Harley, you seem to think that the cost of something has to do with what it costs to produce. That’s only true in communism. In capitlaism, which is the system in place in the US, it has to do with supply and demand (and oligarchic cartels). Closing oil company tax loopholes has been looked at by the CBO, and it would not raise the cost of gasoline my more than a couple of pennies, and would do a great deal of help for America. It would come out of their profits, which have been doing just fine. But the GOP is owned by the oil companies, so until we get rid of that darn superminority in the senate, we’ll have deficits as far as the eye can see.
The so-called tax loopholes have to be explained. Some of what they are referring to seems to be depletion and capital cost allowances, both of which are legitimate costs of doing business in the energy business, and thus tax deductible. The oil companies probably are getting some subsidies, or at least some sweet-heart deductions, but they haven’t been adequately explained.
joe vignone about 12 years ago
How about a Windfall Profits Tax?
ARodney about 12 years ago
Harley, you seem to think that the cost of something has to do with what it costs to produce. That’s only true in communism. In capitlaism, which is the system in place in the US, it has to do with supply and demand (and oligarchic cartels). Closing oil company tax loopholes has been looked at by the CBO, and it would not raise the cost of gasoline my more than a couple of pennies, and would do a great deal of help for America. It would come out of their profits, which have been doing just fine. But the GOP is owned by the oil companies, so until we get rid of that darn superminority in the senate, we’ll have deficits as far as the eye can see.
cjr53 about 12 years ago
Unless he’s part of the 1%, then they’ll cut his taxes some more. it’s the republican way you know.
Redeemd about 12 years ago
Umm, I’ll take the can of gas. At least it has value unlike our money!
Gypsy8 about 12 years ago
The so-called tax loopholes have to be explained. Some of what they are referring to seems to be depletion and capital cost allowances, both of which are legitimate costs of doing business in the energy business, and thus tax deductible. The oil companies probably are getting some subsidies, or at least some sweet-heart deductions, but they haven’t been adequately explained.