>
> --- In [email protected], "jyouells2000" <jyouells@>
> wrote:
> >
> > --- In [email protected], anon_couscous_ff <no_reply@>
> > wrote:
> > >
> > > --- In [email protected], "jyouells2000" <jyouells@>
> wrote:
> > > >
> > > > --- In [email protected], MDixon6569@ wrote:
> > > > >
> > > > >
> > > > > In a message dated 4/23/06 5:07:29 P.M. Central Daylight
> Time,
> > > > > noozguru@ writes:
> > > > >
> > > > > I would like to see a windfall profits tax on the oil
> > companies. I
> > > > > don't mind the price of gas going up if it is from taxes to
> > improve
> > > > > roadways, bridges and make mass transit more ubiquitous.
> And
> > those
> > > > > taxes should not be golden goose for gouging contractors
> either and
> > > > they
> > > > > should ONLY be used for transportation projects. The
> scariest
> > > > thing is
> > > > > to see some mindless woman aiming her Ford Expedition or
> Lincoln
> > > > > Navigator while blathering on her cellphone. I think we
> should
> > make
> > > > > thought vehicles require truck licensing and take away the
> tax
> > > > break on
> > > > > them.
> > > > >
> > > > >
> > > > >
> > > > > Don't you think we have enough tax on gasoline? The
> government
> > > > makes more
> > > > > off a gallon of gas than the oil companies do and they have
> no
> > > > investment. The
> > > > > last I heard the government makes about 50 cents a gallon
> and the
> > > > petroleum
> > > > > companies 7 to 8 cents. Actually I would rather hear the oil
> > > > companies side of
> > > > > the story as to why prices are up instead of the usual
> accusations
> > > > that they
> > > > > are gouging without any proof. Surely the truth lies
> somewhere in
> > > > the middle.
> > > > >
> > > >
> > > > About a month ago I heard that total tax on a gallon was
> $0.67. Ouch
> > > > Lots of money....
> > > >
> > > >
> > > > JohnY
> > >
> > >
> > > Its quite low, huh. If congress and the admin had been far
> sighted and
> > > had some courage 10-20 years ago -- best yet 30 years ago during
> the
> > > first oil crises, and added an annual cumulative 10-20 cent tax
> on gas
> > > (all BTUs actually) and plowed the full tax revenues back into
> > > aggressive incentives for more far more efficient cars, different
> > > types of engines (natural gas, electric, hybrid) as well as
> doing far
> > > more to jump start solar and wind, etc, demand for gas would
> have
> > > gone way down, total prices would have fallen (at least relative
> to
> > > their actual trend), total gas bills would have decreased (50%
> use x
> > > reduced oil price + tax), arab sponsored terrorism would have
> been
> > > funded far less, the air would be cleaner, greenhouse gas buildup
> > > would be far less, GNP would be growing faster, and the reveneus
> we
> > > see now going to oil companies oil lease holders would be far
> less,
> > > defense spending would have been far less (to keep oil lanes
> open,
> > > oil sponsored terrorists at bay, and the US rep around the world
> would
> > > have been far more friendly -- for not beefing up oil patrons,
> > > invading oil countries,etc.
> > >
> > Gov't is not that farsighted, it tends toward selfish-interest ...
> > capitalism might do it, if the price keeps climbing.
> >
> > JohnY
> > ps. pundits won't do it either...
> >
> Speaking of record profits by the oil companies, I researched this
> recently and found out that it now costs the oil companies about
> $1.50 to make, market and sell a gallon of gas. Add the US tax to
> that and total equals ~$2.25, total. the rest is pure ,er, gravy...
well at $3.00 per gallon -- a recent high, it was $2.50 until very
recently, thats 10-30% operating margins. From this, interest payments
from debt and amortization of intangibles from acquisitions are paid.
As are dividends. And taxes (35% of profits). The remander is retained
(aka retained earnings) to reinvest in more efficient, (including less
polluting) technologies, exploration for new fields -- usually risky,
and exploration of new unique (and expesnive) methods like oil shale.
High profits are a good thing. It means more cash that can be
reinvested in new techology, creating new efficiencies,and raising
productivity -- which are highly correlated with salary and wage
increases.
Not excessive across all industries, particularly on a risk adjusted
basis. (And if not adjusting for risk -- any analysis is deeply
flawed.) Why don't you complain about the "gravy" in other industries?
Exxon's recent operating margins were 16%, with net margins of less
than 11%.
Apple's recent operating margins were 12%, with net margins of 10%.
And traditionally the oil industry is more risky than highly-branded
consumer electronics. So it deserves a higher return.
Per the above reasons, I doubt the comprehensiveness of your research.
Current oil industry margins are not that high.
Regardless, if you feel gouged, buy Valero, Oxy and Exxon. Donate your
excessive profits to environmental groups if you like.
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