High Gas Prices and the Windfall Profits Tax

[Downfurlife]

Dutch gas is expensive because they have the highest god damn tax in the world.Sure inflation is a big part. But, you intentionally left out an equally important factor to sell your story..The rest of your talk is equally full of spin, deceptive. Inflation/The fed ..You use big word and most idiots get excited. Less for me to talk to.Oil choose to make profit from volume not margin-who gives a shit.LOL you are quoting Cato.Let me quote Obama for you lol

[AntonBatey]

@Downfurlife

I mentioned taxes. And I'm not using big words here.

[FireGuyX]

Anton what is your take on environmentalism? Do you think it's a bunch of nonsense, and how you would preserve endangered animals and the forest?

[Budguy68]

People ought to start voting from roof tops with a sniper rifle.

[andrewsheldonreeves]

all taxes are a bad idea man! Don't steal the gov hates competition!

[curiositygun93]

whose the guy talking in this video?

[AntonBatey]

@curiositygun93

Me. 

[curiositygun93]

@AntonBatey then whose the guy talking in currency, education, defense, etc in a stateless society?

[AntonBatey]

@curiositygun93

ConfederalSocialist, who had an eariler account deleted, which is why I posted his (deleted) videos.

[neozzyinu]

an oil executive who decided to retire was paid a severance package of $400 million dollars. what gives these people the right to decide to make themselves instant million airs? while the rest of us have to work our ass of everyday to make a living. no wonder these ppl are regarded as parasites.

[neozzyinu]

ill give you $123 billion reason why gas prices are so high

RECORD PROFITS

123 billion dollars in 1 year this is what the oil companies made combined last year.

oil companies delibritly manipulate the market to raise prices and profits, its as simple as that.

[herbs814]

The oil companies earn 9 cents per gallon after all their exploration, geological surveys, production, transportation, refining, distribution, and marketing of their product. Government takes 50 cents per gallon after doing NOTHING to contribute to energy production. So the government is the greedy party. ABOLISH ALL GAS TAXES before I will have one ounce of sympathy for your anti-corporate rant.

[shakaama]

actually i think obama seriously wants to tax refined oil out of the u.s.

i agree with that policy personally. we need to make refined oil so unattractive that we finally stop being stupid and invent something better than the combustion engine. come on the combustion engine was invented ... 300 years ago? [ though of 600 years ago]

we should be flying around like the jetsons by now.

why is everyone defending big oil?

[oilhammer04]

Fossil fuels are still fairly abundant, and the earth already converted solar energy into coal and crude for us, so why not use it?

[shakaama]

do you know people actually used to have pocket watches?

There were whole blocks and blocks of every major city dedicated to making lady hats.

People used to murder each other, whole countries, nations over pepper.

People used to slaughter animals, pull out their intestines and throw the rest of the entire animal away, no fur, no skin, no meat, just intestines.

Doctors used to put leeches on each folks.

Doctors used to saudomise and stick dildos in women as a legitimate medical practice.

[shakaama]

do you get my point?

[oilhammer04]

Sure, but we don't have a a current better source of energy for transportation than diesel and gasoline. Fine, if someone can come up with better fuel, but they haven't. We don't have the affordable battery technology to use electric cars. They are only good for the milder climates now. I drive a Prius, but I doubt if it will be cheaper to own than a standard efficient gas car.

[shakaama]

have you even heard of tesla motors?

[oilhammer04]

Oh, yes! I would like to have one as a novelty, but they are way out of the price range of the average guy. Also, Electric cars are great for mild climates like Southern California, but I don't think they would be too practical in other areas that require a fair amount of air conditioning and heating.

[shakaama]

actually they are coming out with a $30k 4 door sedan this year.

[oilhammer04]

Interesting . . . . I hadn't heard that. Surely this car won't have lithium Ion batteries at that price?

[shakaama]

yes it will. if not li-po

[oilhammer04]

That's good to know.

