House Votes to Void $14 Billion in Oil Tax Breaks

[ZZZzzzzzzz]

I think Bush will, you don't, so?

Difference of opinion, ain't no thang..

Your bet challenge I find primitive and useless, but if you need to bet on these types of things, tradesports awaits.

Quote from TGregg:

You were the one who said Bush would invade Iran, not me. Now you are saying that's a bunch of bs?

 

[TGregg]

Quote from ZZZzzzzzzz:

I think Bush will, you don't, so?

Difference of opinion, ain't no thang..

Your bet challenge I find primitive and useless, but if you need to bet on these types of things, tradesports awaits.

Nobody there is as wasteful with their money as you are with your opinions, sad to say. I'm sure folks would have beat me to the easy money otherwise.

EDIT: Most nobody, I should have said. There are just a few gomers left, but the pros get them pretty fast.

 

[TGregg]

Gotta come up with a title to post how I was right again on this thread:

How bout "How can the libs stand it? TGregg right again!!!"

 

[tradermaji]

TGregg and ZZs...

Stop fighting kids over semantics.

Why don't you two discuss whether voiding this tax break for the fat oil cats is good for the US economy or not? Most important, how can we use this information to trade, if at all it can be traded/invested using oil sector stocks, futures, etc.

 

[AAAintheBeltway]

Quote from ZZZzzzzzzz:

Rescinding tax breaks is not punishment, it happens all the time. With a democratic controlled congress, they are lucky we didn't see a windfall profits tax bill.

Why did the oil companies get those tax benefits in the first place? If $50 buck or higher oil is not enough profit incentive for these pigs, then they deserve to go bust.

Oh yeah, Bush and Cheney are oil men...and for 6 years congress were their yes men.

I am not talking about tax benefits. I am talking about the oil leases that were signed in the Clinton administration that somehow omitted a provision that gave the government an extra kicker if prices exceeded a certain level.

The Bush administration looked at it and decided they couldn't invalidate the leases. Now the democrat congress wants to target companies that will not renegotiate those leases.

I am not sure if the Contract Clause of the Constitution applies to the federal government. But what they are doing is clearly unfair. A deal's a deal. What they should be looking at is how the mistake happened in the first place. Of course, since it was a Clinton administration mistake, the media has no interest in it.

 

[Arnie]

Quote from ZZZzzzzzzz:

As if...

14 Billion is nothing to the oil industry...and will have virtually no impact at all on oil prices.

Now, your boy Bush, and his impending needless attack of Iran, that will impact oil prices...

Yes, the vote is a feel good story, because for nearly 6 years we have had a bunch of corrupt republiklans in congress who did nothing but look after themselves...paying attention primarily to where their lobby money was coming from.

Sorry to see you get your panties in a twist, but the FACT is, if you make domestic oil more expensive than imported oil, then guess what? WE IMPORT MORE OIL! But at least they get to stick it to "BIG OIL". Now bend over and say "thank you sir, may I please have another".

 

[ZZZzzzzzzz]

Oil companies have plenty of money to sue the government if their rights were violated...happens all the time.

Quote from AAAintheBeltway:

I am not talking about tax benefits. I am talking about the oil leases that were signed in the Clinton administration that somehow omitted a provision that gave the government an extra kicker if prices exceeded a certain level.

The Bush administration looked at it and decided they couldn't invalidate the leases. Now the democrat congress wants to target companies that will not renegotiate those leases.

I am not sure if the Contract Clause of the Constitution applies to the federal government. But what they are doing is clearly unfair. A deal's a deal. What they should be looking at is how the mistake happened in the first place. Of course, since it was a Clinton administration mistake, the media has no interest in it.

 

[ZZZzzzzzzz]

Brain dead dinosaurs like yourself still think oil is the solution, it ain't.

Quote from Arnie:

Sorry to see you get your panties in a twist, but the FACT is, if you make domestic oil more expensive than imported oil, then guess what? WE IMPORT MORE OIL! But at least they get to stick it to "BIG OIL". Now bend over and say "thank you sir, may I please have another".

 

[sputdr]

So you think the oil companies are going to absorb the increase and not pass it on the the consumer?

They can certianly absord it but won't, ultimately the consumer will be punished but lefties just can't understand the concept.

Quote from ZZZzzzzzzz:

As if...

14 Billion is nothing to the oil industry...and will have virtually no impact at all on oil prices.

Now, your boy Bush, and his impending needless attack of Iran, that will impact oil prices...

Yes, the vote is a feel good story, because for nearly 6 years we have had a bunch of corrupt republiklans in congress who did nothing but look after themselves...paying attention primarily to where their lobby money was coming from.

 

[ZZZzzzzzzz]

14 billion to the entire US oil industry is nothing...

Have you even look at the profits of oil companies over the past couple of years?

The last thing they need is some tax breaks right now. Those greedy bastards can just hide their money off shore like Haliburton does.

I would understand it slightly if the oil industry were struggling...but they ain't.

Gee, what a insipid post from another ditto headed freeze dried rightwinger...

Quote from sputdr:

So you think the oil companies are going to absorb the increase and not pass it on the the consumer?

They can certianly absord it but won't, ultimately the consumer will be punished but lefties just can't understand the concept.