Should the OIL companies be subject to a WINDFALL profit tax?

[empee]

the problem is that we let al the mega mergers happen, I agree in freemarkets if you dont consolidate all the E&P or buying power to a few companies then freemarkets would win

 

[dougcs]

Quote from empee:

the problem is that we let al the mega mergers happen, I agree in freemarkets if you dont consolidate all the E&P or buying power to a few companies then freemarkets would win

You raise a valid point if oil was only in the USA; however, it is global with many E&P companies as well as nations who have their own E&P operations.

ANd, why should a Microsoft get away with their essential monoply while oil companies who once every decade or so see their profit margins climb to all the way to that STRATOSPERIC damnable, gouging, greedy level of holy sh.. , drumroll:

8.5% (XOM-2Q05)


Microsoft is now struggling to survive by cutting out free lunches, etc at 36%. Poor Bill, one wonders how he will make his next month's bills.

Oracle cutting corners as well to squeaks by with 38%.

Let's bash them dastardly oil companies and get 'em down to half of MSFTs level; to me, that would be fair, and about double what they are doing.

DS

 

[shorty_mcshort]

Quote from jason_l:

excess profit tax? regulation? I would have hoped folks here would have more sense... "I want to trade the markets, but I'm a socialist and don't believe in market economies or capitalism".

How all these socialists get on a trading site is beyond me? I totally agree with your comment

 

[slackeral]

I wanna come to your huse and take your shit.

 

[steeldust]

its just political grand standing. nothing will ever get done anyway. in canada they scum politicans do it all the time but in the end nothing changes. can they lower taxes on energy? not a chance. can they give a rebate? what, and help poor people,noway.

if the politicans just take money from the energy co's then the energy co's will just adjust their pricesto make up the dif.

 

[gharghur2]

Interesting topic though.
I remember Carter in the late 70's:

windfall profit tax
price controls
hiked the discount rate 1% one day too

inflation galore, long gas lines, gold sky rocketing, and a long bond heading to way over 10%

don't think the powers that be, especialy an oil man prez is even considering any of it....

but it is interesting

 

[murray t turtle]

Quote from gharghur2:

All you guys are professionals, or at least most...

Do you think we should return to a windfall profit tax, like in the Jimmy Carter era?

Exxon made $7 billion profit last quarter, more money than the total capitalization of most listed companies.

I just get the feeling this is going to be the new Capitol Hill debate....

What's your view?

==============
Actually voted for Jimmy Carter once, only once;
but investors.com
is right to slam Carter/Chevez/Gore much this week

No we dont want a windfall profits tax on oil companies or
MSFT or semisector or anything else.

And even though it may well help oil company profits;
could use more solar
ethanol,
bio deisal,
more polar bear area drilling

less gov regulations on refinerys.

 

[dougcs]

Quote from murray t turtle:

==============
Actually voted for Jimmy Carter once, only once;
but investors.com
is right to slam Carter/Chevez/Gore much this week

No we dont want a windfall profits tax on oil companies or
MSFT or semisector or anything else.

And even though it may well help oil company profits;
could use more solar
ethanol,
bio deisal,
more polar bear area drilling

less gov regulations on refinerys.

AMEN, except the part about voting for Carter; I didn't though I was tempted.

DS

 

[dgabriel]

Quote from slackeral:

I wanna come to your huse and take your shit.

Sober up first.