[AntonBatey]

Sarah Palin, McCain's new VP pick, not only raised the taxes of oil companies, she imposed a *graduated* tax on them, which means the more profits they make, the more they're taxed.

[iceistheman]

I think he is just saying that econ profits shouldn't be made because they lead to lower efficiency in the market... Based on Mccains quote it doesnt sound like he would implement a windfall profits tax but maybe focus elsewhere to fight away the econ profits... Not sure how he would do that, but something of that nature.

[FrankCastlez]

excellent video! thank you for making it!

[3swelldogs3]

people need to stop just this crazy focus on oil companies make too much money. there are plenty of other companies that make as much or more money that the oil business's. health for example...pharmaceuticals.

[WaffleBakingStar]

Coca-Cola

[3swelldogs3]

and disney : )

[SeekerNLife]

Good analysis & explanation. Exceptional! And why is the demand for Oil so high? Because 3rd World countries, where people were riding around on donkeys 15 years ago, are now driving cars. These people work in factories now and can afford cars. They have manufacturing jobs due to US Companies fleeing from: - High Employer Taxes - Union Demands - Increased Minimum Wage - Govt. Regs. And the Dollar goes down in part because of the decrease in US Manufacturing. It's a vicious circle.

[EasyEs]

THANK YOU. I am a Geologist and someone had to say this. Also a second point are regulations against refining heavy oil that there is a glut of right now. That change alone could strongly effect prices.

[EvanChaim]

Excellent video... This is one of the most comprehensive video on the subject I have seen. Good job!

[jemini123]

Good points in the video. But what's up with the gas tax holiday that Mccain was suggesting we impliment? I never understood what that meant. Also other countries are paying a lot more (as you mentioned) at the pump than we are. The reason people (myself included) are feeling the pain is inflation vs lack of credible annual pay increases from employers. With rising gas (and food) prices, a $.25 annual raise ain't gonna cut it!

[AntonBatey]

Regarding the gas tax holiday, I think every little bit helps, but it's mainly just a feel-good program. I think it's possible that if gas is reduced 18.4 cents/gallon, demand would increase and we may be back at square one with regard to price, but that extra 18.4 cents/gallon would go to oil companies (instead of government), and it would be better for them to have it to facilitate exploration and drilling.

[shanklinmike]

Please check out my page! May I repost your video? It is awesome! Thanks!

[AntonBatey]

Sure.

[nzalud2]

McCain is for a the windfall profit tax as well.

[tedfreeway]

Where is your source? I'm pretty sure that is false.

[nzalud2]

His own mouth is the source. He said it numerous times.

[nzalud2]

On May 5, campaigning in North Carolina, McCain said he was definitely willing to consider the windfall tax on oil companies.

"I don't like obscene profits being made anywhere. I'd be glad to look not just at the windfall profits tax, that's not what bothers me, but we should look at any incentives that we are giving to people — or industries or corporations — that are distorting the markets," he said.

[tedfreeway]

Ok show me one more quote not on that day where he said that. You said he has said it many times right?

[sm0ky40]

Well done.

[MinniePearlJam]

I will vote for Obama when he can accomplish one task. Name ONE (not 20, 50, 100), but ONE company who's taxes were not paid by it's customers. Good grief, people. This is 8th grade economics. Remember Adam Smith? Wealth of Nations? No business EVER pays business taxes. Either Obama either doesn't understand basic economics or he knows that his supporters don't.

[Jimraynor45]

Based on Obama's support of the windfall profits tax, that alone is enough to convince me not to vote for him. Since McCain as also said he would consider a Windfall Profits tax, I think we shouldnt vote for either candidate, but vote for a third party instead

[AntonBatey]

If I was forced to pick the better between the two in the classic "lesser of two evils" framework, I would have to pick Obama. We all know Obama is going to increase the welfare state -- that goes without saying. But McCain's domestic policies are equally as socialistic since he is opposed to drilling in ANWAR, voted against Bush's tax cuts in 01 and 03, he wants to implement an unemployment insurance provision (which would cost billions)...

