[jazusamo]

Dems keep demonizing oil companies while still not letting them drill.

[kingu]

Oil companies generally make a dime a gallon. Gasoline is taxed about a buck a gallon by the various levels of government. Which has the mismanagement and greed?

[olezip]

“We have to do something about the exorbitant gas prices, and the best way to start with that is to do something about the five big oil companies getting subsidies they don't need,” Senate Majority Leader Harry Reid (R-Nev.) said on the Senate floor on Tuesday.

Senate Majority Leader Harry Reid (D-Nev.)is wrong because companies ALWAYS pass increased taxes onto the consumers. What would you expect? The ten cents per gallon that they earn will remain at ten cents per gallon. You and I will pay more at the pump for any increase in costs of production. Harry Reid, an allegedly corrupt politician, does not want to understand basic economics 101, and general knowledge and experience for the past 100 years.

[Argus]

So, massive government subsidies to ethanol, windmills, etc. are necessary to keep those prices down, but subsidies to gas and oil companies cause those prices to go up.

Harry Reid’s logic is a marvel to behold.

[musicman]

[LuvFreeRepublic]

“You’re either going to have that investment here or you’re going to penalize that investment, in which case it will go somewhere else. It means fewer jobs and more un-American energy.”

Or they pass the tax onto the consumer so we end up paying more at the pump than we are now....DUH

[Daisyjane69]

I’m going to keep posting this until every FReeper is an expert and can correct people on this subject.

Big Oil has been prevented from getting these subsidies since 1975. In the video below, please note that the Democrat speaking worries about how it’s going to look for Obama once people realize he is LYING about this issue:

http://conservatives4palin.com/2011/04/democrat-martin-frost-effectively-concedes-palins-analysis-of-the-oil-industry-is-accurate.html

Money phrase:

“But if the press ever picks up that the President is not telling the truth about the depletion allowance, that it doesn’t go the major oil companies, he’s going to have additional problems, I believe, in the polls.”

[Daisyjane69]

I’m going to keep posting this until every FReeper is an expert and can correct people on this subject.

Big Oil has been prevented from getting these subsidies since 1975. In the video below, please note that the Democrat speaking worries about how it’s going to look for Obama once people realize he is LYING about this issue:

http://conservatives4palin.com/2011/04/democrat-martin-frost-effectively-concedes-palins-analysis-of-the-oil-industry-is-accurate.html

Money phrase:

“But if the press ever picks up that the President is not telling the truth about the depletion allowance, that it doesn’t go the major oil companies, he’s going to have additional problems, I believe, in the polls.”

[Chode]

do I really have to say it???

[BJClinton]

Senate Majority Leader Harry Reid (R-Nev.)

I realize it's difficult to tell them apart anymore but really...

[justiceseeker93]

Can someone please explain why the ‘Rats are out to boost taxes on oil companies just now when they had two years to do it when they controlled both houses and the White House? If it’s such a great idea now, why wasn’t it implemented previously?

[Brad from Tennessee]

And we can revive the real estate market by eliminating the Home Mortgage Interest Deduction.

[blueyon]

At yesterdays (5/17/11) Oil & Gas Industry Tax Breaks Hearings, Tom Coburn gave one of the best speeches there. If anyone can find a video, please post.
I watched it on CSPAN.
Basically he said he is amazed at the lack of accounting knowledge the Senate has, that the reason why oil is so high is because the dollar is weak due to our high debt and since oil is “traded” world wide any regulations placed will have little effect on the price...it truly is worth listening to if anyone can find it!