Platinum Contributing Member Jimmy Snacks Posted March 9, 2022 Platinum Contributing Member Share Posted March 9, 2022 (edited) 5 hours ago, DriftBusta said: You do realize that the government should all along be encouraging domestic production and benefitting from the tax revenues it provides....yet when Biden came in he did the opposite...? We are producing as much or more today as we were under Trump but I digress...some here think the government owns the oil and reaps all the profit. BTW lets not forget this little gem...so much for all that tax revenue. TRUMP'S TAX PLAN PROVIDED MASSIVE TAX BREAKS TO THE OIL INDUSTRY LEAH DUNLEVY MAY 1, 2019 The Tax Cuts and Jobs Act passed by President Donald Trump and congressional Republicans in 2017 has disproportionately benefited corporate America—especially the oil industry.* According to a study published this month by the Institute on Taxation and Economic Policy (a non-profit, non-partisan think tank), many large oil companies paid no taxes last year. The plan lowered corporate taxes from 35 percent to 21 percent, altered international tax rules, and created a deduction for non-corporate business income in addition to other reforms. Many of these companies garnered such benefits using a policy of accelerated depreciation, which allows companies to write off capital investment costs significantly faster than the expiration of these investments, allowing them to drastically reduce their tax rates. According to the report, Chevron reported $290 million of depreciation-related tax breaks in 2018, and Halliburton reduced its taxes by $320 million. Edited March 9, 2022 by Jimmy Snacks Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted March 9, 2022 Platinum Contributing Member Share Posted March 9, 2022 2 hours ago, spin_dry said: Had my hopes of pre-ordering a Lada.... but guess that's not happening. https://www.yahoo.com/news/iconic-russian-car-maker-reportedly-184858699.html 1 hour ago, Jimmy Snacks said: We are producing as much or more today as we were under Trump but I digress...some here think the government owns the oil and reaps all the profit. BTW lets not forget this little gem...so much for all that tax revenue. TRUMP'S TAX PLAN PROVIDED MASSIVE TAX BREAKS TO THE OIL INDUSTRY LEAH DUNLEVY MAY 1, 2019 The Tax Cuts and Jobs Act passed by President Donald Trump and congressional Republicans in 2017 has disproportionately benefited corporate America—especially the oil industry.* According to a study published this month by the Institute on Taxation and Economic Policy (a non-profit, non-partisan think tank), many large oil companies paid no taxes last year. The plan lowered corporate taxes from 35 percent to 21 percent, altered international tax rules, and created a deduction for non-corporate business income in addition to other reforms. Many of these companies garnered such benefits using a policy of accelerated depreciation, which allows companies to write off capital investment costs significantly faster than the expiration of these investments, allowing them to drastically reduce their tax rates. According to the report, Chevron reported $290 million of depreciation-related tax breaks in 2018, and Halliburton reduced its taxes by $320 million. Not according to IEA. We could use some tax breaks for the oil industry now.... maybe that would make it worthwhile for them to pump some oil under the ruthless Biden agenda Quote Link to comment Share on other sites More sharing options...
Anler Posted March 9, 2022 Share Posted March 9, 2022 9 minutes ago, ViperGTS/Z1 said: Had my hopes of pre-ordering a Lada.... but guess that's not happening. https://www.yahoo.com/news/iconic-russian-car-maker-reportedly-184858699.html Not according to IEA. We could use some tax breaks for the oil industry now.... maybe that would make it worthwhile for them to pump some oil under the ruthless Biden agenda Oil companies are going to make record profits this year and you want to give them tax breaks? 1 Quote Link to comment Share on other sites More sharing options...
Badger** Posted March 9, 2022 Share Posted March 9, 2022 Paying my way. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted March 9, 2022 Platinum Contributing Member Share Posted March 9, 2022 9 minutes ago, Anler said: Oil companies are going to make record profits this year and you want to give them tax breaks? Yup....this is a good read but u have to be a member. The new costs and regulations are just astronomical. Not so sure there will be record profits but with oil this high there may be. https://www-wsj-com.cdn.ampproject.org/v/s/www.wsj.com/amp/articles/biden-and-the-oil-industry-are-at-odds-clouding-effort-to-tame-gasoline-prices-11646838614?amp_js_v=a6&_gsa=1&usqp=mq331AQKKAFQArABIIACAw%3D%3D#aoh=16468566749797&referrer=https%3A%2F%2Fwww.google.com&_tf=From %1%24s&share=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fbiden-and-the-oil-industry-are-at-odds-clouding-effort-to-tame-gasoline-prices-11646838614 Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 9, 2022 Author Share Posted March 9, 2022 20 minutes ago, Anler said: Oil companies are going to make record profits this year and you want to give them tax breaks? The oil companies will complain about how tough they have it. We’ve been down this road before with them. “But this time it’s different” it’s all bullshit. Quote Link to comment Share on other sites More sharing options...
