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Gogirlgo
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Joined: 25 Jul 2002
Posts: 4777
Location: No deal, stalker.
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 Posted: 04/29/06 - 10:33 Post subject:
I just found $2.98! The highest I saw today on my way to school was $3.19, and so I beat that by a lot.
I'm telling you, though, this is just the beginning of the end. Travel will again become the activity of the elite. And I won't be surprised when food prices go up, too. Oil increase impacts everything.
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camelia bedelia
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Joined: 15 May 2002
Posts: 2808
Location: God's Country
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Posted: 04/29/06 - 11:05 Post subject:
I'm not even sure what it is around here. High $2.80 something.
This is the first year we've planned a big family vacation. We're supposed to drive out to Colorado for my godparents' 50th anniversary and then planned on spending some time seeing the state. By the time August rolls around, who knows if we'll even be able to afford the trip. 
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cherylpf
crazy cat lady
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Posted: 04/30/06 - 09:12 Post subject:
$2.95 yesterday
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megawill
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Posted: 04/30/06 - 10:54 Post subject:
if congress or potus had the kahunas they'd slap a windfall profit tax on the big oil guys..
here is what i'd like to see - (the numbers are debateable but will get the point across)
big oil is allowed to keep first 50% of its profits.
last 50% are taxed at 75% tax rate...
75% tax rate can be avoided if the company reinvests its last 50% in activities to create addtional energy - this could include investing in exploration, drilling activities or in alternative sources.
profits generated from reinvestment by the company are not taxed for 10 years after that hold back period profits are taxed at the firm's corp tax rate.
megawill
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Ms. Jenn
Fresh, Hot & Wild
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Joined: 14 Feb 2004
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Location: Suite 550
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Posted: 05/01/06 - 08:04 Post subject:
I paid $2.75 on Friday.
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sonnylax
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Joined: 30 Sep 2003
Posts: 2942
Location: Living in a lollipop and unicorn world
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Posted: 05/01/06 - 08:26 Post subject:
| megawill wrote: | if congress or potus had the kahunas they'd slap a windfall profit tax on the big oil guys..
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Which will immediately be passed on to the end consumer --- giving the feds more money for pork pet projects. No thanks.
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.jrjo
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Joined: 24 Feb 2006
Posts: 900
Location: Lake Wobegon, MN
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Posted: 05/01/06 - 10:03 Post subject:
| camelia bedelia wrote: | I'm not even sure what it is around here. High $2.80 something.
This is the first year we've planned a big family vacation. We're supposed to drive out to Colorado for my godparents' 50th anniversary and then planned on spending some time seeing the state. By the time August rolls around, who knows if we'll even be able to afford the trip. |
We're planning a trip out west too.
Gas at $2.50/gall = $400
Gas at $2.89/gall = $460
Gas at $3.50/gall = $560
Gas at $4.00/gall = $640
Even when running the numbers, it still becomes only a hundred or two difference in overall cost and for a vacation, that ain't much, really 
I think people go  over gas price and long trips, but when you figure it out, calling off a family vacation over a hundred fiddy bucks is probably not gonna happen, donchathink?
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thegman
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Joined: 23 Sep 2002
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Location: 12 yards out.
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Posted: 05/01/06 - 11:55 Post subject:
| megawill wrote: | if congress or potus had the kahunas they'd slap a windfall profit tax on the big oil guys..
here is what i'd like to see - (the numbers are debateable but will get the point across)
big oil is allowed to keep first 50% of its profits.
last 50% are taxed at 75% tax rate...
75% tax rate can be avoided if the company reinvests its last 50% in activities to create addtional energy - this could include investing in exploration, drilling activities or in alternative sources.
profits generated from reinvestment by the company are not taxed for 10 years after that hold back period profits are taxed at the firm's corp tax rate.
megawill |
Their cojones are already big enough. The average profit on the sale of a gallon of gasoline is around ten cents, but the average state and federal tax on that same gallon of gasoline is about 45 cents.
We end up paying it.
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megawill
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Posted: 05/01/06 - 12:22 Post subject:
| thegman wrote: | | megawill wrote: | if congress or potus had the kahunas they'd slap a windfall profit tax on the big oil guys..
here is what i'd like to see - (the numbers are debateable but will get the point across)
big oil is allowed to keep first 50% of its profits.
last 50% are taxed at 75% tax rate...
