop tax benefits for oil companies...not so fast says dems? - Page 2 - Think Tank - SECTalk.com - Page 2

Jump to content

Welcome to SECTalk.com

Welcome to SECTalk.com -- The Home of 6 Straight National Titles!

You are currently accessing our site as a guest which means you can't access all of our features such as social groups, sports betting, and many more. By joining our free community you will have access to all of these great features as well as to participating in our forums, contacting other members, and much more. Registration only takes a minute and SECTalk.com is absolutely free, so please join today!

If you have any problems registering or signing in, please contact us.

Obama to drop tax benefits for oil companies...not so fast says dems?

- - - - -

This topic has been archived. This means that you cannot reply to this topic.
17 replies to this topic

#16
Show Stopper

Show Stopper

    I run this show...

  • Members
  • PipPipPipPipPipPipPipPip
  • Posts:
    3,514
  • Joined:
    Sep 2009
  • Cash:
    0
  • High Fives:
    1,555
Repealing the tax breaks given to oil companies would do nothing as they wouldn't want to see a cut in their profits so they would just end up raising gas prices to even it out.

If a company loses a source of income, they aren't going to simply just keep selling things the way they are.  Changes will be made.  In this case, higher gas prices..  It does nothing really.

Personally I'd like to see the U.S. tap our own oil lines and our reserves to counteract gas prices and cause the people selling us oil to drop the prices to remain competitive and making money.  Supposedly we harvest more oil here in the U.S. than we consume.... so why are we so dependent on foreign oil then?  Makes zero sense.
Posted Image

#17
NextYearIsHere

NextYearIsHere
  • Members
  • PipPipPipPipPipPipPipPipPip
  • Posts:
    5,372
  • Joined:
    Sep 2007
  • Cash:
    0
  • High Fives:
    1,277

View PostBlackSheep 171, on 29 March 2012 - 08:27 PM, said:

Obama came out and made his speech this morning how American oil companies don't need their tax breaks anymore because they are making too much profit. He also pushed 'green energy' again, which is yet to make a jet take off (has anyone seen that with anything besides a fuel made from oil)

1st problem I have is.....they are private owned companies producing and selling a commodity. The Govt shouldn't be able to interfere because of profits, sure if they are doing something illegal, then by all means, step in and correct the situation.

2nd problem is that prices would go up at the pump even higher if the oil companies lost their tax breaks.

To me it was funny when a few hours after his announcement that the democratic lead Senate vetoed the bill. Nice to see the democrats shrugging off Obama.

Attachment NOBAMA.png


This post is complete BS. It was the GOP, not the Dems, that killed this. Here are 2 links and a video, but I could post 50. They had a graph that showed those voting against the subsidies received about $5 million in Big Oil and those voting to keep them received about $23 million.

Sorry charlie, its mostly the GOP talking out both sides of their mouths here. They're the ones that want to keep your tax dollars going to Big Oil so they can keep their pockets full on donations.

Even George W. said we don't need to be giving Big Oil 20 Billion when he was president. Get the story right next time.



http://online.wsj.co...2842454412.html

http://www.cbsnews.c...-oil-subsidies/

http://www.msnbc.msn..._show/#46900059
Posted Image

You have received an infraction at SECTalk Forums.
Reason: Inappropriate Language and Going Off The Deep End ~ GAMECOCK_FAN

Just another ho hum racial and political day on SECTalk, nothing to see here. ~ Tider27

Best Rivalry on SECTalk? "NYIH vs everybody else in the Political Forum..." ~ DELTOR

#18
aTm 82

aTm 82
  • Members
  • PipPipPipPipPipPip
  • Posts:
    895
  • Joined:
    Oct 2011
  • Cash:
    0
  • High Fives:
    356
More than 70% of the crude refined here in Texas is put back on a Tanker and shipped out of the country not just as gasoline but also as Diesel, Jet Fuel, Kerosene, Heating Oil, Motor Oils and other petro chemical products.
The Citgo Refinery here in Houston is owned by the Venezuela Government ran by Hugo Chavez who hates America. Which is why you should never buy Citgo gasoline and heating oil. Their company spokesman is Joe Kennedy and a bunch of back stabbing Democrats.
   Al Gores family money is from the majority stock ownership in Occidental Petroleum, while the dumbasz was selling off setting carbon credits to even dumber Americans, he is getting rich off of Petro.
Not surprised the Dems spanked Obama on the the Oil Company subsidy at all.
   The gas that is sold in Mexico is gas made right here in America but it is 2.96 a gallon=$10 liter(3.79 gallons)
Yes the Govt. of Mexico controls the price of gas, so they control how much money the oil companies make.
In Kuwait and Saudi Arabia the price is about 19 cents a gallon.
   Obama has said before that he wanted Oil prices to go up so people would invest in green energy and get off of oil. The higher the fuel prices the more people invest in alternatives. The more the oil goes up in price the more money they make because they are all invested in oil and gas companies.
   Obama is a dumbass, with no energy policy just like Bush he is making rich people and oil companies richer.