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Economics Discuss Economics here.

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  #71 (permalink)  
Old 05-15-2008, 10:24 AM
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Originally Posted by Finny View Post
Sure you can do that in my backyard. I'll charge a pretty damn steep fee as well.

You're a good sport too, Finny... How will your neighbors feel about it, though?
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  #72 (permalink)  
Old 05-15-2008, 10:26 AM
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Originally Posted by AmericanDreamer View Post
The price of gas is getting so high that many will not be able to afford a backyard.



The price of gas is getting so high that many people can't afford a yard or basement.
For once, we agree...

For twice, we agree...

Is this gonna become a habit? I think not.
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  #73 (permalink)  
Old 05-15-2008, 10:31 AM
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Originally Posted by wannabehippie View Post
Actually you are wrong.

In the last 30 years not one oil company has even attempted to apply for a permit to build a new refinery. In fact they have closed refineries.


At the same time existing refineries have been expanded to a degree.

Additionally with all the mergers in recent years there is very little competition left in the oil industry and there is no push within the industry to build new refineries because it would end up hurting their profits as the refining capacity went up and potentially cause a glut of refined oil products.

You want to know why no new refineries have been built? Look no further than the $40 billion profit by ExxonMobile. They make more money by keeping refiniery capacity tight.


Oh btw refineries are not even working at full capacity right now. They are running at about 85%.

Oil Refiners: Cheap for a Reason - washingtonpost.com

NY Times Advertisement
Thanks, wannabehippie, for the interesting information... which contradicts the oil industry apologists... no new refineries proposed, therefore no new refineries built... why then do you think bush has been trying to blame congress?

oh yeah... bush econ 101... when something goes wrong, blame the democrats.
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Old 05-15-2008, 10:51 AM
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The CEO's and executive teams have obviously consulted with accountants about what would happen with their personal profits if more refineries were built as opposed to using refineries as a market manipulation factor to keep prices artificially high.

I keep looking at all of the options including a windfall profits tax to be spent on building new refineries to force the oil companies to move in that direction. My guess, being the money grubbing sociopaths that they are, is that the windfall profits tax would be passed on to consumers.

So my alternative is to specifically target every last single CEO and executive for a full tax statement orofice search by the IRS (sound of a latex glove snapping on). Maybe they could go to extra efforts to investigate offshore banking. My guess is that they all use offshore accounts. I would even go so far as to engage the same surveillance Bush wants on us peasants be used on them to discover offshore accounts.

As the old proverb says, don't get mad - get even.
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Old 05-15-2008, 12:38 PM
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Michael, that works for me!

While I've heard the arguments that taxing the rich just "punishes success, and removes the incentive to do well", I have a hard time thinking that's actually true in the real world. If I gave you a raise that pushes you into the next highest tax bracket, you'd say no?

I'm not big on the whole re-distribution of wealth bit, but I do favor more progressive tax systems. And, I do think we need to be far more aggressive in ferreting out all the various dodges that rich CEOs get to use.

The way I figure it, if we actually taxed corporations for what they REALLY OWED, the personal income tax might even be eliminated.

Oh, and it would be nice if we didn't keep letting these slimy weasels to skip out of the country. I consider outsourcing to be vaguely treasonous.
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Old 05-15-2008, 12:58 PM
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"Oh, and it would be nice if we didn't keep letting these slimy weasels to skip out of the country. I consider outsourcing to be vaguely treasonous."

I keep hearing about Trickle Down economics again. My first thought is the only trickle down I hear is the super rich p*ssing on the middle class to whom they have shifted most of the tax burden. My second thought is that what I am seeing is Trickle Out economics. They are outsourcing jobs while using offshore banking to not pay taxes. That money inputs into other national economies. Therefore they are not supporting the American infrastructure that has facilitated their wealth. In short, it is a form of economic treason.
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Old 05-15-2008, 01:43 PM
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So true. And we give them tax breaks to pi** longer and harder on us. Only in America!

very good read, thanks guys.
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Old 05-15-2008, 07:55 PM
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Quote:
Originally Posted by TheStripey1 View Post
Can we start in your back yard?

I'm for it and I'm quite sure that everyone else here would be in favor of putting a brand new oil refinery in your backyard, too.

So how about it?

Its not zoned for that, sorry. How about in all those dormant industrial areas where the stuff is produced? "Brownfields".
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Old 05-15-2008, 07:56 PM
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Originally Posted by TheStripey1 View Post
Can we stash the nuclear waste in your side yards and basement, since your back yard has that new refinery?

Thanks... you're a great sport.
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Old 05-15-2008, 08:00 PM
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Quote:
Originally Posted by wannabehippie View Post
....there is no push within the industry to build new refineries because it would end up hurting their profits as the refining capacity went up and potentially cause a glut of refined oil products.....
That's your theory anyway. Along with the non-partisan washington post.
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