US House cuts oil tax breaks!!!!!!!!!!!!!

[101Scout]

Congratulations House of Dems! This was a good one! Only thing is... just as the Oil Barrons of GOP America stated in this article, they will make consumers pay. No matter what, the Repukes will do this to us!



[Only registered and activated users can see links]


US House cuts oil tax breaks, closes loophole


dpa German Press Agency
Published: Thursday January 18, 2007


Washington- The US House of Representatives Thursday
approved a bill to repeal 7.7 billion in tax breaks for oil companies
in a measure that also closed a potential 10-billion-dollar offshore-
drilling-lease loophole.

The latest in a series of Democratic initiatives since taking the
majority in both houses of Congress, the House voted by 264 to 163 to
approve the measure.

Thirty-six Republicans backed the measure.

The bill would repeal a 2004 tax break approved by the Republican
Congress that allowed oil companies to claim tax deductions for oil
and gas production and refining.

The change could produce another 7.6 billion dollars in taxes over
10 years, according to the Congressional Budget Office, Bloomberg
financial news service reported earlier Thursday.

The American Petroleum Institute warned that the measure will
force higher prices for consumers.

[The_Bammo]

Congratulations House of Dems! This was a good one! Only thing is... just as the Oil Barrons of GOP America stated in this article, they will make consumers pay. No matter what, the Repukes will do this to us!



[Only registered and activated users can see links]


US House cuts oil tax breaks, closes loophole


dpa German Press Agency
Published: Thursday January 18, 2007


Washington- The US House of Representatives Thursday
approved a bill to repeal 7.7 billion in tax breaks for oil companies
in a measure that also closed a potential 10-billion-dollar offshore-
drilling-lease loophole.

The latest in a series of Democratic initiatives since taking the
majority in both houses of Congress, the House voted by 264 to 163 to
approve the measure.

Thirty-six Republicans backed the measure.

The bill would repeal a 2004 tax break approved by the Republican
Congress that allowed oil companies to claim tax deductions for oil
and gas production and refining.

The change could produce another 7.6 billion dollars in taxes over
10 years, according to the Congressional Budget Office, Bloomberg
financial news service reported earlier Thursday.

The American Petroleum Institute warned that the measure will
force higher prices for consumers.


You got that right Bro', the greedy SOB'S have the consumer (us) by the cahoonee's any way, shape or time they want! Pay now or pay later - one thing - we will pay! They run the game Bro'.

Check this one out Bro -

Claiming the Prize: War Escalation Aimed at Securing Iraqi Oil

I. The Twin Engines of Bush's War

As the paper notes, the law will give Exxon, BP, Shell and other carbon cronies of the White House unprecedented sweetheart deals, allowing them to pump gargantuan profits from Iraq's nominally state-owned oilfields for decades to come.
This law has been in the works since the very beginning of the invasion -- indeed, since months before the invasion, when the Bush Administration brought in Phillip Carroll, former CEO of both Shell and Fluor, the politically-wired oil servicing firm, to devise "contingency plans" for divvying up Iraq's oil after the attack.
Once the deed was done, Carroll was made head of the American "advisory committee" overseeing the oil industry of the conquered land, as Joshua Holland ([Only registered and activated users can see links]) of Alternet.org ([Only registered and activated users can see links]) has chronicled in two remarkable reports on the backroom maneuvering over Iraq's oil: Bush's Petro-Cartel Almost Has Iraq's Oil ([Only registered and activated users can see links]) and The U.S. Takeover of Iraqi Oil ([Only registered and activated users can see links]).

II. The Win-Win Scenario

Put simply, the Bush Family and their allies and cronies represent the confluence of three long-established power factions in the American elite: oil, arms and investments. These groups equate their own interests, their own wealth and privilege, with the interests of the nation -- indeed, the world -- as a whole. And they pursue these interests with every weapon at their command, including war, torture, deceit and corruption.
Democracy means nothing to them -- not even in their own country, as we saw in the 2000 election. Laws are just whips to keep the common herd in line; they don't apply to the elite, as Bush's own lawyers and minions have openly asserted in the memos, signing statements, court cases and presidential decrees asserting the "inherent power" of the "unitary executive" to override any law he pleases.
The Iraq war has been immensely profitable for these Bush-linked power factions (and their tributary industries, such as construction); billions of dollars in public money have already poured into their coffers. Halliburton has been catapulted from the edge of bankruptcy to the heights of no-bid, open-ended, guaranteed profit.

