Try to enforce regulations on OIL.. they threaten to raise prices and lay people off.

[dahunan]

*start off with
http://www.bp.com/extendedgenericarticle.do?categoryId=2012968&contentId=7061409
ONLY 6 billion in profit for the first quarter of 2010

/cough ... I guess that is power.. bigger than Dem or Rep?

shoot the messenger.. I don't mind.. but this article reveals billions and billions and billions they steal from us
http://www.nytimes.com/2010/07/04/business/04bptax.html?ref=business&src=me&pagewanted=all

the oil and natural gas industry has spent $340 million on lobbyists since 2008, according to the nonpartisan Center for Responsive Politics, which monitors political spending.

When the Deepwater Horizon drilling platform set off the worst oil spill at sea in American history, it was flying the flag of the Marshall Islands. Registering there allowed the rig’s owner to significantly reduce its American taxes.


The owner, Transocean, moved its corporate headquarters from Houston to the Cayman Islands in 1999 and then to Switzerland in 2008, maneuvers that also helped it avoid taxes.



At the same time, BP was reaping sizable tax benefits from leasing the rig. According to a letter sent in June to the Senate Finance Committee, the company used a tax break for the oil industry to write off 70 percent of the rent for Deepwater Horizon — a deduction of more than $225,000 a day since the lease began.



With federal officials now considering a new tax on petroleum production to pay for the cleanup, the industry is fighting the measure, warning that it will lead to job losses and higher gasoline prices, as well as an increased dependence on foreign oil.

 

[Murloc]

just don't listen to their bullshit and enforce prices too if they retaliate.

 

[charrison]

Regulations do not come without cost.

 

[dmcowen674]

Regulations do not come without cost.

Not as much as having no Regulations as we have seen.

 

[dahunan]

Regulations do not come without cost.

I am sorry that 6 billion in profit is not enough.. IN just three months

 

[WHAMPOM]

Regulations do not come without cost.

And NO regulation may not cost more? Do ya think?

 

[cubby1223]

Well, if you want to stick it to the oil companies, stop using oil-based products. Go ahead. Try. Lead the way. Be a hero.

 

[cubby1223]

but this article reveals billions and billions and billions they steal from us

Grow a spine for crying out loud.

Geez this forum just gets dumber and dumber by the day...

Oil companies make money because ... *gasp* ... they provide a product that we want to buy and use.

 

[CalvinHobbes]

What do you expect from some of the most crooked businesses in the world. It's amazing that the first thing they threaten is always cutting jobs of the people who actually do the work in the company, not lowering the salaries of the most ridiculously paid top 5%.

 

[cubby1223]

I am sorry that 6 billion in profit is not enough.. IN just three months

Would you rather B.P. not have the funds to clean up the gulf? Can't have it both ways, genius.

 

[Rebel44]

just don't listen to their bullshit and enforce prices too if they retaliate.

And how do you enforce low price of IMPORTED oil. If you dont pay your supplier you wont get oil - its that simple.

Oh and current US oil production cover just under 40% of US oil consumption.

 

[cubby1223]

Seriously, dahunan, you complain when an oil company "threatens" to raise prices, but when Obama creates a plan where energy costs will necessarily skyrocket, you cheer and shout and cry "Yes we can! Yes we can! Yes we can!"

So what's the deal? Are you just repeating the general notion that corporations are evil while government is all warm loving caring touchy-feely hopey-changey great?

 

[dahunan]

Grow a spine for crying out loud.

Geez this forum just gets dumber and dumber by the day...

Oil companies make money because ... *gasp* ... they provide a product that we want to buy and use.

pull your head out of your ass and dont try and start shit

want??? HOW ABOUT NEED.. are you GOING TO DENY THAT.. are you really that lost??

The backbone of western civilization is dependent ON OIL.. smartass

 

[dahunan]

uote: Originally Posted by dahunan View Post I am sorry that 6 billion in profit is not enough.. IN just three months Would you rather B.P. not have the funds to clean up the gulf? Can't have it both ways, genius.

you might want to step away from the keyboard before you type anything more asinine... Genius??

THEY CAUSED it and the fact that we are afraid to regulate them CAUSED IT.... so whatever they have to pay has NO BEARING on how much they have scammed

 

[charrison]

And NO regulation may not cost more? Do ya think?

