Kanjorski bill seeks to rein in big oil

Times Leader (Wilkes-Barre PA) ^ | 4/29/08 | BILL O ’ BOYLE

[Born Conservative]

Another Congressman who would benefit from taking an economics course. Kanjorski is up for re-election, in a potentially tough race (against "Mayor Lou" Barletta).

[bmwcyle]

Microsoft and Oprah are making too much money also. /sarcasm

[ArrogantBustard]

I'll be impressed when Congressman Smith or Senator Jones "seek to rein in big government".

Until then, it's all blather and drivel.

[raygunfan]

how come this doofus doesnt rail against the huge profit the government makes on the outrageous taxes per gallon????

how come he doesnt lash out at the anti american greenie weenies who have regulated our energy companies and stopped up from using our own abundant oil supplies that would help bring down the cost????

damn leftists...

[Mikey_1962]

How is increasing the tax, lowering the return on investment on my 401K, and giving the money to the government a solution to anything?

[Attention Surplus Disorder]

“The 12-term incumbent acknowledged his proposal and four similar ones in the House of Representatives don’t have a chance of becoming law.”

But it’s OK for him to posture and prate and act like he gives a crap or even knows anything about the subject matter. It’s time to invoke a “loser pays” system for specious bills in Congress, where a representative is charged back for administrative time. Where was this guy with the oil company sob story when oil was $10 a barrel back in ‘00?

[Eurale]

Who’s next - Big Pharma, Microsoft, Soros, trial lawyers, unions? Oh.

[Eurale]

Who’s next - Big Pharma, Microsoft, Soros, trial lawyers, unions? Oh.

[KC_Conspirator]

What an idiot!

[thulldud]

How is increasing the tax, lowering the return on investment on my 401K, and giving the money to the government a solution to anything?

Your question contains its own answer.

[Cincinatus]

Kanjorski said he can’t understand why the oil companies can’t take a lesser profit.

Probably the only true statement in this entire article.

[NRA1995]

Actually it’s time for America to stand up to the environmentalist pigs and start drilling at home.

[Eric in the Ozarks]

Coca Cola is completely out of control.

[Between the Lines]

The last thing the oil industry needs now is uncertainty on how much taxes they will pay.

[RightWhale]

Say, Paul, find some more railroads to pave over so we can drive our gasoline buggies even more instead.

[thackney]

A windfall tax would help discourage these industries from consistently increasing their prices, the congressman said.
- - - - - -

How about the taxes they already pay? When is government going to quite putting it to us at the gas pump and also open up some resources?

ExxonMobil 2007
Revenue $404.6 Billion
Profit $40.6 Billion (10.0%)
Taxes $102.5 Billion (25.3%)

Sales-Based taxes $31.728B
Other taxes and duties $40.953B
Income taxes $29.864B

2007 Financial & Operating Review
http://www.exxonmobil.com/corporate/files/news_pub_fo_2007.pdf
Page 16

- - - - - - - - -

ConocoPhillips 2007
Revenue $194.5 Billion
Profit $11.9 Billion (6.1%)
Taxes $30.4 Billion (15.6%)

Taxes other than income taxes $18.990B
Income taxes $11.891B

2007 Annual Report
http://www.conocophillips.com/NR/rdonlyres/3838234F-F20C-4BCE-AE8D-78DE29D67455/0/07RevisedARfinal.pdf
Page 60

- - - - - - - - -

Chevron 2007
Revenue $220.9 Billion
Profit $18.7 Billion (8.5%)
Taxes $35.7 Billion (16.2%)

Taxes other than income taxes $22.266B
Income taxes $13.479B

2007 Annual Report Supplement
http://media.corporate-ir.net/media_files/irol/13/130102/reports/CVX_ARsupp07.pdf
Page 3

- - - - - - - - -

Marathon 2007

Revenue $62.8 Billion
Profit $4.0 Billion (6.3%)
Taxes $8.5 Billion (13.5%)

Consumer excise taxes $5.163B
Other taxes $0.394B
Income taxes $2.901B

2007 Annual Report
http://www.marathon.com/content/documents/investor_center/annual_reports/annual_report_2007_book.pdf
Page F-4

[contemplator]

Exactly. How does this benefit the average American? This is a tax hike specifically targetting and discriminating against a single industry. Doesn’t this idiot realize that all taxes are ultimately paid by the comsumer and not the corporations? That was a rhetorical question; of course he does. He’s just another Democrat trying to reach into our pockets while telling us it’s for our own good. Why don’t these knuckleheads simply cut out the pork? The government has plenty of money already.

[poobear]

“They’re still buying it,” Pisano said. “But they are always complaining about the high prices. They understand it’s not my fault.”

They won't be buying it when your tanks are empty moron!

[headstamp 2]

“Consumer Reasonable Energy Price Protection Act of 2008. The bill, introduced on the House floor April 15, would allow the federal government to tax windfall oil and gas profits resulting from historically high oil and gas prices that average Americans struggle to afford, he said.”

Yes, lets revisit 1970’s gas rationing. 12 year Congressman and this jackass still doesn't know jack sh** about economics. I can picture people today going through gas lines like we did in the 70’s. The carnage would be spectacular.

[dfwgator]

Guys like Kanjorski are why we have to put up with Polish jokes.