As for Wall Street -- both parties have long been the eager courtesans of the investment elite, dispatching armies all over the world to protect their financial interests. The power factions whose influence has been so magnified by Bush's war will maintain their supremacy regardless of the electoral outcome.
[By the way, to think that all of this has happened because a small band of extremist ideologues -- the neocons -- somehow "hijacked" U.S. foreign policy to push their radical dreams of "liberating" the Middle East by force and destroying Israel's enemies is absurd. The Bush power factions were already determined on an aggressive foreign policy; they used the neocons and their bag of tricks -- their inflated rhetoric, their conspiratorial zeal, their murky Middle East contacts, their ideology of brute force in the name of "higher" causes -- as tools (and PR cover) to help bring about a long-planned war that had nothing to do with democracy or security or any coherent ideology whatsoever beyond the remorseless pursuit of wealth and power, the blind urge to be top dog.]


Bush and his cohorts have won even if the surge fails and Iraq lapses into perpetual anarchy, or becomes an extremist religious state; they've won even if the whole region goes up in flames, and terrorism flares to unprecedented heights - because this will just mean more war-profiteering, more fear-profiteering.


And yes, they've won even though they've lost their Congressional majority and could well lose the presidency in 2008, because war and fear will continue to fill their coffers, buying them continuing influence and power as they bide their time through another interregnum of a Democratic "centrist" -- who will, at best, only nibble at the edges of the militarist state -- until they are back in the saddle again. The only way they can lose the Iraq War is if they are actually arrested and imprisoned for their war crimes. And we all know that's not going to happen.


So Bush's confident strut, his incessant upbeat pronouncements about the war, his complacent smirks, his callous indifference to the unspeakable horror he has unleashed in Iraq -- these are not the hallmarks of self-delusion, or willful ignorance, or a disassociation from reality. He and his accomplices know full well what the reality is -- and they like it.


[Only registered and activated users can see links]


Hang Tough ~

[blindsquirrel]

Lobbyists find new Congress is open for business
Lobbyists who dreaded Democratic control find they're being heard.

By Tom Hamburger and Janet Hook, Times Staff Writers
January 22, 2007



WASHINGTON — Incoming House Speaker Nancy Pelosi terrified the oil industry late last year when she outlined her priorities for the new Democratic majorities in Congress. Within the first 100 hours, she promised, they would "roll back the multibillion-dollar subsidies for Big Oil."

Last week, however, when Pelosi (D-San Francisco) won House approval of the much-touted bill socking it to the oil companies, it turned out to be considerably less drastic than many in the industry originally feared. Out of an estimated $32 billion in subsidies and tax breaks that the oil companies are scheduled to receive over the next five years, the final House bill cut $5.5 billion.
[Only registered and activated users can see links]

[101Scout]

The other thing that bothers me with this 'rollback' on tax breaks for the big oil bastards now is...... what now stops the oil bastards from raping us more at the gas pumps to make up for their few billion dollar profits that they would lose in this new bill? My point is, it seems that these bills that appears to help Americans out some, are not totally complete to further protect the average Joe consumer. These new bills are simply incomplete in my opinion. They look and feel nice after 6 years of being AMBUSHED!!! Buuuuuut..... they need the other half added with these bills to COMPLETELY protect our asses from these asshole Big Corps!

DUH!

[rememberearth]

Even if the oil companies want to charge higher prices, maybe that will force people to look at cleaner fuel/engine alternatives, that will be better for the planet.
They (both oil companies and consumers, myself included) should pay out the nose for petrol,if it means trying to invest in cleaner energy.

[101Scout]

Even if the oil companies want to charge higher prices, maybe that will force people to look at cleaner fuel/engine alternatives, that will be better for the planet.
They (both oil companies and consumers, myself included) should pay out the nose for petrol,if it means trying to invest in cleaner energy.

Respect your personal wishes but disagree with them also.