[AntonBatey]

...he (McCain) also proposes a $3.6 TRILLION tax increase to pay for government provided health care, and most important, he has no plan in stopping the $2 billion/week + spending in Iraq, and wants to expand it into Iran possibly (which would also "expand" spending to $3-4 billion/week), not to mention the causalities, US and foreign.

So we have Obama - who wants to increase the welfare state, and McCain - who wants to increase the welfare AND warfare state.

[RadiantMirage]

Also, I find it really funny that the government makes more on every gallon of gas than an oil company does.

But wait, it is the greedy evil oil companies that are the root of all the problems...LET'S TAX THEM SOME MORE! That'll teach them! Then their profit margins will sink even deeper and exacerbate the situation! Meanwhile, the public will complain even harder about "big oil"!

Bring on the Windfall Profits Tax!

After all, it worked so well when Carter did it, right??

[RadiantMirage]

Neocon? The way you throw that word around as an insult proves you don't have any understanding of what it means. It seems to you that "neocon" is anyone that doesn't harbor a ridiculous hatred for big corporations. Instead of attacking my argument that Baracks and Jimmy Carters are exploiting the public's economic ignorance, you just call me a "neocon". A classic logical fallacy.

Actually, I would consider myself a Libertarian, and I would be willing to bet that Anton is also one.

[AntonBatey]

You don't even understand what you're saying, lol.

You're saying that the prices of other products should be rising as much as oil since they exist in the "same market" - which is just totally stupid since it assumes that everything in the "same market" has the same demand. That's where prices come from, dumb fuck - demand and how much supply there is to meet the needs of those willing to buy.

You're one stupid mothersucker who just needs to sit down and shut up.

[askquestionslater]

"You're saying that the prices of other products should be rising as much as oil.."

No retard, I am saying no other market bases their DEMAND off CONVENIENT SPECULATION. Hence this sudden rise in demand that nobody (at least who can fucking COUNT) can seem to locate to make up the difference.

Thats why your fat-fuck, cigar smoking heroes are scraping up every excuse (just as you are) to try and explain where these demand speculations come from.

And like you, they can't :)

[AntonBatey]

I already did. You just don't understand because you don't understand basic economic policies. Idiot. As I said, you dismiss supply and demand, OPEC, taxes, drilling in ANWAR, tariffs on finished gasoline and other protectionist measures, profit margin of oil companies vs. other industries, etc.

The ONLY explination you'll accept is "gas prices are high because oil companies are greedy". Because you're stupid.

[askquestionslater]

"As I said, you dismiss supply and demand"

What did I just fucking SAY? Read it again!

Oil demand is based off of what????

"OPEC" << Who do you think is setting the price per barrel based on Saudi supply speculation when the Saudis are the ones giving the supply figures???? LOL

Even the OIL SOURCE says the rate of price increases unjustified!

Taxes? What, need ANOTHER tax break under Bush? aww

How the fuck can ANWAR affect prices of import oil only in the past 2 years? LOL

[AntonBatey]

"Oil demand" is no different from a "demand" derived from any other product, dumb shit. If more people want it, the price will go up. And guess what? It's being bought in record numbers.

OPEC is a government cartel. The nations set how much oil companies can produce. That curtails supply, thus raises prices. Idiot.

20% of what you pay at the pump is in taxes. And yes, more tax breaks.

There is oil in ANWAR, and if they drill there, supply will increase and drop down prices.

[AntonBatey]

You're obviously for big government.You want government to put a cap on the price of gas, which will lead to shortages.You're apparantly a socialist since you're against tax cuts and is for government regulation and control of the market. Look what happens in every socialist country-there are always shortages since they place caps on prices.

But you, not caring about "economics", wouldn't know this of course. It's not as simple as saying, "those evil greedy CEOs".

Your mind is simplistic.

