http://washingtonexaminer.com/how-obama … GoAL8hkSSp
No big surprise.
Gasoline in my area is nearing $4.00 per gallon again, after dipping somewhat since mid-summer. Meanwhile, let's look at income for the big oil companies. This is not gross revenue, but actual realized net income (ie; profit):
BP: over $40 million per day.
Shell: nearly $66 million per day.
Exxon-Mobil: over $175 million per day.
Combined, these 3 companies "earned" over $280 million every day in the 2nd quarter of 2012, while we paid near-record prices for gas, diesel, and fuel oil. How do you think that impacts the poor?
Same way it impacts me. But the other ain't helping.
Lemme give you a little perspective. I used to own a hybrid. Past tense. Honda civic.
It never got the advertised 50 mpg and I could be driving uphill with my foot on the gas and make that thing light green to the top. Did not matter. I have a Chevy Cobalt that gets better mileage.(33 mpg).
Then you take the sucker for like an oil change? 70 bucks.
Uses 0w-20 oil which is only just now becoming available at your local Wal-Mart. Dealer wanted 8 bucks a quart for it. Yeah I recommend the financially challenged get into one of those.
Well, I opted for a chevy cruze eco, which gets 43 MPG, but all that is beside the point I was making. Until there are viable options to compete with petroleum-based energy, the big oil companies will keep raking in the profits at our expense. We need renewable alternatives developed that are cost-effective.
Having said that, let me go on record as saying that I'm not necessarily in favor of legislatively-enforced innovation. Expanding the tax breaks to individuals and companies that embrace renewable energy will stimulate the market, which in turn will spur investments and innovation in the sector.
But, back to the point of the original post - that green energy impacts the poor more than everyone else - I submit that the rising costs of all energy sources hurt the poor the worst, for the exact same reasons put forth in the article. And that isn't about to change until either the barriers to enter the petroleum markets are eased (ask yourself why, with so much potential profit, there aren't dozens of new companies entering the oil game every day?), or alternative energy sources are prevalent enough to make the oil companies feel the competition.
And just how much was paid in taxes to state and federal governments? More than what the oil companies earned. Aren’t you aware that Our Government and the oil producing foreign states are where the real money goes. The oil companies do all the work and average 3% to 8 % profits.
Do you not realize that the Democratic party controlled government wants higher fuel prices?
Here’s the math:
Higher prizes = higher tax revenues = more spending = Liberal Progressive Agenda Goals
Keep drinking the "evil oil companies" Kool aid, your "leaders" are laughing at your Naiveté and gullibility
"Combined, these 3 companies "earned" over $280 million every day in the 2nd quarter of 2012," - like they would be really interested in alternatives to that kind of dough. Spain has a compressed air car; ever heard of it?
"The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. On average, as of April 2012, state and local taxes add 30.5 cents to gasoline and 29.4 cents to diesel, for a total US average fuel tax of 48.9 cents per gallon for gas and 53.8 cents per gallon for diesel."
by lady_love1585 years ago
http://www.realclearpolitics.com/articl … 09162.htmlObama wants oil to rise in price and he is succeding! The hope is he will create demand for green energy and consequently a green economy with green jobs!...
by CMHypno6 years ago
Obama's attacks on BP are increasingly being viewed in the UK as signs of his anti-British stance. Or is he just trying to pull attention away from his own administration's...
by Gary Anderson4 years ago
Worried about the price of gas? Our oil companies aren't. They export oil in the SF Bay and in April will start exporting West Texas Intermediate (WTI) from the Gulf of Mexico. http://www.businessinsider.com/the-asto...
by Nickny798 years ago
Mississippi and Lousiana get snow: http://news.aol.com/article/rare-snow-c … 1200988198So much for global warming. I bet Al Gore was scheduled to give a speech in New Orleans.
by Don W6 years ago
Would a free market have prevented this from happening?I'm guessing the libertarian argument would be that the failings of state regulation was a contributing factor. Those failings stemming from the fact that the...
by Stump Parrish6 years ago
How do we make sure this doesn't happen again you ask? Deregulate further and open more of the gulf to drilling. That could only makes sense to those in the oil companies back pockets.
Copyright © 2017 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.