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Thread: Republicans looking out for the rich

  1. #9
    herenorthere's Avatar
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    Last I checked, it was governments that invested uncountable billions into roads and mind-boggling amounts (but not enough) to maintain them. How much does Big Oil spend for that? How much of every town's police dollars go to trying to maintaining order on the roads and how much does Big Oil pay each town? How much of US military spending goes to protecting their turf and how much do they pay for those services? The fact is they didn't pay their way when they made high profits and, with profits now being downright obscene, what's wrong with squeezing them for some of what government has done for them? Gas taxes don't come anywhere near paying the direct costs, let alone all the indirect costs.
    Bruce in CT

    Madness is something rare in individuals but in groups, parties, peoples, ages it is the rule. Friedrich Nietzsche

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    rattler's Avatar
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    for companies of their size they are not making obscene profits....they are making profits that look huge cause they are huge companies dealing with billions of barrels of oil...that comes out of holes that cost $5 million plus to punch............the Feds and States are already pulling millions of dollars out of the oil companies to pay for crap.....there is somewhere in the neighborhood of 400 million gallons of gas sold each day roughly $0.75 cents(some states more, some states less) out of the sale of each of those gallons goes twords taxes paid directly to the states or the feds..........the oil companies are paying plenty in taxes now
    cervid serial killer
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    rattler's Avatar
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    food for thought

    NEW YORK (Reuters) - Exxon Mobil Corp (XOM.N) said on Thursday it is getting out of the retail gas business in the United States as sky-high crude oil prices squeeze margins.

    Those branded service stations may be the most public aspect of Exxon's business, but they account for a small part of the company's profits.

    Out of the roughly 12,000 Exxon Mobil branded stations in the United States, Exxon, the world's largest publicly-traded oil company, owns about 2,220.

    Exxon plans to sell those service stations over several years. They include about 820 stations that it also operates.

    The company will maintain the Exxon and Mobil brands, Exxon spokeswoman Prem Nair said.

    Consumers will still be buying gasoline at stations that carry the Exxon and Mobil names, but they will not be owned by the company.

    Service stations have struggled, even with $4-a-gallon plus gasoline prices because they have not been able to pass along to customers their additional costs from soaring crude oil.

    According to federal data, gasoline prices are up about 31 percent over the last year, and oil prices have nearly doubled over the same period.

    "We are in a very, very challenging market. Margins are reduced," said Nair. "We feel the best way for us to grow and compete is through our distributor network."

    In the current environment, the company's profits from its retail unit are "somewhere close to a rounding error," said Mark Gilman, an analyst at the Benchmark Co.

    He said Exxon was following competitors like Royal Dutch Shell (RDSa.L) and BP Plc (BP.L) in moving away from ownership of service stations.

    "The retail gasoline business is a highly volatile and typically low return kind of business and thus the decision," Gilman said.

    Exxon made more than $40 billion in 2007, most of which came from its oil and gas production around the world.

    "I think the decision came that it's more of a headache than its worth," said Oppenheimer & Co analyst Fadel Gheit.

    Although the company does not release profit margin figures for its retail arm, Gheit estimated the stations' margin was between 10 percent and 15 percent, about one-third its margin on crude oil production.

    "The question is who is going to buy them, and how much are they going to pay for them," Gheit said.

    (Additional reporting by Matt Daily; Editing by Toni Reinhold)
    cervid serial killer
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    I didn't get stimulated but he kept his promise on change, that's about all I got left!
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  4. #12
    herenorthere's Avatar
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    That's why Oscar Meyer's parent company doesn't own hot dog carts. Why invest in the lowest margin, most competitive part of the production chain when you can get a better return elsewhere?
    Bruce in CT

    Madness is something rare in individuals but in groups, parties, peoples, ages it is the rule. Friedrich Nietzsche

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    rattler's Avatar
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    theres more margin in it if your selling your own product than if your not
    cervid serial killer
    Know guns, know peace, know safety. No guns, no peace, no safety
    I didn't get stimulated but he kept his promise on change, that's about all I got left!
    http://www.wolfpointherald.com/--http://www.safety-brite.net/

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    Here's a pretty simple concept here that hopefully everybody will one day understand. Realistically, corporations don't pay taxes. Ever.

    Any taxes a company has to pay to the government are paid with the money that they make off their customers. If a company's taxes are raised, they will raise their prices to remain profitable. If you tax "big oil" they will just raise their prices even more. Ergo when the .gov taxes a company more they are actually taxing YOU more. You should not be happy about such idiocy. Of course people will cheer though.

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    herenorthere's Avatar
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    If governments taxed petroleum at a rate high enough to cover all its costs, renewable sources would be much more competitive. At current tax rates, petroleum use is subsidized because users don't pay all the costs.
    Bruce in CT

    Madness is something rare in individuals but in groups, parties, peoples, ages it is the rule. Friedrich Nietzsche

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    Quote Originally Posted by herenorthere View Post
    If governments taxed petroleum at a rate high enough to cover all its costs, renewable sources would be much more competitive. At current tax rates, petroleum use is subsidized because users don't pay all the costs.
    All of the costs for what? You really glossed over that one.

    And turning food into fuel is completely idiotic from the get go. It's the dumbest idea to come along in a long long time.

    So what other renewable resources do you have? Solar? Not practical/feasible for a daily driver type vehicle. Wind? Can't use that on a car, same with hydro.

    Electric cars powered with electricity from breeder nuclear reactors is a step in the right direction, but people are ignorantly terrified of building more nuke plants.

    There's a new bacteria that has been developed to produce fuel/oil from various types of waste and it shows a LOT of promise, but it's a ways off.

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