Changes to Oil Industry May Hurt Houston

Obama's all out assault on capitalism. Make no mistake ... Obama is a afro-centric socialist intent on bringing down the white middle class ... just as his "uncle" Wright preached for 20 years. By destroying america's energy production, and printing dollars, there will be plenty of pain in Obama's socialist america .... while he jets to Paris and Las Vegas for dinner and a movie with his socialist wife.

His attack on energy will do three things.

1. When he removes the tax break from drilling for new gas and oil, they will stop looking, when you stop looking you stop finding. I guess we will just buy more from the Arabs.

2. With an estimated 30% cutback in exploration there goes some more jobs.

3. you don't really think the corporations will take the money from their investors to pay the taxes do you. They never do, you just raise the price and the consumers (that would be us) will pay the tax in the form of higher gas and oil prices.

Thanks again O'bama.

Who cares what happens to Houston? When is Texas going to secede?

John wrote:

His attack on energy will do three things.
1. When he removes the tax break from drilling for new gas and oil, they will stop looking, when you stop looking you stop finding. I guess we will just buy more from the Arabs.
2. With an estimated 30% cutback in exploration there goes some more jobs.
3. you don't really think the corporations will take the money from their investors to pay the taxes do you. They never do, you just raise the price and the consumers (that would be us) will pay the tax in the form of higher gas and oil prices.
Thanks again O'bama.

Of course the price of gasoline will rise. It is exactly what Obama and liberals want. Wasn't but a few days ago Obama brought up the old liberal line about america using 25% of the world's resources, and only 4% of the world population. He is here to bring america down ... so it is more "fair"
Prepare for socialism ... and the poverty that comes with it.
When everyone is poor but Obama and government elite ... all will be "fair"

American wrote:

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Typical Blue State hate and intolerance.

You're the ones who stated you no longer want to be part of the United States.

So, secede already.

Richard S wrote:

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You're the ones who stated you no longer want to be part of the United States.
So, secede already.

I sure with that was a possibility, but it is a joke to think about it. No way it would be allowed.

Would be interesting though, states with low taxes who expect people to pull their own weight and not be dependent on the government teat. The liberals could just show us how it is done, they could in their states run things like they want and end up with socialism and low standard of living for everyone and they could dream about having success like the conservatives have in their states. Only in my dreams.

Of course it did not used to be dreams, it was the way the country started, you run your state like you want and we will run ours, the federal government stayed out of it and was small, having just a few taxes. That is why they called it the great experiment.

American wrote:

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No one I associate with, or voted for, has ever expressed a desire to secede from our great country. Are you stereotyping? That is not tolerant.

This issue ws raised by YOUR governor. It is an idea worth pursuing. Of course, that would mean the end of any $$ assistance from the Feds.,- you know, when you have tornado damage or flood damages - not more $$ from us.

FEMA alone has dumped more than $3.5 BILLION into that cesspool of a state since 2001.

Yes - Texas should secede. ASAP.

American wrote:

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No one I associate with, or voted for, has ever expressed a desire to secede from our great country. Are you stereotyping? That is not tolerant.

How about the socialists, ultra liberals and illegals seceding.

Glasnos wrote:

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Of course the price of gasoline will rise. It is exactly what Obama and liberals want. Wasn't but a few days ago Obama brought up the old liberal line about america using 25% of the world's resources, and only 4% of the world population. He is here to bring america down ... so it is more "fair"
Prepare for socialism ... and the poverty that comes with it.
When everyone is poor but Obama and government elite ... all will be "fair"

Hold up there - it was alittle over a year ago that gas prices in some areas were over $5.00 a gallon, and it's nowhere that bad right now.

When companies such as Exxon / Mobil were recording multi-billion dollar profits, why could they not use those billions in profits for exploratory drilling, instead of acquiring tax breaks to keep their costs low? Why do the taxpayers have to pay for them to find a product they currently don't seem to have?
You've been exposed to the astronomical prices of gas while a former "oil" businessman was in power in the White House - why did he even allow the prices to get that far out of hand?

