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$4gal gas got you down? | 4 comments (4 topical, editorial, 0 hidden)

Re: $4gal gas got you down? (none / 1)

I just don't see a windfall profits tax doing anything but exacerbating the current situation. This problem is

supply v demand -- we're experiencing a decline in easy to refine, light sweet crude in the face of rising global demand.
the mass production of $USDs over the last few decades has caught up with dollar holders. Hence, the dollar is losing value to the oil as dollar holders more readily part with their dollars for energy.
from 84-2002 the oil industry was in a depression of sorts -- terribly unprofitable, and very little reinvestment was done. That infrastructure is in need of vast upgrades, a proposition that unto itself is already directing $ to alternative energy
their profits are large in dollar terms, but very average in % return on the dollar. On average, you water authority gets a better rate of return.
I've yet to see the government spend a dollar confiscated via taxation better than the market. It buys crap like ethanol legislation or pork projects to political interests vs. actual, sustainable solutions. One need only look at Mexico's and Venezuela's energy infrastructure falling apart due to terribly government mismanagement to turn us off to pulling a Maxine Waters on the energy sector.

I'm afraid I don't buy the WPT solution. Rhetoric and demagoguery is not an energy policy, nor is collectivist.

by jcernharth on Tue Jun 10th, 2008 at 03:53:32 PM EST

$4gal gas got you down? (4.00 / 3)

long on RATublican talking points, short on facts. perhaps you agree with the on going RAT meme that it's all clinton's fault for vetoing drilling in ANWR in '95?

fyi, the average price of a barrel of oil in '95 was $16.75, and when clinton left office and chimpy took over, the avg price was $29.305, a far cry from todays price of $131.53.

the energy policies and priorities of this country, as well as the global interests, has got to change. this was an opportunity to show some leadership, but no, we can't have that.

this was an excellent carrot and stick bill...what part of "The oil companies could have avoided the tax if they invested the money in alternative energy projects or refinery expansion" don't you get?

this legislation would have encouraged development and implementation of alternative energy strategies, via corporate investment in lieu of fattening the share holders off shore accounts. we can do it as part of a market based strategy, or we can do it with tax policies. in fact, many of the major oil companies already invest a miniscule amount of their profits in such things. BP, and ConocoPhillips have increased their r&d investments in regard to alternative sources such as hydrogen fuel cells, solar and wind power, and clean diesel fuel made from renewable resources.

the shift in priorities is going to be painful, because since raygun was elected, way back when, big oil and big coal, and big energy have dictated the policies. it's becoming the elephant in the room, and the huge pile of Bushit™ that accompanies it is getting damned hard to ignore.

things are going to change...sooner rather than later. the level of dependence in the u.s. has reached the point of diminishing returns and crushing implications for our economy as a whole..

my 2¢ ymmv

the revolution will not be televised...

by dada on Tue Jun 10th, 2008 at 05:55:41 PM EST
[ Parent ]

$4gal gas got you down? | 4 comments (4 topical, 0 editorial, 0 hidden)

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