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Because the #1 source of energy in the most energy-using country is: OIL! Profit through volume, looking at pure numbers without context means nothing. Apple makes far more profit on a gizmo then the oil companies do on a barrel.
I'm going to give you a chance to retract that statement before my head implodes. Because I know that your smarter then that statement.
You'll be happy to know that there are a few people pushing to reduce subsidies across the board. And I agree with alternative energy. We should have gone nuclear 30 years ago. Cars shouldn't be saddled with several hundred pounds of junk. Our 55mph limit should have been 65mph 20 years ago after the 80's box-on-wheels designs went away. Putting a footprint for a bank of solar panels shouldn't increase my taxes.
I won't walk back that statement. Producing more oil in the U.S is going to only have minimal impact on oil prices. Its going to take ten years to use, we are still going to need to rely on the Middle East and Big Oil. We need to move away from oil all together,
As far the subsidies removal, I really don't see any movement across the board to remove them. The House recently held a vote to remove one of the larger tax credits for oil Companies that was just about as Party line as a Party line vote can get (failed 241-171)
I won't walk back that statement. Producing more oil in the U.S is going to only have minimal impact on oil prices. Its going to take ten years to use, we are still going to need to rely on the Middle East and Big Oil. We need to move away from oil all together,
As far the subsidies removal, I really don't see any movement across the board to remove them. The House recently held a vote to remove one of the larger tax credits for oil Companies that was just about as Party line as a Party line vote can get (failed 241-171)
1970's: No we can't drill here. It'll take 10 years to develop.
1980's: No we can't drill here. It'll take 10 years to develop.
1990's: No we can't drill here. It'll take 10 years to develop.
2000's: No we can't drill here. It'll take 10 years to develop.
2010's: No we can't drill here. It'll take 10 years to develop.
So when exactly are we going to look to the future and make a decision on attempting to stabilize US oil?
You should pay attention to the GOP this year. So long as Romney et al RHINOs stay out there should be a decent spread of noninterventionalists who disagree with the .gov being involved in peoples lives and business.
1970's: No we can't drill here. It'll take 10 years to develop.
1980's: No we can't drill here. It'll take 10 years to develop.
1990's: No we can't drill here. It'll take 10 years to develop.
2000's: No we can't drill here. It'll take 10 years to develop.
2010's: No we can't drill here. It'll take 10 years to develop.
So when exactly are we going to look to the future and make a decision on attempting to stabilize US oil?
You should pay attention to the GOP this year. So long as Romney et al RHINOs stay out there should be a decent spread of noninterventionalists who disagree with the .gov being involved in peoples lives and business.
What we need to do is move away form oil all together Take the billions and billions that go to the oil companies via subsidies and invest that $$$ in other sources. As far as paying attention to the GOP this year, well they just had a chance to remove one of the subsidies, the vote was 241-171, EVERY SINGLE REPUBLICAN voted against ending the subsidy, EVERY SINGLE ONE.
What we need to do is move away form oil all together Take the billions and billions that go to the oil companies via subsidies and invest that $$$ in other sources. As far as paying attention to the GOP this year, well they just had a chance to remove one of the subsidies, the vote was 241-171, EVERY SINGLE REPUBLICAN voted against ending the subsidy, EVERY SINGLE ONE.
I agree we need to move off oil, but it's not going to happen anytime soon. You have to actually make stuff and iron out the current deficit issues we have here before you can start investing trillions into other sources of energy. Read my post here on the deficit spiral we are potentially looking at if we don't put a stop to it now..that post might've gotten buried on pg4 before you could see it.
On ending the subsidies...we really need to be careful with this. Maybe it might seem like a good idea, but take a look at what Transocean LTD did a few years ago--they pulled their HQ out of the US, moved their top execs and incorporated in ZUG, Switzerland. Saving them nearly $2 Billion a year in taxes that would've gone to the US. Would you be able to guarantee that these valuable energy companies don't pull out of the US if we pull subsidies? It's a tricky situation.
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Also, adding to my last post on pg.4, I'm reading that Obama might veto HR 1230. Next week, the House will vote on H.R. 1229, the Putting the Gulf Back to Work Act, and H.R. 1231 the Reversing President Obama’s Offshore Moratorium Act, both also cosponsored by Thompson.
I agree we need to move off oil, but it's not going to happen anytime soon. You have to actually make stuff and iron out the current deficit issues we have here before you can start investing trillions into other sources of energy. Read my post here on the deficit spiral we are potentially looking at if we don't put a stop to it now..that post might've gotten buried on pg4 before you could see it.
On ending the subsidies...we really need to be careful with this. Maybe it might seem like a good idea, but take a look at what Transocean LTD did a few years ago--they pulled their HQ out of the US, moved their top execs and incorporated in ZUG, Switzerland. Saving them nearly $2 Billion a year in taxes that would've gone to the US. Would you be able to guarantee that these valuable energy companies don't pull out of the US if we pull subsidies? It's a tricky situation.
