Congress just raised the price of gas

[bj229r]

Tax credits are used to GET big evil corporations to do stuff that they otherwise wouldn't do--drill in a certain area, develop some new blend of fuel..etc, but if ya take said credit away, all that happens is they quit doing whatever the credit encouraged to begin with

Democrats said the energy package is a step toward weaning the nation off fossil fuels and their emissions, which many scientists blame for global warming. They also say the proposal will create jobs in the growing renewable energy industry.

"Energy independence is a national security issue, an environmental and health issue, an economic issue and a moral issue," said House Speaker Nancy Pelosi, California Democrat. "We must strengthen our national security by reducing our dependence on foreign oil."

The two bills in the package offer tax credits and incentives for research, development and production of clean energy from renewable sources such as solar, wind and geothermal, as well as biofuels and hydroelectric power. It rolls back about $16 billion in tax breaks for the oil industry to finance these incentives.

[Masherbrum]

Originally posted by john9001
hurt "big oil" where it hurts, stop driving your cars.


what? you say you "have" to drive your car?

More effective yet,   stop electing Republicans and Democrats into office.

[LePaul]

The Dems are appealing to their kook fringe, they feel punishing the oil companies for being successful is the way to make people happy.

We all just took a little step to be more like Hugo Chavez.

Tards.

[LePaul]

Originally posted by Masherbrum
More effective yet,   stop electing Republicans and Democrats into office.

Then what's that leave?  Professional protesters?  Pass.

[VWE]

Actually if you read what they did.. They took away 16 billion in subsidies that big oil gets. You know those guys that have raised the price of gas to the most expensive it's ever been and have been raking in record profits while doing it.

How bout doing a little research yourself and break down a gallon of gas for us. In that price the oil companies are making on average .09 cents profit while the good ol' government is taking .40 cents for taxes. Also a good portion of those profits the bad ol' oil companies make gets reinvested into looking for... yes, more oil.

I love watching the cut n paste crowd express their points of view on topics they have difficulty comprehending... let me go refill my coffee cup.

[Masherbrum]

Originally posted by LePaul
Then what's that leave?  Professional protesters?  Pass.

Of course, they're both doing a "bang up job" ripping thise Country off blind.    Hell, the Candidates Campaign Budgets could go towards Education or Veterans Benefits/VA System.    Nah, makes too much sense.

Piss on the two-party system, they piss on the Veterans, and the rest of America.

[Nilsen]

Hehe im just here to read and subscribe to the thread. Dont want to let this one pass me by  

Carry on...

[Dago]

We conseratives have been warning everyone that demonocrats would raise taxes, and nobody would listen.

Reap what you sow.

[crockett]

Originally posted by bj229r
Crockett are you under the impression that Congress can diminish the profits of oil companies even 1 penny?

No but you seem to be under the impression that Congress can raise the price of gas.

[crockett]

Originally posted by LePaul
The Dems are appealing to their kook fringe, they feel punishing the oil companies for being successful is the way to make people happy.

We all just took a little step to be more like Hugo Chavez.

Tards.

When a person is on welfare, because they live below the poverty line in this country. Do you call it punishing them if they make enough money to not need welfare?

Do you think the govt should just keep on paying welfare to anyone whom had it before, no matter how much they make today? Maybe they made 15k last year but made 30k this year. Should that person still get welfare?

Yea I didn't think so..

Funny how you right wingers hate anything to do with social programs because of the big evil "soicialism". Yet you never seem to mind when the govt gives away money to big business..

[bj229r]

Originally posted by crockett
No but you seem to be under the impression that Congress can raise the price of gas.

They just increased the cost of Shell oil, Exxon, etc of doing business.....do ya think they are simply gonna shrug to themselves and say, "I guess we won't make QUITE as much money as we did before"---they will pass the cost of doing business on to you and me....well..mostly Laz, as he seems to have the biggest gas hog:D

[crockett]

Originally posted by Dago
We conseratives have been warning everyone that demonocrats would raise taxes, and nobody would listen.

Reap what you sow.

Exactly what taxes did they raise?  Maybe they didn't teach reading and comprehension in your school.

[crockett]

Originally posted by bj229r
They just increased the cost of Shell oil, Exxon, etc of doing business.....do ya think they are simply gonna shrug to themselves and say, "I guess we won't make QUITE as much money as we did before"---they will pass the cost of doing business on to you and me....well..mostly Laz, as he seems to have the biggest gas hog:D

Then put the blame where it lays. At the door step of big oil. Why don't you blame the Republicans for getting us into a war in Iraq and slowing down the flow of oil?

