If American oil companies only make 8 cents on the dollar. Is my business going to get windfall taxed too?!?

Question

And how much is too much. h**l the government contracts guarantee 6-7 cents on the dollar.

Exxons huge profits stems from their size and volume of buisiness.

If they broke up into twenty smaller companies, their numbers would be acceptable and they would avoid a windfall tax based on the overall dollar amount of profit. But each mini exxon, making 8 cents on the dollar, would not change fuel costs a bit.

Oh, and to all you calling for a boycott of Exxon and going to some other fuel station. Kind of dumb to leave an American company to pay a foreign one.

Answer 1

Firstly, Exxon is a multi-national oil company with many facits to its operations. They are onvolved in oil discovery, oil drilling, shipping, refineing , distribution and sales all over the World.

The .08 cents a a gallon profit is a number they made up from the allocation of costs thru thier operations. There would also be a profit for thier other divisions thru each part of the process of oil production. The number may or may not be an accurate reflection of the allocation of costs. Just remember that figures can lie and liars can figure.

To let the big oil companies know that there is consumer angst over the price of gas is okay.

Answer 2

Not unless you are hated by whole lot of Saudis, unions, environmentalists, etc. and your opponents are prepared to fund PACs to keep attention off of them.

Answer 3

Careful now, you're going to confuse all the liberals and secular progressives with that clear line of thinking.

If were going to base windfall taxes on the amount of profit a company makes, then Coca-Cola will be number one on the list.

Answer 4

It would be a good possibility! They would have us be socialist. Arnold came from a socialist country, I guess he forgot all about that. For some reason he thinks the elitist in California represent the common residents of California. Its about time they showed there clout.