Democrats propose tax on 'offshore' oil

[melensdad]

Since when do companies pay tax?

Won't this just raise the price at the pump?

And since our government won't let oil companies drill onshore, and since this will just raise the price per gallon of what they drill offshore, won't this just increase our dependence upon foreign oil?

Print Story: Democrats propose further tax hike on offshore oil - Yahoo! News

Democrats propose further tax hike on offshore oil

1 hr 59 mins ago

WASHINGTON – Senate Democrats are moving to quintuple the tax that oil companies pay into an oil spill liability fund.

The move would raise $15 billion over the coming decade as Congress seeks to shore up the fund in the wake of the catastrophic spill in the Gulf of Mexico. But it's also being used to ease a tax hike passed by the House on investment fund managers.

The new legislation would raise the tax on oil produced offshore from 8 cents to 41 cents per barrel. That's nine cents higher than legislation that passed the House last month.

 

[printcraft]

Of course it will be passed on to the end consumer.

What is the difference of off shore oil compared to on shore oil once it gets to the refinery?

Last time I checked there are not any refineries off shore.

Also, the oil companies intermix the oil and gas, there are only so many pipelines.

Same gas gets different additives at different locals.

 

[melensdad]

So I'm guessing that you agree with me. This is just a way to tax us without most of the people even understanding that we are getting taxed because they will believe the oil companies pay.

 

[printcraft]

So I'm guessing that you agree with me. This is just a way to tax us without most of the people even understanding that we are getting taxed because they will believe the oil companies pay.

Exactly.

What industry eats cost?
The end consumer always pays although many are not intelligent enough to see it.

It is a self sustaining way to crush business.

"I'll make those evil capitalist sob's pay." "Yeah"
"Hey, they raised prices, those evil sob's." "Yeah"
"Let's drag them up before congress and make them pay." "Yeah"

 

[rambone]

*That* should help boost the economy. Better do it soon while people are upset from repeatedly being shown dead dolphins on TV.

 

[rambone]

As we watch the events unfold following this disaster, it will become more apparent how phenomenally convenient this whole "event" was in terms of timing for boosting Obama's agenda. He wants his Cap & Trade, now it will find new support from emotionally charged sheep who believe his taxes will save animals.

 

[Lucas156]

lets just tax everything that'll fix it

 

[Leadeye]

Oil spill liability fund? Sounds like "social security lockbox" to me and probably just as real.

I don't see how cap and trade which is aimed primarily at electricity generated by coal is even related to this spill in the gulf. I don't think anybody is digging for coal under the ocean.

Cap and trade makes really big money for european merchant bankers at the expense of everybody living in this country. They have handed out suitcases of cash to lots of people in DC and are demanding the law be passed now. It's up to the political spinners to sell americans on it.