GAS PRICES and Excess Profits. Whitehouse on Senate floor LIVE now.

[L. Coyote]

Can't wait until this YouTube is out!!

$116 BILLION in profits last year ... 17 BILLION in tax breaks!!!!

[DangerDave921]

1. What was their profit margin? eom

[L. Coyote]

3. There was a great graphic chart, showing profits rising at triple the price of gas!!

[ladjf]

5. The CEO's should be in prison for price rigging.

[L. Coyote]

7. That is part of the proposed law, persons, even nations, would be covered,

if they engage in fixing prices. My one concern, they would manipulate that to carry out further attacks on Venezuela.

Venezuela 101 - Understanding Recent Events - BUSH vs. Venezuela
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3313519

[ColbertWatcher]

11. Is this it?

[ladjf]

2. An all out National effort toward the use of alternate energy is

the obvious solution to the oil monopoly lunacy. Within five to ten years, the oil monopoly could be wiped out. Oil would still be valuable, maybe selling for 60 or 70$ per barrel.

What is stopping us? The oil, coal and nuke interests have control of our National energy policies.
Congress has the authority to cut them off at the knees. Will they do it? Not too likely. Why not?
I'm not sure but it appears that too many of them are on the "take".

[L. Coyote]

4. I'd like to see a candidate run on natrionalizing the oil companies.

Just to see the response of the People.

[ladjf]

6. The nationalizing of the oil companies would be one quick

way to make some big progress in this energy dilemma. We all know that the American people aren't politically astute enough to vote for a politician who advocated nationalization.

[DangerDave921]

8. What can't . . .

the government just seize the oil fields and take over production? That way, there would be no fat-cat CEO's and profits to worry about. We would get oil and gas at the proper cost.

[ladjf]

10. That's a good idea. However, the American people are not

astute enough to support such a move.

[NewJeffCT]

12. Truman tried that with the steel industry, I think

but, the courts shot him down.

[BigDaddy44]

14. uhhh.....

you mean the oil fields in Saudi Arabia? and Iran? and Iraq? oh wait....scratch that last one.....we already did that.

Yes, lets invade Saudi Arabia and Iran and take over production.

[DangerDave921]

18. US Only

There is a lot of oil in the US, you know.

And the government could take over the refineries and processing, too, you know.

[BigDaddy44]

19. We import over 50% of our oil

What problem exactly does this solve?

[DangerDave921]

20. Because

I thought the high prices were being caused by US oil companies gouging us and taking obscene profits. So if we have the government run it, then we won't have that problem any more.

[Parche]

9. Whitehouse Rocks

He is going to be the next President in 2012
:woohoo: :woohoo:
He is one of the smartest, most articulate Senators I have seen in a long time
:hi:

[NewJeffCT]

13. While I agree with getting rid of the silly tax breaks...

How does one quantify "excess" profits? Is it over a certain percentage? Is it over a certain amount of dollars? Then, do oil companies just dividend out their "excess" profits to shareholders so they avoid paying an excess profits tax?

The profit margins of the oil companies are not HUGE when you consider the cost & distribution of the oil & gas. Their overall profit margin has been in the 9-11% range.

[L. Coyote]

17. Tax breaks is a small piece of the pie. We give them the oil in the ground too!!

Practically all the oil under the Gulf of Mexico was gifted the Big Oil!!

[Junkdrawer]

15. Let them keep their money...we get to embarrass them on C-Span...

That'll learn 'em....

[Dukkha]

16. This pointless charade again?

:eyes: