House Budget Chair Ryan Backs Cutting Oil Subsidies

  • Posted by a hidden member.
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    May 04, 2011 10:50 PM GMT
    http://www.reuters.com/article/2011/04/29/us-usa-oil-ryan-idUSTRE73S0NE20110429

    Of course it was Boehner and the right who refused to cut these giveaways before they found out it was impossible to ignore. The hypocrisy is astounding.
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    May 09, 2011 9:11 AM GMT
    catfish5 saidhttp://www.reuters.com/article/2011/04/29/us-usa-oil-ryan-idUSTRE73S0NE20110429

    Of course it was Boehner and the right who refused to cut these giveaways before they found out it was impossible to ignore. The hypocrisy is astounding.


    I notice you've been creating quite a few threads lately.

    My question is, is this like most of your other threads, made with no substance or knowledge of what you are trying to discuss behind it?

    OR

    Do you understand or know anything about the Natural Gas and Oil industries?

    "Oil subsidies"?

    Can you name the "oil subsidies" and explain them or are you like most Liberals on here and in real time, unaware of what you are talking about and just repeating what the President, Nancy Pelosi or the DNC talking points are? I'll make it easy just explain the subsidies to the oil companies that add up to the $4B in the link you attached.

    Can you explain why "oil Subsidies" are bad and why anyone should be against them?

    Can you explain how "oil subsidies" differ from subsidies for any other industry?

    Can you explain who benefits from "oil subsidies"?

    Can you explain why anyone should be for taking subsidies away from oil companies and plowing them into, say "green energy" ? Can you explain why after more than 100 years of subsidies wind and solar energy have produced no return on government "investment"?

    Can you explain why "oil companies" should loose $4B/year in subsidies while wind facilities will get $8B/year under this administrations direction? Do you really want to see subsidies paid to wind facilities not to produce as the Europeans are now doing ? Or, haven't you heard that Europe has decided that the inefficient energy produced by wind technology is to disruptive to the energy grid?

    Can you explain why Democrats have no problems taking $4b/year in "oil subsidies" from oil companies who pay billions each year in U.S. Income taxes , yet have no problem with giving $8B/year to companies like GE who paid no income taxes last year?

    Can you explain why Democrats are so interested in $4B in "oil subsidies" when the taxes from just one Oil company like Exxon-Mobile (Exxon paid $10B in taxes last year and from 2006-2010 earned $40.5B in the U.S. but paid $59B in U.S. taxes over the same period) is more than double the $4B in subsidies?

    Until you can answer those questions truthfully and factually, you just sound like the whiner you claim the Republicans are in another of the fact less and baseless threads you created. I realize that those like you, who aren't aware of the facts and don't want to face facts, may think you are clever, but anyone with brain cells can see this and your other threads for what they are, the mindless garble of someone who understands nothing trying to be relevant.

    Yes, the Democrats "hypocrisy is astounding" ! So is yours! But, then your lack of knowledge on subjects you are trying to discuss is equally astounding.


  • GQjock

    Posts: 11649

    May 09, 2011 10:33 AM GMT
    544px-Renewables-elec-consump-2006.gif

    No .... It's YOU who has some 'splainin to do
    Ya wanna know WHY we have oil subsidies in this country?
    - to corporations that have had consistently the highest profit margins in the history of the world?

    Just check out how much these corporations "fuel" campaigns and party coffers every year ..... That's Why
  • Posted by a hidden member.
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    May 09, 2011 12:36 PM GMT
    GQjock saidNo .... It's YOU who has some 'splainin to do
    Ya wanna know WHY we have oil subsidies in this country?
    - to corporations that have had consistently the highest profit margins in the history of the world?

    Just check out how much these corporations "fuel" campaigns and party coffers every year ..... That's Why

    Are you absolutely nuts? You throw up some chart, measuring something, not clear what, and it is only European countries. US is not even on the chart. Your discussion is about corporations and the chart is about countries. That is supposed to make you look intelligent or look like you know what you're talking about. Guess what, it doesn't.
  • rnch

    Posts: 11524

    May 09, 2011 1:04 PM GMT
    catfish5 saidhttp://www.reuters.com/article/2011/04/29/us-usa-oil-ryan-idUSTRE73S0NE20110429

    Of course it was Boehner and the right who refused to cut these giveaways before they found out it was impossible to ignore. The hypocrisy is astounding.




