jdanton

As I heard Obama on this subject:

First, he criticizes both Hillary and McCain for their plans as not being more than a band aid.

The he gives no plan of his own, other than first changing the way Washington does business.

Personally, I don't think the government CAN do anything about gas prices, unless an investigation shows some kind of illegal conspiracy.

I think that's true whether or not Washington changes the way it does business.

Washington CAN demand higher mpg, but I suspect the consumers will be doing that themselves.

Further, I don't think, and no ones explained how, he can change the way Washington does business, because most of that business is done by Congress, and the president has no control of how congress conducts its business.

How many people here really believe the government, sans finding some illegal activities in the industry, can bring gas prices down, any more than they can bring pay per view boxing prices down, or bring down the price of a ticket to a ball game?

No matter how Washington does business, are they able to tell private companies how much they can charge for their product?

I agree with him that eliminating the gas tax for a few months won't help in the long run, but it might help in the short run, insofar as people who have plans in place for driving vacations.

LONG term, the 'honest" answer, I think, is to tell the public they will have to make some sacrifices, which seems to be the 4th rail of politics.

Drive less, buy a more fuel efficient car, etc. Gas prices won't come down until the American people, en mass, change their habits.

If we had seriously changed our habits at $3 a gallon, I don't think it would now be $4. If we don't change our habits, it will soon be $5.

As long as we keep paying and driving, there is no reason for them not to raise the price.


All that the market will bear.

__________________
Author: Memoirs of a Sleepless Mind, a book you CAN judge by its cover.

Curator

Because Washington is controlled by the corporate oil and auto lobbyist as well as a 100 others. If you limit the lobbyist influence you limit the legislation they favor to protect their profits. You remove this protectionism and then true innovation can happen in alternative fuels and other fuel efficient measures. All resulting in lower gas prices.

__________________
"Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies."
- Groucho Marx

“You can actually see Russia from land here in Alaska.”
Gov Palin explaining her national security credentials.

"I am not opposed to all wars. I'm opposed to dumb wars."
-Barack Obama, October 2002

PursuitOfHappinessParty

Not to mention the removal of the need for and the limit on the acceptance of campaign contributions. As long as you need to spend $100+ million to be elected, you're going to be beholden to a party and corporate $.

Love your Avatar, tho I suggest the elephant and donkey holding hands while anal raping a stick-figure (citizen)! Don't forget the corporate (c).

__________________
For all those brainiacs that got themselves an ARM, I suggest an APT.!

slowhand

Whether or not Obama has a plan, at least he called it what it was, a bandaid whos motive is to get votes..He said that having gas tax holidays isnt going to do a thing to change the price or to address the problem..The problem is still gonna be there, and that is the truth..Under Hillary's and McCain "plan" we are going to save what?..$28.00?..Just like the Bush tax rebates..Most folks are gonna get $600..Im disabled and dont make enough, so Im only gonna get $300..Big deal!..You want, to help me out?..Send me 5 grand, and stick the $300 and the $28 where the sun dont shine

HarperLee

Obama does have a plan, posted here last night by the Administrator.
You refused to acknowledge or intelligently discuss such a plan
because it is so much easier for you to ask for the 9,248th time
how Obama can change the way Washington does business.

From Bloomberg.com

Obama May Levy $15 Billion Tax on Oil Company Profit (Update1)

By Daniel Whitten

May 1 (Bloomberg) -- Democratic presidential candidate Barack Obama's proposal for a windfall profits tax on oil companies could cost $15 billion a year at last year's profit levels, a campaign adviser said.

The plan would target profit from the biggest oil companies by taxing each barrel of oil costing more than $80, according to a fact sheet on the proposal. The tax would help pay for a $1,000 tax cut for working families, an expansion of the earned- income tax credit and assistance for people who can't afford their energy bills.

``The profits right now are so remarkable that one could trim them 10 percent or so, which would turn out to be somewhere in the $15 billion range,'' said Jason Grumet, an adviser to the Obama campaign.

Obama's plan may be three times larger than the $50 billion, 10-year plan contemplated by his Democratic rival, New York Senator Hillary Clinton. Republican candidate John McCain, an Arizona senator, has no plan to raise oil and gas industry taxes, said his economic adviser, Douglas Holtz-Eakin.

