Originally Posted By BPSJP What does DFTSP mean? Not hear that long and don't know what your trying to say?
Originally Posted By gadzuux Despite my better judgement . . . Oil extracted anywhere - the gulf, alaska, the middle east - goes on to the world market. There is NO DIFFERENCE between 'domestic' and 'foreign' oil. For that matter, shell is a foreign company - dutch. Additionally, oil pumped from Alaska would likely NOT make it to the US, but rather be shipped to asia and/or india. So you may think this jingoistic exercise of promoting domestic oil makes sense, because the "drill baby drill" crowd tells you so. But here's the rub - they lie - every day. Some people believe them, most people know better.
Originally Posted By BPSJP >>2 DFT transparent SP<< "DFT transparent SP" if you're upset about market forces then just argue that point, but have no idea what you are saying?
Originally Posted By BPSJP >>Additionally, oil pumped from Alaska would likely NOT make it to the US, but rather be shipped to asia and/or india.<< Right, thank you for proving my point, we can not control oil prices in America like we can electricity and natural gas since we produce most of that here, but oil is mostly imported from out if the country and much harder for us to control.
Originally Posted By BPSJP >>Additionally, oil pumped from Alaska would likely NOT make it to the US, but rather be shipped to asia and/or india.<< Right, thank you for proving my point, we can not control oil prices in America like we can electricity and natural gas since we produce most of that here, but oil is mostly imported from out if the country and much harder for us to control.
Originally Posted By gadzuux Thank you for missing my point. It doesn't matter whether the oil is imported or domestic - the price is determined by world markets. Simply pumping more here doesn't change that. You seem to imply that the solution to high gas prices is to create our own domestic supply of US crude, but it just doesn't work that way.
Originally Posted By BPSJP >You seem to imply that the solution to high gas prices is to create our own domestic supply of US crude, but it just doesn't work that way.<< Well actually it does work that way. Supply and demand, says when you have to much of a product the price will go down, and when supply is tight it will go up. So if we produce more oil and their is a world wide glut the price will fall. This is simple economics but I agree there are people who don't believe it, they rather think the government can fix everything by punishing the privet sector.
Originally Posted By FaMulan Back to the original topic, my wish is that they wouldn't have released so much very preliminary and possibly unsubstantiated info. It's one of the reasons I'm not practicing in my degree field. From the first release of the news until now there have been too many revisions and not enough disclaimer that it was pretty much preliminary. <<These are not "reporters", they are "sensationalists". << Another reason I'm not working in my degree field.
Originally Posted By RoadTrip The government may not be able to control the price of oil. But they CAN stop giving away badly needed tax revenue by eliminating tax breaks to companies that clearly don't need it.
Originally Posted By BPSJP > But they CAN stop giving away badly needed tax revenue by eliminating tax breaks to companies that clearly don't need it.<< As long as you know it will do nothing to help the economy, but yes will make some people feel better. We should take the money and put it into oil shale research, if we can get oil from Shale at a competitive price our energy problems would be over.
Originally Posted By Mr X What does one have to do with the other? Does EVERYTHING the government oversees have to pertain directly to economic growth (which by that I mean mostly economic dominance benefitting only a relative handful of movers and shakers the government is looking out for)? What's wrong with companies paying a decent amount in taxes towards necessary infrastructure and social programs ALL Americans use (even the rich ones)?
Originally Posted By Dabob2 <As long as you know it will do nothing to help the economy,> A ridiculous statement. Part of the problem (sometimes overstated, but certainly a problem) is our debt/deficit. Companies that are making record profits clearly don't need subsidies from the taxpayer - because newsflash - that's ultimately who they come from.
Originally Posted By BPSJP >>What's wrong with companies paying a decent amount in taxes towards necessary infrastructure and social programs ALL Americans use (even the rich ones)?<< America has the highest corporate tax rate in the industrialized world, so what will be enough taxes for them to pay? Do you want all successful corps to leave us, or just most?
Originally Posted By Dabob2 <America has the highest corporate tax rate in the industrialized world> We have the highest "official" corporate tax rate. We do NOT have the highest effective tax rates, because various industries and their congressional allies have built loophole after loophole into the tax code that allows a corporation like GE to make something like 14 billion in profits, and pay ZERO income tax. I'd be all for lowering the official rate IF you got rid of all the loopholes. But step 2 MUST come before (or simultaneous with) step one.
Originally Posted By BPSJP >>Obama jobs chief -- the CEO of GE -- pays no corporate taxes<< (GE made over 14 billion in profits in 2010. <a href="http://content.usatoday.com/communities/theoval/post/2011/03/obama-jobs-chief----the-ceo-of-ge----pays-no-corporate-taxes/1" target="_blank">http://content.usatoday.com/co...-taxes/1</a> True, allot of Ovama's biggest corporate contributors to his campaign payed little or no tax, but this is do to political corruption. The oil company's where among the highest contributors to our tax base.
Originally Posted By gadzuux >> Companies that are making record profits clearly don't need subsidies from the taxpayer << The actual "offical" GOP talking point on this is no less ridiculous than anything BJ could come up with. The stated reason is that they're the "job creators" and this is the republican method for solving the unemployment problem. And really, it doesn't matter what the problem is - unemployment, tanking economy, spiraling prices, stale chips - the republican solution is always the same - massive tax breaks for corporations and the wealthy. It's the cure for everything. I've got some snake oil I'd like to sell you.
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