OIL POLL

shermangeneral wrote:The BIG republicans are heavily invested in keeping oil prices high not low.

Yes, many big dems are also.

Aaron wrote:

shermangeneral wrote:The BIG republicans are heavily invested in keeping oil prices high not low.

Yes, many big dems are also.

Why? It is their feed stock that has increased 600% over the past 7 years while the profit percentage is pretty much the same as it was in 2001.

ziggy wrote:

Aaron wrote:

shermangeneral wrote:The BIG republicans are heavily invested in keeping oil prices high not low.

Yes, many big dems are also.

Why? It is their feed stock that has increased 600% over the past 7 years while the profit percentage is pretty much the same as it was in 2001.

And 5 percent of 600 billion dollars is 6 times more than 5 percent of 100 billion dollars. So what's your point? If profit on "feed stock" is the measuring stick, then investment incentive in keeping oil prices higher instead of lower is obvious.

Since we’re asking questions, would you have oil companies under invested so that they can't look for new and altertanitive sources for energy to actually fix our energy crisis, or do you think the answers are going to be solved with ‘windfall taxes‘?

Gas prices lower tax revenue
Tax collections overall are higher
High gasoline prices are beginning to affect state gas tax collections, Revenue Secretary Virgil Helton told legislators Monday.
By Phil Kabler
Staff writer
High gasoline prices are beginning to affect state gas tax collections, Revenue Secretary Virgil Helton told legislators Monday.

In April, the state tax - 32.2 cents per gallon - brought in $30.5 million. That was $2.35 million, or 7 percent, less than projected for the month, Helton told the Council of Finance and Administration.

Collections also were down $1.3 million, or 4 percent, compared to April 2007, when the gas tax brought in $31.87 million.

"The price of gasoline in the last two or three months has caused consumers to change their driving habits to the extent they can," Helton said. "You're seeing less gas consumed."

He said gas prices also are affecting toll collections on the West Virginia Turnpike. Collections have been down about 5 percent in March and April, compared to the same months in 2007, he said.

As Senate Finance Chairman Walt Helmick noted, if the trend persists, it would be a major blow to a state Road Fund that already struggles to keep pace with demands for road-building projects

Gas tax collections - projected at $380 million for the 2008-09 budget year, which begins July 1 - account for 60 percent of the state's share of the state Road Fund.

Transportation Secretary Paul Mattox said recently that the state's priority list for new highway construction projects would cost more than $25 billion - meaning that most of the projects on the list will never be built.

Helmick, D-Pocahontas, said the Legislature needs to focus now on alternative ways to finance highway construction in the state.

High gasoline prices are beginning to affect state gas tax collections, Revenue Secretary Virgil Helton told legislators Monday.

In April, the state tax - 32.2 cents per gallon - brought in $30.5 million. That was $2.35 million, or 7 percent, less than projected for the month, Helton told the Council of Finance and Administration.

Collections also were down $1.3 million, or 4 percent, compared to April 2007, when the gas tax brought in $31.87 million.

"The price of gasoline in the last two or three months has caused consumers to change their driving habits to the extent they can," Helton said. "You're seeing less gas consumed."

He said gas prices also are affecting toll collections on the West Virginia Turnpike. Collections have been down about 5 percent in March and April, compared to the same months in 2007, he said.

As Senate Finance Chairman Walt Helmick noted, if the trend persists, it would be a major blow to a state Road Fund that already struggles to keep pace with demands for road-building projects

Gas tax collections - projected at $380 million for the 2008-09 budget year, which begins July 1 - account for 60 percent of the state's share of the state Road Fund.

Transportation Secretary Paul Mattox said recently that the state's priority list for new highway construction projects would cost more than $25 billion - meaning that most of the projects on the list will never be built.

Helmick, D-Pocahontas, said the Legislature needs to focus now on alternative ways to finance highway construction in the state.

"We can't wait until next year to say, 'Where are we going to come up with another $40 million to $50 million for our road-building costs?' " he told the council.

He also noted that, because state Road Fund dollars are used to match federal highway funds, the true impact of a downturn in gas tax collections could be in the $80 million to $100 million range in the 2008-09 budget year.

source

shermangeneral wrote:Please check my earlier post on that subject Aaron. and you will see that I included Democrats.

You guys keep branding me as blindly partisan and I repeatedly have pointed out the shortcomings of Democrats.

So why do you do that?

I know you know better.

You are not dumb.

(but I would rather be dumb than devious.)

Aaron wrote:The money goes to those who actually own the oil sherm.

And the incentatives for altertantive sources is simple Sherm.

Money as in profits.

Which ever company corners the market on a proven, reliable energy source corners the market and makes the most money. What better incentative is there?