2006/07/28

Should obscene oil company profits be more heavily taxed?

Exxon Mobil reported a 36 percent gain in second-quarter earnings yesterday, bolstered by robust oil and gas prices. When you drive up to the pump to fill up your car's gas tank, do you stop to ponder whether you are being gouged by corporate greed? Oil company profits indicate that indeed is the case. If there is no rational way to better regulate prices to avoid such ripoffs, should governments not be intervening through taxation of these obscene profits to return some of the excess to taxpayers?

4 comments:

Down Easter said...

What the oil companies are doing stinks to high heaven!the excess profits should be channeled to highways and other transportation infrastructure.

Jasmine said...

The situation reeks of corporate greed. Why companies like exxon are allowed to get away with this gigantic ripoff is beyond comprehension.

Anonymous said...

Just hang on a little longer... Ambrose has a Made in Canada plan to be unveiled in October which will make mincemeat out of those oil mouses... so said fat cat Harper, and I believe in HIM!

true dough said...

Here is a point of view I wish I heard more often:

"I'm here to stand up today in front of all of you and admit it...I am the problem. I am why gas prices are too high. And if I cared more, I would probably change my habits. But I won't. I know I won't beacuse I've had the chance and chosen not too. I live a life of convenience, and I'm willing to suffer higher gas prices for that convenience. It's going to take a lot more than $3.00 a gallon for me to change.

And I have a feeling I'm not alone."

That comes from Tim Haab. It saddens me that those who have a choice to ride a bike/take the bus etc don't change their habits. But I applaud Mr. Haab for accepting the underlying fact: the vast majority of us are gas whores.
The rest of his rant is here:
http://www.env-econ.net/2006/07/whose_fault_are.html#more