If you voted FOR Big Oil tax breaks STFU about Govt spending from here on in.

[FarLeftFist]

/rant

[badtoworse]

1. Do you think the oil companies would have eaten the increased costs if the tax breaks went away?

I don't. They would have passed the higher costs onto consumers.

[Bonhomme Richard]

2. Then let them be honest thieves. n/t

[badtoworse]

3. That is not my point

I don't believe for a minute that taking away their subsidy is going to lower our taxes. If they pass the cost on to consumers, then we have to pay more for gasoline and heating oil. That's a net loser in my book.

[nobodyspecial]

4. May not lower taxes, but it will free up a substantial amount of money for other projects

like rebuilding aging infrastructure, starting with bridges on the risk list. Oil companies are making BILLIONS. I'm sure they can take the hit. Let the magic of the free market work -- or is that only in play when it comes to regulation.

Also, consumers do exercise some control over how much gas they use.

[badtoworse]

5. It might accomplish that and it might not

I do not have much confidence that the government would spend the money in a way I would find beneficial. If it's a choice between paying less for fuel and taking a chance on government spending, I'd prefer the cheaper fuel.

[MichiganVote]

6. I think you're dreamin'. Taint't going to be "cheaper" fuel in the future

They know it and we know it. No sense giving away entitlement amount to oil companies. As people drive less, they hardly adjust their profit margins. Instead they expand them. Hard to look a good meal ticket like the taxpayers in the eye. So they use their political hacks and lobbyists to do the job for them.

[badtoworse]

8. That's what I thought about natural gas prices a few years ago

Look at what's happened in the last 10 years. In 2001, the price hit $13 or $14 per MCF. In 2005, it averaged around $8.50. Today, the cash price is around $2 and I heard that in the Marcellus region, some transactions had gone off at a buck or less. There is so much gas around right now that producers are shutting in wells because they're not making enough money to cover their costs.

Five years ago, I would have said that was impossible.

ETA: I'm confident that the same techniques that have produced such abundant natural gas supplies can be used to increase the domestic supply of NGL's and petroleum. It's hard to say though if that will be enough to move the needle on the price of crude, since it's sold on the world market and can be transported a lot more easily than natural gas. In any case, we need more refining capacity in the country. That is becoming a problem that will get worse if action is not taken.

[libtodeath]

10. I would trust a progressive government to take better care of my interests then an oil company

that just wants every last penny I have.

[badtoworse]

12. That's not the choice

It's a choice between you taking better care of your own interests and the government taking care of those interests. I'd rather do it myself.

[libtodeath]

13. Bullshit and you know it so spare me the rw crap

If all of us were left to fend for ourselfs then there would be no justice.
That is why the founders designed a government rather then a pull yourself up by your bootstraps mob.

[badtoworse]

14. Try to focus here

This is about the money associated with subsidies given to the oil companirs; not mob rule. Follow the money and get back to me.

[libtodeath]

15. That garbled response is what I expected when your back was against the rw talking points you spewed

Focus huh,seems like you are trying to shift the focus.

[badtoworse]

16. So you'll happily pay more for gasoline ...

Knowing the government is getting the difference in tax revenues. At that point, you've lost control of the money. What if they spend it on another war?

[libtodeath]

17. What if they also provide a job to a person working on our infrastructure?

It is why we have elections and why we fight for what is right and progressive rather then saying give me mine and piss on all you.

[badtoworse]

18. That word "if" is the problem.

How many administration in the last 30 or so years would have actually done that? None, IMO. Even if there were one or two, the others would have pissed the money away. I'm a believer in keeping money in the people's hands (you know, the 99%).

[ErikJ]

7. $1 Trillion PROFIT over 10 years

Cutting $2.5 billion subsidies a year wont make a difference.
We need to nationalize our oil to break their iron grip on our country.

[badtoworse]

9. What was their return on invested capital?

Without knowing that, $1 trillion means nothing.

[raouldukelives]

11. Welfare for the wealthy is the backbone of our system.

One could only imagine the horror they would feel if they had to fend for themselves. That's what common people who don't own politicians have to deal with.