The long range goal is for an alternative fuel source but in all likelyhood, that will not take place 10-15-20 years from now .....plus the time it takes to put into place such changeovers for everyone's use.

In the meantime to give the Oil Barrons this green light that you just gave for them to raise oil prices is insane! Sure you or I may be able to afford $8-10 gal gas at the pumps, but what will you and millions do for all the other supplies needed in life including FOOD, that quadruples in their prices????!!!!!!

Trust me..... everyone's entire cost of living expense will increase that much if we allow these Oil Companies to continue this inflationary path for the next 20 years before any of us can afford ALL conversions needed for the new fuel sources!

If it cost the average person $2,500 a mth to live today, it will be $8-10,000 a mth to live because higher gas prices will drive everything further out of sight during these coming 15-20 years from now.

There has to be some control put on these blood thirsty Oil Barrons before they wipe us completely out!

[rememberearth]

Respect your personal wishes but disagree with them also.

The long range goal is for an alternative fuel source but in all likelyhood, that will not take place 10-15-20 years from now .....plus the time it takes to put into place such changeovers for everyone's use.

In the meantime to give the Oil Barrons this green light that you just gave for them to raise oil prices is insane! Sure you or I may be able to afford $8-10 gal gas at the pumps, but what will you and millions do for all the other supplies needed in life including FOOD, that quadruples in their prices????!!!!!!

Trust me..... everyone's entire cost of living expense will increase that much if we allow these Oil Companies to continue this inflationary path for the next 20 years before any of us can afford ALL conversions needed for the new fuel sources!

If it cost the average person $2,500 a mth to live today, it will be $8-10,000 a mth to live because higher gas prices will drive everything further out of sight during these coming 15-20 years from now.

There has to be some control put on these blood thirsty Oil Barrons before they wipe us completely out!
Pffft! I can't afford petrol now. LOL.
I am trying to save to get off the grid (solar/ windmill energy), and purchase a hybrid or a diesel that I can convert to veggie/biodiesel.
I can't afford anything, not even the causes I give to, but I do it. Sacrifice is a bitch, but I'm willing to do so for our planet. If enough people did so, we would cripple the energy industries, including big oil. Then not only would we all be able to breathe easier, rest better, be more financially independent, but also our planet would be preserved from the children we are borrowing it from.
Just my hunch.

[blindsquirrel]

Even if the oil companies want to charge higher prices, maybe that will force people to look at cleaner fuel/engine alternatives, that will be better for the planet.
They (both oil companies and consumers, myself included) should pay out the nose for petrol,if it means trying to invest in cleaner energy.

Earthgirl, if you, through the US government as your broker, invested in cleaner energy, would you expect any dividends or return on your investment
or would this be a charitable contribuition to energy corporations - because they are so straped for cash?

[GymGeekAus]

Just an aside, gas here in Austin is down to about $2.09 a gallon, the lowest I've seen it in quite a while.

Any speculation about why?

[martsmart]

Just an aside, gas here in Austin is down to about $2.09 a gallon, the lowest I've seen it in quite a while.

Any speculation about why?



Well, when people are pissed about one thing (high gas prices), they tend to think about other issues that might be related.

The less they think about their gas prices and other problems, if things are going OK....the less they think about little things like Iraq and the all the other criminal activity of this regime.

Thought this was obvious?

:)

Yeah, prices are down here as well too, and nationwide, from what I see and hear in MSM.

[rememberearth]

Earthgirl,
not sure I like your tone squirrely

if you, through the US government as your broker, invested in cleaner energy, would you expect any dividends or return on your investment
I wouldn't do it through the gov. It would be through my own investments.

or would this be a charitable contribuition to energy corporations - because they are so straped for cash?
Again, if you're implying something out with it.
Energy companies are obviously not strapped for cash. I think I made myself perfectly clear in a previous post;

Pffft! I can't afford petrol now. LOL.
I am trying to save to get off the grid (solar/ windmill energy), and purchase a hybrid or a diesel that I can convert to veggie/biodiesel.
I can't afford anything, not even the causes I give to, but I do it. Sacrifice is a bitch, but I'm willing to do so for our planet. If enough people did so, we would cripple the energy industries, including big oil. Then not only would we all be able to breathe easier, rest better, be more financially independent, but also our planet would be preserved from the children we are borrowing it from.