[askquestionslater]

Ahh.. I knew it would only take a little time before ya crack and go off on a "socialist" tangent.

You hate government intervention so much you would go to this length to justify the hardships American families are dealing with every day. And you don't give one shit do ya?

You would give your left testicle to be sitting right there with those CEOs. My guess, when your rich kissing buddies in Saudi headdresses step up to your false claim on lack of resources, you wont want to be.

[AntonBatey]

Yeah, well it's true. You're got big government interference in the oil market. Therefore, you're a socialist. If you don't like it, change positions. Taxation is theft, and is therefore immoral. It's obvious that you're not intelligent enough to debate the issues since you don't even under the rudimentary laws of supply and demand, and you claim I don't care about American families.

[askquestionslater]

"Taxation is theft, and is therefore immoral."

Spoken like a purebred neocon.

"you don't even under the rudimentary laws of supply and demand"

This needs to be stomped into your ugly fucking skull neocon.. you seem to have trouble remembering...

THE "DEMAND" IS A FALSE, OVERBLOWN SPECULATION AND EVEN THE "SUPPLY" SOURCES YOU BUY FROM NOW ADMIT IT IS MISLEADING AND UNJUSTIFIED!

[AntonBatey]

Actually neo-cons are for taxation. President Bush increased Federal spending by 45% from 2001-2006 (Clinton only increased it by 32%). Watch my video "Republicans and Big Government Spending". The neo-cons want to increase the military budget, expand American imperialism, kill more innocent people, impose tariffs on goods into this country, increase the size of the Department of Education, and impose other welfare programs.

[AntonBatey]

The "demand" is true.

-Are you denying that China and India are developing countries with billions of people that need oil to pull themselves into the First World?

-Are you denying that the more cars there are, the more oil will be needed?

-Are you denying that OPEC cuts back on supply?

-Are you denying that the US doesn't have its own reserves of oil it doesn't drill?

-Are you denying that an oil refinery hasn't been built since 1976?

Didn't think so.

[AntonBatey]

Let's talk about the hardships American families face. Gas prices? Oh, I already kicked your ass on that subject. How about the price of food? Price of food is high because of farm subsidies and inflation as well.

But hey....isn't blaming "those greedy capitalists" easier to do?

Moron.

[RadiantMirage]

Haha, "screw economics"? And you still can't understand why gas prices are high? That is a surprise. This is why the Jimmy Carters and Barack Obamas of the world can get away with the lies that they are actually helping you when they enact "windfall profits taxes". In reality, they are just screwing you harder than any oil company could.

Oil is a hot commodity, it drives modern economies; it is surprising when you throw all these factors in the mix, you get these high prices?

[askquestionslater]

""This is why the Jimmy Carters and Barack Obamas of the world can get away with the lies""

Your "neocon" is showing. Much like this video. All too selective on the political side. Strange. All those charts almost make you feel sorry for those poor bastards with their tiny oil profit percentages compared to other companies (who for some reason aren't affected by this falling dollar).

*sad violins play*

BULLSHIT!

[AntonBatey]

They *are* affected by it - everyone is. The money stock has almost doubled, which means that the purchasing power of the dollar has fallen, so profits arn't as important as profit *margin* if you're talking how how much money an industry is making relative to inflation. In the Weimar Republic, certain companies made billions in profit, but because their marks weren't worth shit, it didn't matter.

Get it?...oh, probably not - since "economics" is involved.

[defzepled]

When "windfall profit taxes" on oil were enacted in 1980.

According to a study published by the Congressional Research Service, the tax discouraged investment in the domestic oil industry to such a degree that domestic oil production was 3 percent to 6 percent less as a result of that tax, and foreign oil imports grew accordingly by 8 percent to 16 percent. There isn't a single credentialed oil economist in the country who would argue that windfall profit taxes are good for consumers.