Seems to me if you want to blame anyone for raising the price of gas you should be blaming George Bush.. How much was gas before we went to war in Iraq?

[bj229r]

Originally posted by crockett
Then put the blame where it lays. At the door step of big oil. Why don't you blame the Republicans for getting us into a war in Iraq and slowing down the flow of oil?

Seems to me if you want to blame anyone for raising the price of gas you should be blaming George Bush.. How much was gas before we went to war in Iraq?

Im not aware that Iraq and the price of gas have ANYthing to do with each other---price of oil/gas can be layed at the vast increase of usage by china and India in last few years, (also whenever there is talk of invading Iran)which tightens markets, as well as limited refinery capacity HERE, just no room for slack

 

Speaker Pelosi says that HR 3221, the New Direction for Energy Independence, National Security and Consumer Protection Act “puts us on a path towards energy independence, strengthens national security, grows our economy and creates new jobs, lowers energy prices and begins to address global warming.”

How does the bill propose to move us towards energy independence? It purports to do this by expanding production of “homegrown fuels such as cellulosic ethanol and biodeisel” and by incentivizing the development of plug-in hybrid technology. Both of these provisions are gambles with the future. Cellulosic ethanol is an untried technology, with great potential, but as yet non-existent in a commercially viable form and with serious logistical problems involved that will require massive amounts of transportation fuel themselves.............

• il-industry engineer Robert Rapier, who has spent years studying cellulosic ethanol, says that the difference between ethanol from corn and ethanol from cellulose is "like the difference between traveling to the moon and traveling to Mars." And even if the engineering hurdles can be overcome, there's still the problem of land use: According to Rapier, replacing fifty percent of our current gasoline consumption with cellulosic ethanol would consume thirteen percent of the land in the United States - about seven times the land currently utilized for corn production.................

   link

The bill proposes a number of tax code changes that would raise taxes paid by companies working to expand oil and natural gas supplies. The changes include punitive measures that eliminate or reduce some existing deductions against income from energy production, most notably the manufacturer's deduction created by the American Jobs Creation Act of 2004. This deduction, which applies to domestic industries, would be modified to exclude oil and natural gas activities.

Unfortunately, the House tax measures would likely reduce supplies and increase prices in the years ahead by discouraging investment in domestic production of oil and natural gas. This was clearly the lesson of the disastrous windfall profits tax of 1980, which, according to the Congressional Research Service, "reduced domestic oil production from between 3 and 6 percent, and increased oil imports from between 8 and 16 percent. This made the U.S. more dependent upon imported oil."[2] The latest tax increases will also have a negative impact on badly needed domestic production.

Much of the extra revenues generated from the energy bill's new taxes would be used to subsidize politically correct alternatives like ethanol, wind, and solar energy. The bill includes both tax incentives to build the plants that generate alternative energy and tax credits on the energy sold. These policies have been tried before, with dismal results. The 30-plus-year history of federal attempts to encourage alternative energy technologies contains numerous failures--such as electric cars and solar energy--and few, if any, successes.

Congress never seems to learn that these alternatives have serious economic and technological shortcomings, which is why they need special treatment in the first place. The bottom line for consumers is that federal attempts to pick winners and losers among energy sources leads to higher costs.

Restrictions on Domestic Production

The energy bill contains other measures that would further hamper domestic energy production, especially on federally controlled areas in the West and offshore.

The United States has significant amounts of domestic energy that are locked up--either access to the land is restricted outright or it is subject to burdensome regulations that effectively make it so. Also, 85 percent of America's offshore areas are restricted. The first order of business in any real energy bill would be to streamline or eliminate these provisions, but the House is moving in exactly the opposite direction by adding to them.

For example, the bill would restore the need for redundant and overlapping environmental reviews under the National Environmental Policy Act. Other measures would pile on more red tape and extend the delays surrounding domestic oil and gas projects. The bill would also slow efforts to develop shale oil, a potential long-term substitute for petroleum for which test projects are underway.[3] Many of these measures rescind useful reforms from the 2005 energy bill that were just beginning to have an effect. Perhaps worst of all, the bill seeks to add to the already massive amount of land on which energy production is forbidden.

[VWE]

Hmmmm, funny... the average price of gas per gallon in Feb. of '03 in California of all places was $1.92 and by Dec. of that year it was $1.52! Oh how could that be? We were at war with Iraq and prices for gas were dropping? Gee, I guess that theory for blaming the war on Bush goes out the window.