[101Scout]

Just an aside, gas here in Austin is down to about $2.09 a gallon, the lowest I've seen it in quite a while.

Any speculation about why?

Would be happy to GGA.

I read over a mth ago that oil prices would come down on the market. The reason for it was.... to starve Iran out. It's predicted that Iran will run itself out of oil within 10 years. I didn't believe it until I started to see the gas prices actually coming down on the oil market.They also knew that Iran exported oil that funds their military defense at which since last year Iran has hurried that (arms inventory) (with mostly with Russia) more since the Bush War Machine started to make it publically known that it was Iran's turn to be smoked in the near future. So, strategically, the BushCo flavored oil companies (world wide) all got together to drive their prices down on the market so to sell more for less causing Iran's oil to suffer on the market. The other choking method against Iran's oil revenue is our physical blockade in the Persian Gulf.

Then also, what better way to get the American Sheeple all warm and fuzzy with the lower gas prices at the pumps while Bush pushed his 'troops surge' that draws more funding? Plus, just a few mths away or more, BushCo needs for the Sheeple to feel all warm and fuzzy at the gas pumps while we invades Iran with those air strikes.

Oh yeah... it does feel good to see some 'decent' prices at the gas pumps! Enjoy it cause it won't last all that long in my opinion. I figure once we blow the crap out of Iran's infrastructure, weapon depots, power plants and mostly civilian housing/buildings, etc etc, the Texas Oil Barrons will have to jack the prices right back up to gouge us more to pay for the $$$$$$billions that will be wasted in the Iran debacle.

Oh but the Sheeple will understand... it's for their freedom and safety.... and spreading democracy to free the world of the 'bad guys'. :sarcasm:

You know the drill GGA. :bonk:

[GymGeekAus]

Yeah, I know the drill. Heh heh, sorry bad pun.

Thanks for contributing to the dialogue on it. Those are definitely two elements to it--public opinion as presented by Marts, and fiscal warfare against Iran (and Venezuela?). I'm sure there are even more factors at play. For example, it encourages consumption. And discourages diversification. Since Bush's SOTU speech placed responsibility on us as individual consumers to reduce consumption rather than taking that strategy to the carmakers, it reduces our individual will to demand alternative fuels and improved fuel standards. Heck, it even speeds the global climate crisis, so it's a plus to the armageddonists. The only GOP downside I can see is that it should increase resistance to ANWAR drilling.

I mainly wanted to point out to everyone that it was going on.

[martsmart]

Yeah, I know the drill. Heh heh, sorry bad pun.

Thanks for contributing to the dialogue on it. Those are definitely two elements to it--public opinion as presented by Marts, and fiscal warfare against Iran (and Venezuela?). I'm sure there are even more factors at play. For example, it encourages consumption. And discourages diversification. Since Bush's SOTU speech placed responsibility on us as individual consumers to reduce consumption rather than taking that strategy to the carmakers, it reduces our individual will to demand alternative fuels and improved fuel standards. Heck, it even speeds the global climate crisis, so it's a plus to the armageddonists. The only GOP downside I can see is that it should increase resistance to ANWAR drilling.

I mainly wanted to point out to everyone that it was going on.

We agree completely here.

:)

[blindsquirrel]

not sure I like your tone squirrely

I wouldn't do it through the gov. It would be through my own investments.

Again, if you're implying something out with it.
Energy companies are obviously not strapped for cash. I think I made myself perfectly clear in a previous post;

I was being facetious. And my tone... yes I wouldn't like it either if someone implied that I (the American people) was a chump. I am suggesting that of course you would expect a return on you investment yet politicians and corporations do not feel the same way. How much government money (your tax dollars) has been given to corporations for R&D and the taxpayer receives nothing in return except the chance to BUY a new product that they have paid to create or find? This would include drugs in your medicine cabinet or the color TV in your parlor - items you and I have paid to develop yet we receive no quarterly dividend for our investment. This would be corporate welfare. Nancy Pelosi has just given Oil companies 26.5 billion dollars of taxpayer money - why?

"We the People" should see a return on our investment.