[RadiantMirage]

Consider that China has many more households than the US, and also consider that there are more uses for crude oil than the production of vehicle fuel, combine that with China's rapid growth and development, and it is not hard to see why China is a factor.

[askquestionslater]

A factor??

The rate of growth (industrial OR private oil consumption) doesn't even touch the tip of 300% price increase when the Saudi suppliers themselves admit it doesn't add up.

How far down the barrel are you people willing to reach just to make excuses for these pigs?

[AntonBatey]

You're obviously one of these bozos who think that oil CEOs just wake up in the morning and arbitrarily decide how much we pay at the pump. You have to take into consideration a falling dollar (caused my an inflated money supply), which causes inflation, excessive taxes, the policy NOT to drill for oil here in the U.S., OPEC, and demand from other countries.

Please learn economics.

[askquestionslater]

"CEOs just wake up in the morning and arbitrarily decide how much we pay at the pump."

And you are obviously one to think having a President raised on oil money who digs his war boots in the middle east, sending his pet pigs to defense industry conventions to beg share buyers and brag about all the money to be made while we pay $4 a gallon is all a silly coincidence.

Screw economics, YOU need to learn common sense! The falling dollar has NOT affected any other product by 300% moron!

[AntonBatey]

I'm getting sick of you strawmaning what I think.Lets get something straight right now...I dont support ANY government interference in the market, got it?Good.And you saying "screw economics"is an excellent display of your intellect. I explained that there are several reasons gas is high, and none of them have anything to do with these"mean"and "evil" oil companies. It's either supply and demand or government interventionism

Buy hey, you can't comprehend anything above "those damn companies"

[AntonBatey]

And I certainly don't support any war either. You're obviously one of these idiots who thinks everyone has to be either a Republicrat or a Demopublican. I'm neither.

[askquestionslater]

...and still no answer as to why it's only oil. That is one mighty selective "intermediate" view.

BWAHAHAHAHA

When government set the stage for the fault, interventionism may not be a choice.

[AntonBatey]

I explained, and you didn't understand. You confessed that you don't care about "economics", and the truth is, oil prices are high due to economics factors. In other words, you're like talking to the fundamentalist religious nut who does not accept anything that's outside the Bible -- his a priori beliefs. Oil is a commodity that sells big. It's being sold in record numbers. There are over 700 million cars in the world, and most of the run on what? Oil...

[AntonBatey]

...Not to mention high tech infrastructure that China and India (a combined population of 2.4 billion) are signing 30+ year contracts with oil. Economics answers most of your questions, but as you admitted, "screw economics". And the reason you don't like these answers is because you don't UNDERSTAND economics. You have no place in this discussion -- you're not smart enough yet. But I can teach you.

[askquestionslater]

...here ya go again. Talking about SUDDEN infrastructures and pointing out how many cars there are in the world as if the number TRIPPLED in 2 years. LMAO

Still can't answer that 300% can ya? Hmm... could it be FEAR MONGERING? *crowd ghasps*

It's only a fear driven market is it not? All of this blabbing and yet you haven't even mentioned that factor. Why? Because Obama and Clinton aren't responsible.

[AntonBatey]

You already said you wont accept any answer that has to do with economics, proving how stupid your position is.

- Supply and demand mean nothing to you

- Taxes mean nothing to you

- ANWAR means nothing to you

- OPEC means nothing to you

- Governments with populations of 2.4 billion+ needing more oil means nothing to you

- 700 million+ cars in the world means nothing to you

- Inflation means nothing to you

- A devalued dollar means nothing to you...

In other words, you're an idiot.

[askquestionslater]

And common sense that says all those added together do NOT add up to equal the amount of price increase in the short time it has taken in the EXACT SAME MARKET means nothing to you either.

Dodge it, dance around it... whine all friggin day Anton. It's not going to add up.

Aggravating, isn't it?

The price of security tacked on the price of every barrel can wipe out 4 of each excuse on that list right off the bat. Do you mention it?

Nope.