    WHAT has the GOP done for any Americans who are not considered "wealthy" icon_question.gif
  • musclmed

    Posts: 3284

    May 09, 2011 2:27 PM GMT
    rnch said
    catfish5 saidhttp://www.reuters.com/article/2011/04/29/us-usa-oil-ryan-idUSTRE73S0NE20110429

    Of course it was Boehner and the right who refused to cut these giveaways before they found out it was impossible to ignore. The hypocrisy is astounding.




    WHAT has the GOP done for any Americans who are not considered "wealthy" icon_question.gif


    If you look for a "what have you done for me lately" from government you will be disappointed.


    Life is a struggle...All our founding fathers asked for was a equal playing field and to be left alone.
  • rnch

    Posts: 11524

    May 09, 2011 2:35 PM GMT
    [quote][cite]musclmed said...
    If you look for a "what have you done for me lately" from government you will be disappointed.


    Life is a struggle...All our founding fathers asked for was a equal playing field and to be left alone.[/quote]


    "Real World" translation: the GOP ain't done shoit for most tax paying Americans and they ain't gonna do nuttin' in the future.



    icon_mad.gif
  • Posted by a hidden member.
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    May 09, 2011 3:26 PM GMT
    musclmed said
    rnch said
    catfish5 saidhttp://www.reuters.com/article/2011/04/29/us-usa-oil-ryan-idUSTRE73S0NE20110429

    Of course it was Boehner and the right who refused to cut these giveaways before they found out it was impossible to ignore. The hypocrisy is astounding.




    WHAT has the GOP done for any Americans who are not considered "wealthy" icon_question.gif


    If you look for a "what have you done for me lately" from government you will be disappointed.


    I'm not! Keep working.. I love my military retirement check! icon_wink.gif
  • Posted by a hidden member.
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    May 09, 2011 10:17 PM GMT
    GQjock said

    No .... It's YOU who has some 'splainin to do
    Ya wanna know WHY we have oil subsidies in this country?
    - to corporations that have had consistently the highest profit margins in the history of the world?

    Just check out how much these corporations "fuel" campaigns and party coffers every year ..... That's Why


    We.re talking about oil so why don't we see just where oil fits in as far as profit margins.

    The profit margin for the oil and Natural Gas industry in 2010 was less than 8% worldwide and in the U.S. it was 5.7%

    So, lets see how it stacks up to other U.S. industries:

    Beverages and Tobacco 21.7%
    Pharmaceuticals and medicine 19.4%
    Computer and peripheral equipment 17.3%
    Chemicals 14.7%
    Electrical equipment, Appliances and components 10.6%
    All manufacturing 8.5%
    Apparel and leather products 7.7%
    Machinery 7.3%
    Aerospace products and parts 6.7%
    Oil and Natural Gas 5.7%
    Paper 5.7%
    Food 5.6%
    Motor Vehicles and parts 5.2%
    Plastics and Rubber products 4.0%
    Textile mills and textile products 3.9%
    Furniture and related products 0.6%
    Iron, Steel and Ferro Alloys -2.2%
    ( Information based on government fillings as reported by the Census Bureau)

    My guess is that you have no clue about what you are talking about or about what a Profit Margin is.

    As far as how much the Oil Industry gives to political parties , it's much less than you and your clueless friends like to think.
    The Oil and Gas industry ranked 19 in the amount of money contributed to politicians in the 2008 election cycle: $17.7 million.
    The number one industry in politics contributions was Lawyers who contributed $126.9 million, or more than seven times the amount the Oil and Gas industry contributed. The Education lobby gave $37.4 million, over twice the contributions of the Oil and Gas industry and we know that both of those supported Democrats.

    http://www.opensecrets.org/industries/mems.php?party=A&cycle=2008

    You still haven't answered any of the questions I posed in my original post. Like I said, if you don't have a clue about what you are trying to talk about, sit down be quiet and let the adults talk.

    So, tell me again, who has "some splainin to do" ?







