Web_Team's Blog

We may as well face it..consumers are caught between radical environmentalists, who don't want us to access oil reserves in our own country, and "big oil" that will take every dime that we are willing to donate, whether at the pump, or in the form of tax breaks.

For years the oil companies have received huge tax breaks under the guise of needing them for development of cheaper fuels and exploration. When are we as consumers going to see some results from all the tax breaks. No oil company whose CEO receives outrageous wages, bonuses and posts billions in profits should receive tax breaks. If they receive a tax break this year and fuel prices remain ridiculously high, then next year they should owe not only current tax but the past year's tax. There should be a time limit on results.

WELL DUH!! NOT NO, BUT HELL NO!!!!!!

Well if they feel they need the 18 illion tax break, than the oil companies and the government should give us a tax no just in pennies

Just as a devil's advocate, let's look at another subsidy program headed to the White House right now- the Farm Bill.

The O&G tax breaks total 18 Billion over 10 years. The Farm Bill gives wealthy landowners 287 BILLION over 5 years. There is a small amount allotted to Food stamps and evironmental protection, but fiscal conservatives, advocates for the poor, and environmentalists are all fighting this boondoggle! Bush has threatened to veto, but the pressure is on. 70% of farms get NOTHING. The bulk of the money goes to only 19 of the richest districts, including the King Ranch in Texas. Look it up.

I'm not defending the O&G tax breaks, I don't have enough info to do that, but it's probably a wash- they will just pass the costs on to us, anyway. Big corporations don't pay taxes, people do. So, 18 B over 10 years, or 287 B over 5 years- where is the hue and cry about that? It seems like this is just a way for politicians in Congress to look good, when they are actually supporting much larger and less useful subsidies, elsewhere. Just some perspective.

It seems that some folks want to "stick it to big oil", but this doesn't follow what we learn in Business 101. Corporations don't pay taxes, taxes get passed along to consumers in the form of higher prices.

Increasing tax payments by the oil companies will not save us a penny. Prices will go up and we will pay more. Petroleum is also a strategic resource and is required for our nation's survival. There has to be some value in making sure that we don't make the US a non-competitive environment for oil companies.

If you want in on oil company profit, invest in oil companies. Through a little research I found that my 401K mutual funds have investments in energy companies, including 'big oil'.

As to the trucker's strike, they aren't hurting anyone but the consumer. The fuel costs get passed along to the consumer in the higher cost of goods. They will buy fuel if they want to stay in business, so the oil companies won't be impacted at all.

Freight trains are also fueled by diesel. Commercial Aviation is fueled by petroleum. Are they going to go on 'strike' too? Not if they want to stay in business. Again, the consumer pays for the higher cost of fuel. If I waste my gas driving to the store only to find that they have no product due to some silly gesture by some folks that can't seem to adjust to the higher cost of materials, who is that hurting?

Its too bad when the only phone replies are against the oil company.
Proving once again that most people do almost zero investigation & make opinion based only on how it affects their pocketbook & sound bites not factual investigation.

The problem is that it's not JUST the oil companies! ALL companies that have profits in the BILLIONS get tax breaks! If you're poor, you get stuff for free. If you're "middle-class" you pay through the nose. If you're rich, you find and get every break you can find! AAAHHH!!!! The American way... isn't it great? The only saving grace is this: we complain and b!$ch about how screwed we are in this country and then we take a look at some other places on this earth and we become grateful for what we have.....