Again, politically selective bullshit.....

[AntonBatey]

You're displaying your ignorance in economics (something you admitted you don't know anyhting about). You're assuming that EVERY product contains the same value, price and use-value. You can't compare oil to shoes, computers, sox, TVs, DVDs, or what not. Each product contains it's own demand, which is why DIFFERENT PRODUCTS HAVE DIFFERENT PRICES YOU DUMBFUCK!

Please stay out of conversations like this. I already proved you don't know what you're talking about.

[RadiantMirage]

Another good point to make is that oil companies are publicly traded on the stock market. This means the owners of these "greedy oil companies" are anyone who decides to buy stock in them. So, by taxing those profits, you are essentially taxing the income of anyone who owns stock in those companies for retirement purposes. So much for punishing "the wealthy elite".

All this nonsense about windfall profits tax is just political pandering to an ignorant public that is upset with "big oil".

[AntonBatey]

Well put.

[askquestionslater]

For a party who enjoys threatening our basic, fundamental freedoms they sure like to protect freedom to profit big in the wake of an energy crisis don't they?

This bill that the RepubliCONS filibustered on also included tax breaks for renewable energy.

"Investing in alternatives" my ass.

[AntonBatey]

But imposing a windfall profits tax would be a red herring to the real issue in terms of WHO is making the most money. Oil companies make roughly a 9% profit, while the government taxes 20%. So if anyone is "gouging" consumers, it's government. And the government does do anything to help ensure we get the oil. I'm no Republican, but a windfall profits tax is NOT the solution, it would be throwing gasoline in the fire.

[askquestionslater]

You still avoid the one simple question that nobody seems to want to answer. WHY are prices going so high in such a short time? You honestly think you can convince consumers that there has been a 300% demand increase in 2 years?

Good luck!

Charts showing China vs American consumer demand doesn't mean crap. Only 1 out of every 50 households even have a CAR.

I suspect though that you guys support a puney govt. issued check instead of to compensate not having an answer.

Pathetic!

[AntonBatey]

You'd be the type to support the puny government check. It's MY position that there should be NO government interventionism, not yours obviously. Gas prices are high for a reason, mostly because of a lack of supply. The lack of supply is also due to many factors, much has to do with India and China entering the global market, and also there's inflation.

My video clearly goes over inflation, the money supply, taxes, supply and demand, etc.

[Dustkicker009]

This expalins this whole gas prices crisis a lot to me. I was taught by my teachers, but they had a hard time making it clear to what is going. Thanks for clearing this delima for me

[thomaspaulward]

....ride a bike, walk. Think of all the good that could come from this. If everyone carpooled to and from work we would see less traffic, lower gas prices, less polution, etc.

[thomaspaulward]

I love how everyon plays the blame game every time something isn't just the way we want it. We're just like little children. Sure the government, OPEC, environmentalists, investors, oil companies etc. play a little part in driving the cost of oil, but we as a people are to blame. Oil companies may be making record profits, but consumers are making record purchases. The best solution is a simple inexpensive solution (acually it saves money). Stop driving so much. Carpool, take a bus/train....

[oilhammer04]

Well stated.

[dynamitemike65]

This is the best video by far on why the price of gas is so high. I will refer everyone to this video. You are spot on!!

[petrsakharov]

You are mostly correct, but no one will listen. They want to think Obama and McCain can and will really do something.

[faceswithin]

its not the oil GEO's its the Dem's to make it look so bad for the GOP's and its the guys that hate the USA to make us vote for Obama can't any one see this or is ever one wondering why nothing sticks to Obama if this guy was Bush or Kerry they throw him to the lions so is it beaues he is black or evil? 666 add up his name

[AntonBatey]

There is no real difference between Democrats and Republicans though. No matter who wins the election between Obama and McCain, nothing will be done about gas prices.