  • GQjock

    Posts: 11649

    May 10, 2011 2:14 AM GMT
    Really .....
    So what you're saying then is that the oil companies then need to rack in - on average more than any company has made in the history of making money every year in order to keep their heads above water?
    Is That what you're saying?

    icon_biggrin.gif

    You're hilarious - Great business model that, huh?

    Oh sweetheart here's another CHART for ya icon_wink.gif
    http://ycharts.com/companies/MRO/gross_profit_margin#compInd=
    Seems like this company is an outlier in your neck of the woods
    MRO as of Dec 2010 Gross Profit Margin 25.98
    and when you plug in others?
    XOM 22.92
    CVX 35.71

    That's Marathon Exxon Mobil and Chevron respectively

    Yeah THEY need subsidies alright
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    May 10, 2011 2:56 AM GMT
    Seems to me if Republicans want so desperately for Government to "stay out of my business" that they'd not be so hypocritical about Government handouts to such a profitable business as big OIL CO.s, LOL !! Of course this brings up the Repub problem with partiality toward their biggest donor.

    Our Country has no logical reason for giving millions of dollars worth of subsidies for exploration and multiple tax deductions also for exploration, neither should we be giving subsidies or tax breaks to Companies moving their business overseas, we should be doing the opposite.

  • Posted by a hidden member.
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    May 10, 2011 3:05 AM GMT
    Ryan & Boehner will never eliminate oil company subsidies. It's just PR, so people will think they did it. Post back here when it actually happens, which it never will.
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    May 10, 2011 7:05 PM GMT
    GQjock saidReally .....
    So what you're saying then is that the oil companies then need to rack in - on average more than any company has made in the history of making money every year in order to keep their heads above water?
    Is That what you're saying?

    icon_biggrin.gif

    You're hilarious - Great business model that, huh?

    Oh sweetheart here's another CHART for ya icon_wink.gif
    http://ycharts.com/companies/MRO/gross_profit_margin#compInd=
    Seems like this company is an outlier in your neck of the woods
    MRO as of Dec 2010 Gross Profit Margin 25.98
    and when you plug in others?
    XOM 22.92
    CVX 35.71

    That's Marathon Exxon Mobil and Chevron respectively

    Yeah THEY need subsidies alright


    I'm hilarious? You still haven't answered any of my questions. Why not? Don't know what you are talking about?Taxes amount to a bigger share of the price sat the gas pump than both profits an cost of refining combined.

    Apple's profit margin is 40%.

    Independent Oil and gas at #112 among all industry as far as profit margin.

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

    Exxon-Mobil paid $8B in income taxes in the first quarter 0n income of $!8.9B. That translates to a 42.3% effective income tax rate.

    Exxon's first quarter profits are dwarfed paid around the world from January to March of 2011, which totaled $26.2B. $8B in income taxes, $10.3B in sales based taxes and 210/3B for all other taxes including property taxes( and yes they have to pay property taxes on all of those leases).

    Exxon increased it's output of Natural Gas by 10% over last year. A large part of that increased output comes from a 192% increase in Natural Gas production in the United States, due to new advanced drilling technologies. The role of increased output in profits can't be ignored. Also, lets not forget that because of increased production Natural Gas prices, adjusted for inflation, are the lowest since December of 2002.

    Exxon -Mobil spent $7.8B in the first quarter on capital equipment and exploration, which amounts to 73% of it's after tax earnings, more than 21 million/day.


    Exxon-Mobil paid $8B in income taxes to various governments in the first quarter of 2011, or about $22 million in income taxes a day, or nearly $1 million an hour.

    If you want more money from oil companies, here's a novel idea, let them drill more domestically! Oil companies pay the United States government $17/barrel for each barrel of oil extracted domestically.











  • Posted by a hidden member.
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    May 10, 2011 7:08 PM GMT
    realifedad said Seems to me if Republicans want so desperately for Government to "stay out of my business" that they'd not be so hypocritical about Government handouts to such a profitable business as big OIL CO.s, LOL !! Of course this brings up the Repub problem with partiality toward their biggest donor.

    Our Country has no logical reason for giving millions of dollars worth of subsidies for exploration and multiple tax deductions also for exploration, neither should we be giving subsidies or tax breaks to Companies moving their business overseas, we should be doing the opposite.



    Again, you as usual have no clue as to what you are talking about. Maybe you should check into an economics class.