You're talking to the wrong person. I've been explaining oil companies and drillers are not at fault for oil prices because they are set globally. I've been explaining to the other group TP is not. They need to look at the big picture because almost everything has gone up as much as oil. And forget all the taxation on oil that would only make things worse.
Gasoline is cheaper these days!
- Thread starter DonTom
- Start date
The friendliest place on the web for anyone with an RV or an interest in RVing!
If you have answers, please help by responding to the unanswered posts.
If you have answers, please help by responding to the unanswered posts.
Skookum
Well-known member
- Joined
- Dec 19, 2018
- Posts
- 4,020
That totally explains the record profits.
Professor David
Well-known member
"Dec 15, 2023 (Reuters) - Exxon Mobil’s income tax payments to the U.S. government have dropped to 3% over the past five years – several times below the company’s 20-year average – on massive deductions passed under former President Donald Trump."
How much profit is legal for corporations like Exxon and Tesla to make?
DutchmenSport
Well-known member
Well, at home in Indiana, right now, according to Gas Buddy, my favorite gas station says $2.95 for regular. For Diesel at the same station, its $3.89. I suppose the OP's mathematical adjustment is OK.
I'm currently in St. Francisville, Louisiana. Gas Buddy is not showing any prices right now anywhere is this area!
Zachary, Louisiana is showing $2.73 at Murphy's (Wall Mart) for Regular and $3.59 for Diesel.
Baton Rouge, Louisiana is showing just slightly less than that.
I'm currently in St. Francisville, Louisiana. Gas Buddy is not showing any prices right now anywhere is this area!
Zachary, Louisiana is showing $2.73 at Murphy's (Wall Mart) for Regular and $3.59 for Diesel.
Baton Rouge, Louisiana is showing just slightly less than that.
Skookum
Well-known member
- Joined
- Dec 19, 2018
- Posts
- 4,020
I don't have an answer, but given the monopolistic nature of these companies and the importance of oil in our current state, at some point we need to consider more a necessity like water instead of a commodity. Fuel prices break the back of the working man, we know this.
Yet so many people piss on the idea of reducing the need and expense of oil in our daily lives through different kinds of energy, different kinds of vehicles. It really does boggle the mind. I guess people want these companies to have that kind of control over their finances? I don't have a better explanation.
DutchmenSport
Well-known member
Ah!! I've gone back and read some of the post here!
I have an easy solution to the fuel dilemma! Everyone retire and settle down in a nursing home. No need to drive again! ...
I have an easy solution to the fuel dilemma! Everyone retire and settle down in a nursing home. No need to drive again! ...
Professor David
Well-known member
You are a smart dude and know that the record profits just point out the obscene/corrupt nature of big oils (and other large corporations) low tax rates. It's not about profits but paying a reasonable tax rate. Working people pay a lot more than 0% to 3.5% Federal tax rate. Big corps essentially buy low tax rates through political contributions and lobbying...and abusing the tax system...which isn't fixed due the same political payoffs to a highly/carefully selected group of amoral and corrupt politicians. Of course, a lot of these same politicians have a huge conflict of interest in owning pieces of big corps, serving on corp. boards, and getting rewarded in a variety of other questionable, amoral schemes/ways.
That’s the problem, now for the solution.
Professor David
Well-known member
You tell me. Corruption is the major issue to over come. One reason I retired from the rat race. At least we can agree on the problem.
Laura & Charles
Well-known member
I’m not one to praise our US government much, regardless of party in control. BUT I do know that fuel prices in the US is cheap compared to most all industrial countries when currency exchange rates and cost of living are factored in. And, apparently, the government gets credit for that. (This has been the story for quite a while… so no one party gets to claim credit.)
“Countries game the consumer cost of gasoline through taxes and subsidies, leading to wildly different prices around the globe. In the US, prices are far lower than most large economies because of comparably light taxes at the federal and state level.”
What I can’t understand is why economists become so bearish and Wall Street drives the markets down when oil prices drop. I mean, doesn’t cheap fuel equate to better revenue and profit margins for pretty much ALL businesses besides the energy sector? Yet when crude bbl prices drop, all the talking heads on finance media start wringing their hands and start talking about a crash and the S&P and Dow and Nasdaq start moving down. How is cheap fuel not a good thing for almost all the economy?
“Countries game the consumer cost of gasoline through taxes and subsidies, leading to wildly different prices around the globe. In the US, prices are far lower than most large economies because of comparably light taxes at the federal and state level.”
What I can’t understand is why economists become so bearish and Wall Street drives the markets down when oil prices drop. I mean, doesn’t cheap fuel equate to better revenue and profit margins for pretty much ALL businesses besides the energy sector? Yet when crude bbl prices drop, all the talking heads on finance media start wringing their hands and start talking about a crash and the S&P and Dow and Nasdaq start moving down. How is cheap fuel not a good thing for almost all the economy?
When I was in Germany the disparity between what Americans paid for a litre of gas ( benzene to them) and a German paid was very apparent. The US Gov't had an arrangement with Esso that Americans could use gas ration coupons to pay for gas anywhere on the economy. We'd buy the coupons ( rations) on base which amounted to us paying ~.50¢ or so a gallon while a German at the same pump island might be paying ~$2.00-3.00 a gallon. The German station owners had no say in the matter. The arrangement created resentment with some Germans.
Since their record profit margins are obscene and corrupt I'm assuming you want to put extra tax rates on TP also? TP is "one of the highly polluting industries, most depicted energy- and water-exhaustive industrial sectors in the world".
Like an EV and popular in other countries which already have an alternative solution. So if you care about the environment you should extend a hand to the environment.
Oil prices and profits are set globally but TP manufacturers are using our dependence on them against us. Amoral and corrupt politicians have allowed this to happen the past few years.
But it is time working class people stood up (or sat down) for equality in tax rates. I do wonder if the TP manufacturers would absorb the extra taxation or just pass it along to consumers. Then we would have to set prices and profit margins on everything. There's a word for that, can't think of it right now. Kind of the opposite of capitalism.
Babe2201
Well-known member
Does this mean the economy is good or does it mean people are still spending their money on things they don't need? The car needs brakes or tires but going to KFC is more important.
Oldgator73
Well-known member
The economy isn’t good, it’s great!
Babe2201
Well-known member
That is what they say anyway.
Skookum
Well-known member
- Joined
- Dec 19, 2018
- Posts
- 4,020
Like, people who actually understand the economy. It's not just gas and grocery prices or the cost of borrowing other people's money. I guess "they" are all idiots, right?
Babe2201
Well-known member
Well there you have it. You either agree with Skookum or Oldgator or you are an "idiot".
I use my eyes and ears to tell me a lot of things. My eyes and ears tell me differently than what you and others say.
Skookum
Well-known member
- Joined
- Dec 19, 2018
- Posts
- 4,020
Hmm. No, that's not what I said. Twist it however you want, but perhaps what you are "hearing" about the economy is incorrect. I'd encourage you to actually seek out factual information about the current state of the economy, which would be applauded and celebrated just the same if any other party were in office.
I'm trying to figure out what kind of reading comprehension it would take to deduce Skookum and Oldgator suggested anyone who disagrees with them is an idiot. Play nice.
