Should Congress and the President pass legislation that would give the profits of oil drilled in our country?

Question

and on our shores to the American People? At least some of it?

Answer 1

I think that might be unconstitutional.

How about the congress and the president pass a law that gives your paycheck (I'm sure you're not old enough to have one but..) to me.

Answer 2

The total oil reserves in our country is 2% .... think about that.  Most of the oil we drill here, we send overseas anyway.

And the profits go to the oil corporations as it always have.  In fact, in the last 2years they have not only gotten record profits, but they've expanded their profit margin -- so they are marking more per gallon of oil than they did before the "oil crisis".  They are corrupt and so is our government.

But, no, what you ask is not a solution.

Answer 3

They already do, via corporate income taxes.

Answer 4

Geesh, if you took away their profits, guess they will stop drilling in america.

Also as the person stated above, they do give profits to the American people.  

Called corporate income taxes

Called Research & Development

Wages

Wage taxes

unemployment

income taxes

super funds

and countless other ways.

Answer 5

O K if i take your money and camp out on your front lawn? Just for a little while

Answer 6

They already do,look at your 401k plan,youll find some oil stocks in it,most of them do.

Answer 7

Why would anyone drill then?

Answer 8

Directly, No. Whenever government meddles in the free market they ALWAYS make matters worse.

If they divert profit then the oil companies have less incentive to produce. They will just move out of the country, like so many other business that find it too expensive with labor and taxes to operate in the US.

Plus, if producing more product in the US results in lower fuel prices they are saving the people money.

And no, most oil produced in the US is not exported.