75% tax rate can be avoided if the company reinvests its last 50% in activities to create addtional energy - this could include investing in exploration, drilling activities or in alternative sources.
profits generated from reinvestment by the company are not taxed for 10 years after that hold back period profits are taxed at the firm's corp tax rate.
megawill |
Their cojones are already big enough. The average profit on the sale of a gallon of gasoline is around ten cents, but the average state and federal tax on that same gallon of gasoline is about 45 cents.
We end up paying it. |
not sure i understand your (or Sonny's point)...i'm not after the profits...i want the oil company's to ensure by giving them the proper incentive, that the profits are reinvested to move us towards greater independence...
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.jrjo
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Joined: 24 Feb 2006
Posts: 900
Location: Lake Wobegon, MN
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Posted: 05/01/06 - 12:25 Post subject:
| megawill wrote: | | not sure i understand... |
You don't think big oil would pass along any kind of tax increase directly to the consumer?
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megawill
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Posted: 05/01/06 - 12:29 Post subject:
| .jrjo wrote: | | megawill wrote: | | not sure i understand... |
You don't think big oil would pass along any kind of tax increase directly to the consumer? |
not if profits are capped...strict cap based off some ingenious formula...the rest is reinvested or taxed....
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.jrjo
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Location: Lake Wobegon, MN
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Posted: 05/01/06 - 12:42 Post subject:
| megawill wrote: | | .jrjo wrote: | | megawill wrote: | | not sure i understand... |
You don't think big oil would pass along any kind of tax increase directly to the consumer? |
not if profits are capped...strict cap based off some ingenious formula...the rest is reinvested or taxed.... |
Maybe it's just my accounting brain, but capping profits seems like a recipe for Enron-part-duex. Cooking the books would give way too much incentive with monster tax rates like 50% and 75% and especially a finite cap.
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megawill
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Posted: 05/01/06 - 13:08 Post subject:
| .jrjo wrote: | | megawill wrote: | | .jrjo wrote: | | megawill wrote: | | not sure i understand... |
You don't think big oil would pass along any kind of tax increase directly to the consumer? |
not if profits are capped...strict cap based off some ingenious formula...the rest is reinvested or taxed.... |
Maybe it's just my accounting brain, but capping profits seems like a recipe for Enron-part-duex. Cooking the books would give way too much incentive with monster tax rates like 50% and 75% and especially a finite cap. |
definitely, something to take into account...
yet how many barriers do we need to put in place in order to resist change?..
Either it makes sense to change the current set up (i.e., record profits, record gas prices, little incentive to invest in alternatives) or we need to be prepared to just accept the 'as is'...there were plenty of barriers to going to the moon, yet we stared them in the face, made it a priority and were there in less than 10 yrs...why not view this (energy independence) as a similar challenge???
nothing is perfect and quite honestly what i've proposed (which may be pretty apparent to some) is just something I pulled off the top of my head with little thought to all the nuances that would suggest that it is either a good or bad or implementable idea...just trying to generate discussion...would appreciate other's thoughts on how we change the current picture....
---
megawill
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Floridaboiler
POTFH
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Joined: 18 May 2002
Posts: 11322
Location: Jacksonville, Florida
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Posted: 05/02/06 - 10:32 Post subject:
I think the average is about 2.97 around here and it is starting to hurt my wallet. We are going to look long at hard at a planned trip to NJ this summer. Especially since we have to go up there in November.
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sonnylax
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Joined: 30 Sep 2003
Posts: 2942
Location: Living in a lollipop and unicorn world
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Posted: 05/02/06 - 10:56 Post subject:
| megawill wrote: | | just trying to generate discussion...would appreciate other's thoughts on how we change the current picture.... |
Short term/Mid-term
Build a few more refinieries. (We haven't build a new one in the US since the late 60's).
Drill for oil domestically. (See ANWR/Florida).
Enact federal legislation to limit the amount of different gasoline blends oil companies must produce for various states.
Long-term
Encourage bio-fuel and electric hybrid development. Eventually, technology will provide the answers.
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