Senators to push for $100 gas rebate checks

... if we buy their stock. The consumer doesn't get it back, the investors who put their capital at risk so the oil companies can explore, etc. are the ones that deserve the return on their investment.

If their increased profit is on crude itself, then that's just world demand driving prices.

If it's more on the refined products, then there MAY be something smelly. Even then with refinery and pipeline damaged not fully repaired (I don't think) since last years storms, it may be due to demand.

I'll agree on the face of it, incrasing profits and soaring gas prices appear to be taking advantage. But without studying a breakdown of where the extra profit is, I can't link it directly to gas prices themselves.

Roger

According to the Energy Information Administration, in 2005 about 8% of the cost of gasoline went toward Distribution and Marketing, 27% for the cost of Refining and Oil Company Profits, 15% accounted for State and Federal Taxes and about 50% of the cost of a gallon of gasoline was crude oil.

Not much and no link, but looks like crude oil amounts to 50% per gallon of gas.

George

Regular was around $2.00 a year ago. Right now it's $3.00. That's a 50% increase in price in a year. That's minor???

This is the US of A, not some other country. When we were below $2 a gallon some of those "Other countries" were still double our prices. Why should we pay 4 bucks a gallon just because they are. You got to fight these Oil Barons and the Gov. not sit back, saying, oh well, thats life.

George

Government is to the extent that it taxes the gas and the reason prices are higher in other countries is that the taxes are higher in those countries. But the same market forces that make prices go up here exist worldwide. They aren't going away no matter how hard you wish.

Reality is reality. We need more exploration, more drilling, more refineries, more alternative energy sources and LESS government.

etc., that will not solve the long term problem.

With the increasing demand world wide for oil and a finite supply, there will be a day that oil based economy will become too precarious to maintain itself.

Roger

to an oil based economy. Question is, how?

... the oil companies will go out of business or have developed businesses in the alternatives. Every time I hear about reserves running out, I hear about new finds, getting FAR more than ever predicted out of existing reserves, etc.

Evie

but I distinctly remember Jimmy Carter predicting we'd use up all the world's oil reserves by the end of (last) century.

My prediction? We'll be off oil with plenty to spare one day.

....current prices with a spike last year that lasted a couple of weeks?

And as George said, this isn't France. It's the US and the "Europe is worse" argument just doesn't float.

And I never, ever said I was for higher prices. I have no idea where you got that.

This isn't France, but the fundamentals are the same. My argument isn't "Europe is worse" it's "gasoline is a bargain but the price is going up EVERYWHERE". Sorry if you don't believe it but it's true.

You can choose an arbitrary date to compare with, but that date is NOT the "norm". Why not compare it with years ago adjusted for inflation, etc.? The price is actually lower now by comparison than it was in the 80s.

You have to look around and see what the rest of the world is doing.

that even with the high prices of gas in those other countries, they are STILL using internal combustion engines that run on gasoline. And they have not made dramatic headway into alternatives as you might expect.

... how much gas do you use anyway?

...is not the point. A 50% increase is a 50% increase and it impacts our entire economy. Are you ready for the inflation this will cause?

At what level? 1970s prices or 1980s? The price has steadily risen, though in relation to other prices, not as much.

Sorry, Josh, it's market economics.

... it's going to happen or not based on global market forces. If you are REALLY that concerned, you would support INCREASING OUR supply to lower the prices. As to the overall effect on the economy, this is overstated by those looking for something to complain about IMO. Yes, certain businesses -- like transportation, taxis, etc. -- will be harder hit. And yes, the airlines, because people are too used to low fares that have had many airlines operating a loss when fuel was lower. BUT, this whole notion that everything will inflate dramatically in price is ridiculous. It costs more to ship stuff, but the shipping is only a small part of the cost of most of that same stuff.

Which gets me back to my question, because in the end, for YOU, it IS about how much gas you use personally. It's why our economy has continued to grow despite the fact that gas prices had risen and fluctuated wildly over the past year. MOST Americans just don't use that much as a bottom line. When averaged out we're just not talking that big a hit to the wallet. And frankly, for those that it is, they are the ones that SHOULD be voluntarily driving the most economical vehicle they can.

Every American taxpayer would get a $100 rebate check to offset the pain of higher pump prices for gasoline, under an amendment Senate Republicans hope to bring to a vote Thursday.

You are saying this "sounds like" something the Dems would do so the Reps are jumping the gun on it?

So the Republican Senators got together and said I bet the Dems would suggest a rebate so let's beat them to the punch and offer a rebate!

That's farfetched even for me. It's a bad idea but I don't see how you can spin that to the Dems. Republicans have bad ideas too.

... but usually they are the result of trying to play the Democrats pander game. Be happy Rick, I'm criticizing Republicans!

...for realizing that when President Bush said that "Americans are addicted to oil," he really should have said "Government is addicted to oil." After all, government at all levels reap about twice what the "evil" oil companies get - and unlike governments, they then get to pay taxes on the proceeds.

As for ANWR: I support that project, as the three percent of the reserve that would be impacted is nowhere the lands that the enviros have been displaying in their cynical efforts. Has the ecological disaster that everyone predicted for the Alaskan pipeline occurred anywhere along its length? No.

This is a shallow attempt to buy votes. My only fear is that it will succeed...

I believe you are in one of the lowest taxed states. That's good. Many of the states are raking it in left and right. The Feds sure are.