And how could you possibly say - "give them tax breaks" when you pay twice - in tax breaks to these companies, AND at the pump?

TonyT1961 wrote:

<quoted text>
Hold up there - it was alittle over a year ago that gas prices in some areas were over $5.00 a gallon, and it's nowhere that bad right now.
When companies such as Exxon / Mobil were recording multi-billion dollar profits, why could they not use those billions in profits for exploratory drilling, instead of acquiring tax breaks to keep their costs low? Why do the taxpayers have to pay for them to find a product they currently don't seem to have?
You've been exposed to the astronomical prices of gas while a former "oil" businessman was in power in the White House - why did he even allow the prices to get that far out of hand?
And how could you possibly say - "give them tax breaks" when you pay twice - in tax breaks to these companies, AND at the pump?

They could use their profits for exploratory drilling but the share holders might rather have the profits. You see if you spend the money looking and don’t find it then the share holders who own the company looses the money. If you don’t spend the money looking and only spend money selling what you have already found you can’t loose. Tax payers are not paying them to find oil by giving them a tax break. They are just giving them incentive to do it.

There is also a simple reality working, if you want less of something tax it, if you want more of it do the opposite. We want more US sources of oil so we give tax breaks. We could wish it were not that way all we want but the fact is that it is.

TonyT1961 wrote:

<quoted text>
Hold up there - it was alittle over a year ago that gas prices in some areas were over $5.00 a gallon, and it's nowhere that bad right now.
When companies such as Exxon / Mobil were recording multi-billion dollar profits, why could they not use those billions in profits for exploratory drilling, instead of acquiring tax breaks to keep their costs low? Why do the taxpayers have to pay for them to find a product they currently don't seem to have?
You've been exposed to the astronomical prices of gas while a former "oil" businessman was in power in the White House - why did he even allow the prices to get that far out of hand?
And how could you possibly say - "give them tax breaks" when you pay twice - in tax breaks to these companies, AND at the pump?

And how can you talk about big oil tax breaks when exxon paid $300 billion in income taxes ... some 42% of their profits? Plus they tax those profits again on dividends ... plus other taxes and fees ... plus taxing the end product, and making more per gallon than the company that explored, drilled, transported, refined, transported and retailed the gasoline? The "profiteering" is done by the federal government ... not the oil companies.

You take away incentives for oil companies to risk exploring for new oil ... it will result in less exploration and new oil .... EXACTLY what the democrats want ... so gas goes to $5 + and they can get you to buy the tinkertoy cars they will be forcing GM to make.

John wrote:

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They could use their profits for exploratory drilling but the share holders might rather have the profits. You see if you spend the money looking and don’t find it then the share holders who own the company looses the money. If you don’t spend the money looking and only spend money selling what you have already found you can’t loose. Tax payers are not paying them to find oil by giving them a tax break. They are just giving them incentive to do it.
There is also a simple reality working, if you want less of something tax it, if you want more of it do the opposite. We want more US sources of oil so we give tax breaks. We could wish it were not that way all we want but the fact is that it is.

If they are not paying their fair share of taxes by recieving tax breaks, make record profits, and then wish to keep (the shareholders) their money instead of re-investing in new sources of oil, then the taxpayers ultimately pick up the tab. When revenue decreases, as when large companies recieve these tax breaks, the lost revenue has to made up somewhere else.

Investing is simular to gambling - except these companies don't invest - they use tax breaks as to not hinder their bottom line, thereby making more money in the end. And if they don't find anything, well, it didn't hurt that bad - we used tax breaks, not our own money. Not fair my friend, not at all!

Also, why would you need incentive to find your own bread and butter?

