Should Uncle Sam Take Oil Company Profits?

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Hello. A man is too apt to forget that in this world he cannot have everything. A choice is all that is left him.
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With respect 8-), Tabina.

Tabina of UT 7:23PM February 22, 2009

It's unrealistic to blame greed for problems in the market place; whoever heard of a major oil company or its shareholders being motivated by greed? And to think that the elected officials would spend their tax revenue on the good of the"end using consumer" (who is paying for either obscene profits or money in the coffers of those spendy Democrats, who we all know were in charge of the executive and legislative branches of our government as we augered into the financial pit we're in today). Look what Exxon has done for the public? They brought us the Valdez, and even a photo opt clean-up effort.
OK, I'll cut the crap: these guys care about as much about our country as China. We're to be used to their maximum benefit; if they can squeeze a penny from us, we have value. Otherwise, we're not. Do they help in catastrophes? Are they there to bail out our country when we're on the brink of depression? No. They are trans-national, and the U.S.A. is just another customer base (with a military to protect them as they continue to get all their/our energy from hostile locations).
Don't mess with their market-place sacred profits? Beans. It might make them mad and they would go someplace else.

Major T. Farfel, retired USAF of NM 3:25PM January 09, 2009

The oil industry has to be the most misunderstood industry. I hated thier profits too, until My finance research project had to do with comparing thier profits againts other major industries. Guess what, they were not the top money makers. Not to mention they reinvest over 100% of thier profits into future exploration and upgrades to thier current assets. If they didn't not only will they not secure thier profits for the future but they will also not be able to provide the energy needs of the US. Yes, it is a love/ hate relationship. We love to use our energy, we just hate to pay the guy that gives it to us. Also, did you know they paid more for gas in 1950, then we do today (take into account inflation). We just use more, so it cost us more. Amazing what a little research can tell you. The truth is out there.

Misunderstood of TX 4:51PM July 03, 2008

FYI:This would be great!
Secretly behind closed doors the final resolutions are being put together to set the next phase of Energy Independence for the US.
This Month the motion is being put forth to set standards on auto production / numbers for alternative requirements for all Auto Manufactures selling Light Trucks and Cars in the US, a specific time line will be imposed on all. This will send significant waves through the Oil Market as need for cured will significantly be reduced / the US market could even at the 2025 Mark support its own demand.
2015 – 25% of all Light Trucks and Autos sold in the US must run on alternative fuels.
2020 – 50% -
2025 – 75% -
2030 – 95% -
Would not hold onto my Oil stocks too long!

Bruce of NV 4:22PM June 23, 2008

maybe american oil companies should help the federals with their conservation effort and quit selling petro products to the government and only sell to individuals, then the government can lead the way to alternative energy by example, enjoy your walk uncle sam.

polecat of GA 12:33AM June 21, 2008

maybe american oil companies should help the federals with their conservation effort and quit selling petro products to the government and only sell to individuals, then the government can lead the way to alternative energy by example, enjoy your walk uncle sam.

polecat of GA 12:32AM June 21, 2008

GREED,GREED,GREED
Who cares no one? We the people pay it all and those big fat cats go home rich and we suffer. GREED,GREED,GREED. One day we the people will win over the big fat cats.

Jim of DC 1:14PM June 12, 2008

GREED,GREED,GREED
Who cares no one? We the people pay it all and those big fat cats go hame rich and we suffer. GREED,GREED,GREED. One day we the people will win over the big fat cats.

Jim of DC 1:08PM June 12, 2008

All I see is the greed of those who want a product produced by someone else to be forcibly provided to them on terms favorable only to themselves. This is done without consideration of what it took to make the product and what it costs to insure the ongoing supply of the product. Whether the government sanctions it or not this is stealing by force or simply extortion. Watching McKinney, a representative of GA, threaten the oil companies with nationalization if they did not perform for congress sent chills up my spine.
You choose the lifestyle that determines your need for a product. If you want the best price the competitive free market has to offer I suggest you write your legislators to get government out of the way of production. If you want the government to step in to give you the best price it can manage, remember that no one in congress has the slightest idea of how to produce a single barrel of oil. With that in mind what would you expect to happen to an oil industry run by them?
You either want a free society or not, there is no such thing as free for some and not others.

Robert Oglesby of NC 10:20AM June 06, 2008

How many gallons of reg gas did oil companies sell in 2007 U.S.?
What was the average consumer end user cost per gallon of reg gas in 2007 U.S.?
How much fed tax did the oil companies pay in 2007?
I believe our fed 'representitives' own 100% of the responsibility for our economic situation by their excessive tax burden placed on our marketplace. They are acting like illustionists by misdirecting our attention away from their misdeads while blaming our marketplace in whole or in part.
I'm trying to get an idea of how big the fed tax burden is. I suspect it is excessive to the extent it is miraculious that we are doing as well as we are.
It is ignorant, immature and irresponsible to choose to believe that any burden placed on our marketplace is not borne by us, the end using consumer.
If our 'representitives' are aware of what they are doing then they are guilty of treason and deserve prosecution in the extreme (like rotting in Hell).
Cheers.

John Snyder of MT 10:43AM May 27, 2008