I did not say there should be no regulation or there should not be more regulation. Only that more regulations will add costs.

 

[charrison]

I am sorry that 6 billion in profit is not enough.. IN just three months

And that is probably less than 10% profit margins. It also means they have plenty of money to clean up the spill as well.

 

[dmcowen674]

Grow a spine for crying out loud.

Geez this forum just gets dumber and dumber by the day...

Oil companies make money because ... *gasp* ... they provide a product that we want to buy and use.

That's not true

Many products were made without oil before they switched to oil.

There is no reason that they cannot go back to non-oil other than greed.

You are the liar and spineless dumb one.

 

[Double Trouble]

Not as much as having no Regulations as we have seen.

Oh, so adding a tax on the price of oil would have prevented this? You seem to have hit a new level of retardation, better check your meds.

 

[Sclamoz]

Would you rather B.P. not have the funds to clean up the gulf? Can't have it both ways, genius.

I personally would prefer there be no oil spill for them to cleanup, which is the whole reason people want enforced safety regulations to begin with and this tax is going to pay for the money tax payers spent to cleanup the oil spill. Or do you feel that we should be bailing out BP because they've destroyed the gulf?

 

[Double Trouble]

pull your head out of your ass and dont try and start shit

want??? HOW ABOUT NEED.. are you GOING TO DENY THAT.. are you really that lost??

The backbone of western civilization is dependent ON OIL.. smartass

I'm not sure what you're getting at. So we need oil. That means we need to pay the price to get it. Do you think oil companies should be handing us free oil out of the goodness of their heart or something?

Also, you tout the 6 billion number like it's a lot. If you look at profit the way anyone who understands finances would: as a percentage return on equity or investment, the profits for the oil companies are much lower than most other industries. Apparently you can't grasp that.

If we add a big tax on top of the price of oil, what do you think the company is going to do? Eat the tax? Of course not, they'd be stupid. They just pass along the cost to the consumer, just like any other business.

 

[Double Trouble]

That's not true

Many products were made without oil before they switched to oil.

There is no reason that they cannot go back to non-oil other than greed.

Ok, and who's stopping them from doing so? You can start producing something without oil if you like, nobody is stopping you. In your world greed = wanting to make a profit. Well newsflash: every single person and company in the world are greedy by that definition, so it's pointless.

 

[Amused]

I am sorry that 6 billion in profit is not enough.. IN just three months

BP is a VERY LARGE company owned by MILLIONS of people.

they have a 7.6% profit margin.

http://finapps.forbes.com/finapps/jsp/finance/compinfo/CIAtAGlance.jsp?tkr=BP

That's a pretty LOW profit margin by any scale.

By comparison, brewers (beer makers) have an average of 14.2% profit margin and restaurants have an average of about 9%.

http://biz.yahoo.com/p/sum_conamed.html

In other words, your outrage is just plain stupid knee-jerk ignorance.

It is a fact that over regulation costs money and will drive up prices. You do not make a company spend more in overhead without having to pay more as a consumer. Period. It is the same with business taxes. They are passed directly onto the consumer.

 

[boomerang]

I blame our education system for posts like these.

 

[William Gaatjes]

I once read an article about that many large American companies have special tax reduction agreements in the USA. These companies enforced this because other wise these companies would go to other countries that would favour them more with tax reductions.

I know Microsoft was mentioned in that article but i am sure there are a lot of companies that have similar agreements. What is the current situation in general in the USA ? Is this still the same ?

According to the article nothing has changed much... ^_^

 

[Amused]

I once read an article about that many large American companies have special tax reduction agreements in the USA. These companies enforced this because other wise these companies would go to other countries that would favour them more with tax reductions.

I know Microsoft was mentioned in that article but i am sure there are a lot of companies that have similar agreements. What is the current situation in general in the USA ? Is this still the same ?

High business taxes do nothing but hurt the consumer AND the workers.

Why? Because busniesses merely pass these taxes on to the consumer with higher prices. AND, higher prices makes companies less profitable on the world market, which then makes countries with lower taxes have an edge.

Busniess taxes do NOTHING but hurt consumers and the ability of companies to compete, thus putting people out of work.