TonyT1961 wrote:

<quoted text>
If they are not paying their fair share of taxes by recieving tax breaks, make record profits, and then wish to keep (the shareholders) their money instead of re-investing in new sources of oil, then the taxpayers ultimately pick up the tab. When revenue decreases, as when large companies recieve these tax breaks, the lost revenue has to made up somewhere else.
Investing is simular to gambling - except these companies don't invest - they use tax breaks as to not hinder their bottom line, thereby making more money in the end. And if they don't find anything, well, it didn't hurt that bad - we used tax breaks, not our own money. Not fair my friend, not at all!
Also, why would you need incentive to find your own bread and butter?

Corporations don't pay taxes silly. You do. When you tax a corporation it is just one more cost passed on to whom ever buys the product. In this case a gallon of gas. If you increase taxes or take away a tax break they just add the tax to what ever you are buying and you pay more for it when you fill up your car.

cap and trade is a tax on us. high oil prices is also a tax on us and ben bernanke will be put on the cross, for the actions of those responsible for our losses. including congress!

John wrote:

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Corporations don't pay taxes silly. You do. When you tax a corporation it is just one more cost passed on to whom ever buys the product. In this case a gallon of gas. If you increase taxes or take away a tax break they just add the tax to what ever you are buying and you pay more for it when you fill up your car.

Liberals are basically brain dead children. This is what they were taught in grade school in government schools, and they never questioned it.

Richard S wrote:

<quoted text>
This issue ws raised by YOUR governor. It is an idea worth pursuing. Of course, that would mean the end of any $$ assistance from the Feds.,- you know, when you have tornado damage or flood damages - not more $$ from us.
FEMA alone has dumped more than $3.5 BILLION into that cesspool of a state since 2001.
Yes - Texas should secede. ASAP.

I agree, the US would be better without Texas....

Or Maybe Northern California should suceed. We could dominate the world economy with Tech, Wine, Ag and Pot exports

Glasnos wrote:

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Liberals are basically brain dead children. This is what they were taught in grade school in government schools, and they never questioned it.

Pretty funny from the Global Warming denying, Creationist set.

When faced with Scientific evidence CONS never question their beliefs.

jon wrote:

cap and trade is a tax on us. high oil prices is also a tax on us and ben bernanke will be put on the cross, for the actions of those responsible for our losses. including congress!

Wrong!

Polluting industries make profits by successfully passing on the true cost of their business to the public at large. the Public has to pay to fight acid rain and global warming not teh coal industry...

Taxpayers have to pay to clean up the poisons in our water not big-ag

the list goes on and on.

Cap and trade only forces poluters to clean up their own mess, not taxpayers at large.

If they chose to continue to pollute, they can buy credits from non-polluters. But the smart business cleans up their act, and stockpiles pollution credits. They can in turn sell these credits at a profit to the low end of the corporate ladder.

Capitalism at work.

How Many quarters in a row did Exxon have record profits in the Bush era.....I think it was at least 10-15 from '05-'08, but it may be more.

There is no competition in this oligopoly. Anyone who uses the oil industry as a pillar of capitalism is a brain dead fool.

We need energy companies not fossil fuel companies.

SC Guy wrote:

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Pretty funny from the Global Warming denying, Creationist set.
When faced with Scientific evidence CONS never question their beliefs.

Global warming is a socialist scam. You really have to be brain dead zombie to think man has a measureable impact on climate. You so called scietists were predicting huge hurricanes after Katrina ... and we have had nada... Instead, we hav record cold temperatures in various parts of the globe the last three years. Here in daytona, I have never seen such cool temperatures the last three years. Bring on the warming .... I'm ready...
How cold is it? Flint's 95-year-old record low falls as 19 below zero hits city
Wednesday January 14, 2009, 7:58 PM
Record cold shudders through Western Australia
Martin Palmer, Friday May 22, 2009 – 20:11 EST
Weatherzone
Saturday's high temp in Green Bay sets record for June 6 high temperature for the day, reached at 9:50 a.m., was 52. That set a record for the lowest high temperature for June 6, according to the National Weather Service office in Ashwaubenon.

Global warming? Only the liberal children could still hold on to that lie.