Oil companies would still have ample reason to ``continue to pursue production, while at the same time providing relief to consumers,'' Grumet said.

A flurry of energy proposals from presidential candidates and lawmakers has come after crude oil futures prices reached $119.93 a barrel on April 28. Retail gasoline prices hit a record $3.603 a gallon this week, according to the U.S. Energy Department.

Obama's Proposal

Among the options Illinois Senator Obama is mulling is imposing a 20 percent tax on the cost of a barrel of oil above $80, said Grumet, who spoke at a conference in Washington today.

``The industry has profited greatly -- over $150 billion in 2007 -- due to global instability fueled by conflict in Iraq, failing domestic fiscal policies that have weakened the U.S. dollar and skyrocketing global demand resulting from a lack of investment in alternatives,'' said the Obama fact sheet.

Energy companies argue that new taxes will discourage production at a time when supply is needed most.

Clinton would impose a $20 billion windfall profits tax on oil companies over the next decade and repeal $30 billion in tax breaks over 10 years to pay into a so-called strategic energy fund, said Brian Deese, Clinton's economic policy director.

Gas-Tax Holiday

Clinton has proposed a gas-tax holiday for the summer paid for by about $9 billion in windfall profits taxes on oil companies. She would repeal an 18.4 cent per-gallon tax on gasoline and a 24.4 cent per-gallon tax on diesel fuel. Obama opposes the idea, saying it will provide minimal relief to consumers.

Oil companies got about $12 billion in tax breaks last year, Grumet said, and the windfall tax would aim to roll back all of those subsidies.

The top five oil companies, San Ramon, California-based Chevron Corp.; Houston-based ConocoPhillips; Irving, Texas-based Exxon Mobil Corp.; BP Plc in London; and the Hague-based Royal Dutch Shell Plc. reported $123 billion in profits for last year.

Exxon Mobil said first-quarter net income rose to $10.9 billion, or $2.03 a share, from $9.28 billion, or $1.62, a year earlier. The profits report fell short of analyst estimates as production dropped and profit margins from refining narrowed.

__________________
Oliver Stone on George W. Bush: "the banality of evil"

Heavy_monkey2.0

there should be no subsidies for oil companies...NOT a 'Rolling back of' but a clear abscence of them....obama (my candidate) imo doesnt go far enough in revealing how he is going to attempt to change the way business is done, of course he is still trying to get there first...


I heard obama claim that the gasoline 'holiday' tax cut, a tax which is used to fund maintenence on highways could result in the loss of funding to pay highway/construction workers. dont know if this is an issue or not but thought i would repeat it here.

mudwhistle

You are exactly right. Democrats want to regulate everything. The free market will work this out on its own.

PursuitOfHappinessParty

I've seen absolutely nothing to make me agree.

Exxon mobil earned $10.9 billion during the first quarter, up 17% from a year ago. That would be a profit to sales of around 10%.

$93 Average price of a barrel of oil sold by Exxon in the first quarter.
$55 Average price for the same period a year ago.

These aren't sneakers we're talking about, it's the lifeblood of our modern society.

__________________
For all those brainiacs that got themselves an ARM, I suggest an APT.!

Malkavian

So... What's wrong with profit to sales of around 10%? If you wish to complain about the cost of oil per barrel, complain to the US Fed who prints money non stop recently... And also Chinese and Indian Joe Sixpacks who want a better life for themselves...

__________________
Woof!

PursuitOfHappinessParty

As a continuing percentage. Remember that's against a year ago, and I don't remember gas prices being hunky-dorey a year ago. That a 17% profit comparative increase to that very same model in-use a year ago. Looking at continuing quarterly profits since Iraq II started and I see a pattern of gouging and abuse.

Blaming China, India, or the Federal Reserve is fun fodder, and while I have major problems across the board with each - doesn't enter into the fact that for the purposes of this thread it's bag on Exxon-time.

Like I tell my 8 year old, I don't care what those kids are doing, what are YOU up to?!?

__________________
For all those brainiacs that got themselves an ARM, I suggest an APT.!