Do you think that it would help lower our gas prices if we tax the big oil companies?

before you tax big oil, perhaps you should ask your government why they give huge subsidies and tax breaks to the oil industry??? the number reported was about 30 billion dollars, and to think one does get gouged at the pumps. and what was Exxon's profit for the first three months? almost 11 billion.Do you think that it would help lower our gas prices if we tax the big oil companies?
ALL business operating expenses are passed down to the consumer in one way or another.Do you think that it would help lower our gas prices if we tax the big oil companies?
They are robbing us, and giving them more subsidies like Bush has proposed while they make record profits, sure isn't the answer
I'm sure it wouldn't lower the prices, but it might lower our taxes a bit. :P I think it's a good idea, in any case; they make way too much profit considering how much the rest of us are paying for it, and we need economic incentive to research alternative energy instead of oil anyway.
Couple of facts...


Oil is traded publicly... WORLD WIDE


You could tax oil companies, but your car doesn't run on gas.


Some other factors that result in high gas prices; REFINING (your car doesn't actually run on oil) - the Kyoto Treaty (signed by Bill Clinton) closed about 1/2 of our gas refineries... plus, federal regulations that raise the octane requirements, it now takes more oil to make the same amount of gas...





And the ultimate... Oil companies (all of them) are publicly traded. Raise their margin, and they will make it up somehow. The people that have stock want to be paid! They will get paid!
We would have to tax the windfall profits so heavily they would not have an incentive to keep robbing us.
No. I think lowering the amount of tax incentives we give them would be nice, but it won't change the price.





Break up the oil companies into more smaller companies, it's been done before -- that would help. Regulating the commodities would be the fastest way to reduce prices.





Biggest factors are global and have to do with OPEC and the value of our falling dollar. Get out of Iraq, stop threatening Iran -- those would help the most as far as OPEC's price is concerned.





Something more radical would be replacing income tax with a carbon tax. ;)
Sure, and it would get more computers to those in need if we taxed Microsoft, who makes ten times the profit margin of 'big oil'. Why not do that? The dirty little secret is that the government makes more off of a gallon of gas than anyone, but they can legislate reform because they have the real power over this, and they are not about to give it up.
I thing they are probably over taxed already. Adding taxes never creates lower prices! Who do you think will pay them?


The consumer of course. I thing it is time for you to take a course on economics; it would do you a world of good.
no. just because you impose a tax on the oil companies, how would that lower gas prices? that would only work if the government used the tax to give us subsudies on our gas purchases, and they sure aint going to do that once they get their hands on it. they are liars if they tell you that it will lower prices.
No they will just pass along their additional cost in taxes. They are a business and they have a certain percentage profit they want to make, if it is 5% profit then the make a nickle on $1 gasoline but the make 15cents on $3 gasoline that is why they are making such huge profits now not that they are greedy they are still making the same percentage the cost of materials has gone up.
The oil companies make about 2 cents a gallon on gasoline.


That's been stable for years and that's not where their profits come from anyway.


Oil companies have had a higher than average return on investment in only 4 years out of the last 2 decades - lower than for most American businesses.





Taxing oil company ';profits'; would SLOW if not STOP our efforts to become energy independent.


Their profits are reinvested in research and development, exploration for new sources of oil and natural gas, acquisition of leases for development, alternative energy, refinery capacity in other countries that allow them to build, and other business development.


Most of this creates JOBS and expands the economy.


The profits are passed on to shareholders, 70% of whom are ordinary Americans who hold oil and gas company stocks through union and regular pension funds, mutual funds and small brokerage accounts. This means YOU - and you pay taxes on this money at the point when it is subject to capital gains taxes which the Democrats want to raise.


Taxing it again would be DOUBLE taxation on YOU.





Americans are upset that they have to pay more at the pump but striking out at oil companies in anger solves nothing and harms the economy and our national efforts at energy independence.


We only hurt ourselves.


Taxation should not be punishment because we don't like somebody.
Get a grip. Big oil would simply pass the added cost on to consumers. Taxes are never the answer because it is always the little guy who ends up paying!
Having passed third grade math, no I don't think that adding two positive numbers produces a smaller number, But if you doubt my math any good third grader should be able to crunch the numbers.
Not really, the problem is refineries, and Bush killing relations with the middle east. Even if we get oil cheaper it is bottle neceked at refineries which means it will lower the supply and up the cost. The touchy thing is oil refineries are very not green and terrible for the environment and no one city wants them in their town, plus they are expensive too. with all the world going green the refinery fight hurts. taxing oil companies could help in other area's though with the price of everyrthing rising.
Attacking the producers is the WORST solution.