[faceswithin]

there is a difference and the Dem's have a town and power no one has the Hollywood and all the actors or should I say Liars by trade that have the ear of many this is where we will find real evil

[AntonBatey]

The difference is very, very minimal. The Republicans act like fascists and the Democrats act like socialists. And there's not much of a distinction between the two since both parties work to expand the Federal government.

[faceswithin]

well you have me there when your right your right. But to me we need to have a races where there are all the ones that were running and let the people vote for them but its this two person thing that I thing is to much power. There is some thing wrong with a man that has friends like that and never answers what they ask him. why did you stay in the church with that mad man? Why did you know Bill Ayers? Do you think back packing across a country really gets you really to leaded us?

[faceswithin]

Its the tree huging Dem's we took Japan we took Iraq but no we are nice people we give it back after we rebuild it. we take it its ours we need to grow up like the black think people that are white are so shocked that a lot of blacks hate us not for what our forfather did just that we are white. But white people that hate blacks for that reason are drag out and made to beg forgiveness we are a sad lot and gas will go down in 73 it was 3.99 and gas lines

[tylerwilliam82]

Oil is outdated and as an advanced country, we should be developing new forms of fuel, there is only so much oil left, and with more developing countries competing for it, it will just get more expensive. Also, oil/gas HAS TO BE TAXED!! how else do we drive on roads for free?? the government needs to quit subsidizing roads and charge tolls on ALL roads.

[mimstech]

Spoken like a true liberal...'if it moves, Tax it'. If you want to lower gas/oil prices, drill ANWR, drill the gulf, drill the Atlantic, the Pacific,shit, drill my backyard!!!! The 'enviro-freak' chicken little "the sky is falling" Gore-bytes are cashing in, (as well as OPEC) on this global warming paranoia. Bring on the NUKES! Hell, more people have died in Ted Kennedy's car than an AMERICAN nuke plant. Thanks Mz. Fonda.

If it's good enough for France....80% of electricty in France is NUKE ;-}

[tylerwilliam82]

No, I am completely on board with the nukes..at this stage in technology, it is the only viable (and cleanest) source of base power along with renewables (wind, solar, hydro, etc.) But alas, we have to live in harmony with the environment, not conquer and destroy it. And taxes, there is no such thing as a free lunch..how else do we pay for the roads? Roads arent free? Tax those which benefit/use them..or subsidize public transit as much as the road system (I hate sitting in traffic every day!

[charlesreich]

AntonBatey for president!

[mimstech]

Who?

[pejape]

gas this and gas that. ob is the president anyway.

[Bonecrkr]

Nothing but lies.

Here is the truth.

There is a shitload of oil in the world. It's worth about $15 a barrel. The only reason it isn't $15 a barrel is monopoly and price fixing by OPEC.

Most of the world's oil is actually in the continental US. Democrats simply block us from harvesting it even though companies really, really, REALLY want to.

For $100 a car, Congress could mandate all new cars use gas, ethanol and methanol. Competition with these other fuels would break OPEC's monopoly.

[AntonBatey]

What are you arguing against? I said OPEC is a prime reason oil prices are high; they're a government cartel which restricts supply, therefore raising prices. But you cannot forget inflation either. I also mentioned that there's abundant oil in North America, but the government does not allow for drilling, which would flood the market with cheaper gas.

[Jamaicandoctor]

This seems to be the voice of a republican...btw you give us relative profits...relative to companies that are not involved in the same goods and services...how can you compare intel or yahoo with an oil company? I'm not saying windfall taxing is right, I personally believe America needs to take the stand that many 3rd world countries have started utilizing solar power and wind power for homes and schools....alternative energy and using what oil we have left where we need it.

[AntonBatey]

I'm not a Republican -- I have a video denouncing Republicans called "Republicans and Big Government Spending". I was comparing profit margins of industries, and showing how oil companies are essentially no different in that regard -- and if anything the numbers bear the opposite results: that oil company's margins are significantly *less* than other industries. The difference is, of course, oil companies make more money...therefore they must be denounced.