Just Paid $4/g for Petrol Today

[CJ]

Taxes is where most of that price difference comes from.


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Exxon makes approx $0.02 per gallon. It's eaten up my taxes, production, refinement, transportation, etc. A lot of people tell me that $0.02 profit on each is bullshit with how much money they make. I ask them how many companies do they buy their product 20-40 times each week? Not to mention 95% of all people in the country are avid customers.

[Downs]

Yeah that's what I was saying is that the big difference in price for them vs us is the insane taxes they pay in Europe.


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[Lone Sailor]

Exxon makes approx $0.02 per gallon. It's eaten up my taxes, production, refinement, transportation, etc. A lot of people tell me that $0.02 profit on each is bullshit with how much money they make. I ask them how many companies do they buy their product 20-40 times each week? Not to mention 95% of all people in the country are avid customers.

I'll try to show more compassion about their tiny .02/gallon profit when the $4 BILLION in tax breaks that the big 5 oil companies get annually goes away.

[CJ]

I'll try to show more compassion about their tiny .02/gallon profit when the $4 BILLION in tax breaks that the big 5 oil companies get annually goes away.

You're buying into the liberal arguments my friend. Do some research and find out why that's a joke. They pay more in taxes than money they make. They are the highest taxed businesses in the world. And US has the highest corporate income tax in the world on top of that. $4 billion in tax breaks for the top 5 oil companies is laughably insignificant in what they pay. If they don't make a profit, why the hell would they do business here? If they don't make the money they want, they leave and our economy crashes.



To sum it up... if you make $15000 a year, and you pay $14000 in taxes, but I give you a $1000 tax break... and tell all the other people who make $5000/yr that you get a $1000 tax break does that make any damn sense? Sounds great, uneducated people buy it every day (yourself included).

[Chas_svo]

There is no less water on earth today than there has ever been.

While this is true, the fact that frac companies are pumping 3-4 million gallons of surface water per well below the surface is freaking scary, although this has nothing to do with the rest of this somewhat derailed, and totally screwed up thread.

Carry on...

[CJ]

While this is true, the fact that frac companies are pumping 3-4 million gallons of surface water per well below the surface is freaking scary, although this has nothing to do with the rest of this somewhat derailed, and totally screwed up thread.

Carry on...

There are trillions of gallons of water beneath our surface, and it's always been there. The trade off was natural gas prices dropping from $8/lb to $1.17/lb or so.

[Lone Sailor]

You're buying into the liberal arguments my friend. Do some research and find out why that's a joke. They pay more in taxes than money they make. They are the highest taxed businesses in the world. And US has the highest corporate income tax in the world on top of that. $4 billion in tax breaks for the top 5 oil companies is laughably insignificant in what they pay. If they don't make a profit, why the hell would they do business here? If they don't make the money they want, they leave and our economy crashes.

Exactly, they're not losing money, and far from it. If they were losing money they wouldn't be in business, but that doesn't mean they need a tax break handout. I've been conservative my entire life, but I'm not blind to the fact that our Government has their hands in everything, including bolstering prices of goods through taxation, but that doesn't give these companies the right to free reign. Based on that image you posted, which who knows where it came from or if the information is even accurate and also doesn't show 2010 or 2011, Exxon's 3rd quarter profit for 2011 of $10.33 BILLION would be cut to a paltry $5+ BILLION if their current tax rate was 50%, so $4 billion in tax breaks would be about $750 MILLION each when divided by 5 companies. I wouldn't call that insignificant, especially since WE are the ones paying for it. But yeah you're right, that's a down right crying shame.

I still stand by my statement, if the $4 billion goes away that we are subsidizing them with then I will try to show some compassion for their profit margins.

[CJ]

Exactly, they're not losing money, and far from it. If they were losing money they wouldn't be in business, but that doesn't mean they need a tax break handout. I've been conservative my entire life, but I'm not blind to the fact that our Government has their hands in everything, including bolstering prices of goods through taxation, but that doesn't give these companies the right to free reign. Based on that image you posted, which who knows where it came from or if the information is even accurate and also doesn't show 2010 or 2011, Exxon's 3rd quarter profit for 2011 of $10.33 BILLION would be cut to a paltry $5+ BILLION if their current tax rate was 50%, so $4 billion in tax breaks would be about $750 MILLION each when divided by 5 companies. I wouldn't call that insignificant, especially since WE are the ones paying for it. But yeah you're right, that's a down right crying shame.

I still stand by my statement, if the $4 billion goes away that we are subsidizing them with then I will try to show some compassion for their profit margins.

You missed the point. What happens if the oil companies decide $0.01 isn't enough profit for them, and they withdraw from our country? The majority of that money is made from other countries.