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Exxon Mobil posts record U.S. $9.9B profit, is it time for government intervention?

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Exxon Mobil posts record U.S. $9.9B profit, is it time for government intervention?

Old 06-12-08, 08:40 AM
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Originally Posted by achau9598
So I say again - ask the gas companies to put a cap on the price of gas at the pump (let's say $3) and in return the government gives them a tax break. The government still makes money on gas taxes (and would likely make more as people would drive more), the companies still make their money at the pump (and likely more as people would drive more) and then again as a result of the tax break, and everyone is happy, right?
The problem with this plan is that it does absolutely nothing but mask the true cost of gas even more than it is currently masked.
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Old 06-12-08, 09:03 AM
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Originally Posted by achau9598
So I say again - ask the gas companies to put a cap on the price of gas at the pump (let's say $3) and in return the government gives them a tax break. The government still makes money on gas taxes (and would likely make more as people would drive more), the companies still make their money at the pump (and likely more as people would drive more) and then again as a result of the tax break, and everyone is happy, right?
Yes, because price controls have worked so well in the past.
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Old 06-12-08, 09:08 AM
  #778  
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For years we've had people (mostly on the left, but not entirely) complaining about our oil consumption. Now that prices are high, and consumption may actually be reduced we're searching for ways to increase our consumption - consequences be damned.

I read the other day that in the past 25 years, Oil companies have paid 3x as much taxes as they've taken in as profit - more than 2 trillion dollars. Does anyone know if that's accurate? It would seem to take a bit out of the 'excessive profit' argument.
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Old 06-12-08, 09:53 AM
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Originally Posted by Tracer Bullet
Yes, because price controls have worked so well in the past.
I believe one can make a strong argument that price controls worked very well in WWII.

They didn't work during the Nixon era for a simple reason - they weren't enforced.

Wage controls, on the other hand, worked reasonably well - they were enforced. The employers saw to that.
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Old 06-12-08, 11:49 AM
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We just have to get used to paying more for gas, food, and pretty much everything else because the liberals won't support their country and let us drill in Alaska.
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Old 06-12-08, 02:12 PM
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Looks like a good time to close the thread at 800 posts...and XOM falling another percent
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