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Also, adding to my last post on pg.4, I'm reading that Obama might veto HR 1230. Next week, the House will vote on H.R. 1229, the Putting the Gulf Back to Work Act, and H.R. 1231 the Reversing President Obama’s Offshore Moratorium Act, both also cosponsored by Thompson.
In some cases these companies already get out of paying taxes (Exxon-Mobil a couple years ago). Fact of the matter is we shouldn't be sending out billions upon billions of subsidies to the most profitable industry.
What we need to do is move away form oil all together Take the billions and billions that go to the oil companies via subsidies and invest that $$$ in other sources. As far as paying attention to the GOP this year, well they just had a chance to remove one of the subsidies, the vote was 241-171, EVERY SINGLE REPUBLICAN voted against ending the subsidy, EVERY SINGLE ONE.
OK, so lets explore the "get away from oil" bit. I don't know what peoples gripe is about it, but we can academically explore the concept.
What do we use for household energy, especially here on LI?
What do we use for storage of energy, especially in our cars?
What is the proposed alternative for heating sources?
There is a lot to go with just with those 3 simple questions. The hard thing about gettting away from oil in a realistic sense is that stored energy per volume which is easily maintained, sourced, and is relatively low on the toxicity scale.
As for reducing subsidies, sure just post up WHAT the subsidies are for. Energy companies like GE gets money for producing green energy sources, I'm sure oil companies do as well.
Quote:
Originally Posted by Smash255
In some cases these companies already get out of paying taxes (Exxon-Mobil a couple years ago). Fact of the matter is we shouldn't be sending out billions upon billions of subsidies to the most profitable industry.
Many companies don't pay or pay very little in taxes. Depends on the year, .gov kickbacks, off shore spending/income, etc. Again, GE is a huge and profitable company, they have not paid taxes.
1970's: No we can't drill here. It'll take 10 years to develop.
1980's: No we can't drill here. It'll take 10 years to develop.
1990's: No we can't drill here. It'll take 10 years to develop.
2000's: No we can't drill here. It'll take 10 years to develop.
2010's: No we can't drill here. It'll take 10 years to develop.
So when exactly are we going to look to the future and make a decision on attempting to stabilize US oil?
You should pay attention to the GOP this year. So long as Romney et al RHINOs stay out there should be a decent spread of noninterventionalists who disagree with the .gov being involved in peoples lives and business.
Say the U.S. drilled EVERYWHERE they could find oil within the U.S. and its territories. Would we be independent of foreign oil? I don't think so. Not even close. What we have to think of is how much of a difference will it make versus the environmental risks. Is it worth the risk of destroying the environment of our country? Can we focus on innovation and making the process safer? The damage is still there in the Gulf of Mexico and will be there for many, many years. This is not even to mention the environmental risks of nuclear power, coal, natural gas, etc. I am not a big tree hugger totallly against any development, but you have to realize that we only have one earth to live on. We cannot flee to another planet if we ruin this one ... at least not yet!
We have to find a balance somewhere and focus more on innovation in energy sources that are not so hazardous to the earth itself like solar and wind for example. Too bad Tesla got run out of town by people like Edison. In his lab out on LI he had developed an invention where people could have a metal stick (to describe it inelegantly and imprecisely) in their yard that would be able to provide them with FREE electricity with no risk to the environment. Of course that was seen as VERY BAD NEWS by the titans of industry ...
OK, so lets explore the "get away from oil" bit. I don't know what peoples gripe is about it, but we can academically explore the concept.
What do we use for household energy, especially here on LI?
What do we use for storage of energy, especially in our cars?
What is the proposed alternative for heating sources?
The first question should read "...especially in the north east?"
What happens to the cost of retrofitting all of these oil heated structures as the demand grows to switch to the alternative energy source? Look at the cost of solar and the payback period. Are there going to be government grants so that all can afford conversions? Does this point us in the direction of cap and trade? If oil becomes a pariah, solar unreliable in some areas (gray northern winters), wind only capable of meeting a limited demand, nuclear facing foes because of our aging plants...will gas become our alternative, and if so, will foreign owned companies like National Grid devour us with rate hikes?
We don't even have to stop using oil altogether but eventually it would be nice. A program putting 2 solar panels on every roof would put a major dent in oil demand from the US. Building more clean coal engines for cars(instead of gas) would help alot too. Clean coal miles per gallon were estimated at the equivalency of 60mpg as opposed to a gasoline car with 20-25mpg. This is also much better than a hybrid engine which is only slightly better (30-35 mpg) in the mpg than just gasoline.These cars can also be made for the same price, unlike electric cars which are frequently in the $40k+ price range.
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