Anler Posted March 9, 2022 Share Posted March 9, 2022 8 minutes ago, ViperGTS/Z1 said: Yup....this is a good read but u have to be a member. The new costs and regulations are just astronomical. Not so sure there will be record profits but with oil this high there may be. https://www-wsj-com.cdn.ampproject.org/v/s/www.wsj.com/amp/articles/biden-and-the-oil-industry-are-at-odds-clouding-effort-to-tame-gasoline-prices-11646838614?amp_js_v=a6&_gsa=1&usqp=mq331AQKKAFQArABIIACAw%3D%3D#aoh=16468566749797&referrer=https%3A%2F%2Fwww.google.com&_tf=From %1%24s&share=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fbiden-and-the-oil-industry-are-at-odds-clouding-effort-to-tame-gasoline-prices-11646838614 I have some bad news for you. Most regulations are lobbied for my the industries themselves. 1. keeps prices higher and 2. Prevents competition from start up companies without deep pockets. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 9, 2022 Author Share Posted March 9, 2022 1 hour ago, Jimmy Snacks said: We are producing as much or more today as we were under Trump but I digress...some here think the government owns the oil and reaps all the profit. BTW lets not forget this little gem...so much for all that tax revenue. TRUMP'S TAX PLAN PROVIDED MASSIVE TAX BREAKS TO THE OIL INDUSTRY LEAH DUNLEVY MAY 1, 2019 The Tax Cuts and Jobs Act passed by President Donald Trump and congressional Republicans in 2017 has disproportionately benefited corporate America—especially the oil industry.* According to a study published this month by the Institute on Taxation and Economic Policy (a non-profit, non-partisan think tank), many large oil companies paid no taxes last year. The plan lowered corporate taxes from 35 percent to 21 percent, altered international tax rules, and created a deduction for non-corporate business income in addition to other reforms. Many of these companies garnered such benefits using a policy of accelerated depreciation, which allows companies to write off capital investment costs significantly faster than the expiration of these investments, allowing them to drastically reduce their tax rates. According to the report, Chevron reported $290 million of depreciation-related tax breaks in 2018, and Halliburton reduced its taxes by $320 million. That’s why 85% of campaign money went to trump. He allowed the oil companies to own us. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted March 9, 2022 Platinum Contributing Member Share Posted March 9, 2022 1 minute ago, spin_dry said: That’s why 85% of campaign money went to trump. He allowed the oil companies to own us. Yep…strange that some of the self proclaimed economics experts around here seem to think we were raking in tax revenue and paying down the debt with oil taxes 2016-2020.🧐 Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 9, 2022 Author Share Posted March 9, 2022 Just now, Jimmy Snacks said: Yep…strange that some of the self proclaimed economics experts around here seem to think we were raking in tax revenue and paying down the debt with oil taxes 2016-2020.🧐 The oil companies own the republicans. It’s obvious. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Rigid1 Posted March 9, 2022 Platinum Contributing Member Share Posted March 9, 2022 3 hours ago, spin_dry said: Dismal reliability. Bad as it gets. No thank you. Should be perfect for you then, based on past purchases Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted March 9, 2022 Share Posted March 9, 2022 1 hour ago, spin_dry said: That’s why 85% of campaign money went to trump. He allowed the oil companies to own us. 1 hour ago, Jimmy Snacks said: Yep…strange that some of the self proclaimed economics experts around here seem to think we were raking in tax revenue and paying down the debt with oil taxes 2016-2020.🧐 Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted March 10, 2022 Share Posted March 10, 2022 4 hours ago, Anler said: I have some bad news for you. Most regulations are lobbied for my the industries themselves. 1. keeps prices higher and 2. Prevents competition from start up companies without deep pockets. That must be why we only recommend a 3% weighting in energy stocks....not that its congruent with what you just stated or anything. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted March 10, 2022 Share Posted March 10, 2022 4 hours ago, spin_dry said: The oil companies own the republicans. It’s obvious. Kind of like how the MIC owns the "neolibs" then... Quote Link to comment Share on other sites More sharing options...
Anler Posted March 10, 2022 Share Posted March 10, 2022 2 minutes ago, DriftBusta said: That must be why we only recommend a 3% weighting in energy stocks....not that its congruent with what you just stated or anything. Energy has been volatile and my comment wasn't soley directed at that sector. Alot of manufacturing does that. It makes it hard for start ups. I have a couple friends who did start ups in the food industry. All of them got bought out by food conglomerates and they just trashed the brand after the purchase. 1 Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted March 10, 2022 Share Posted March 10, 2022 18 hours ago, BOHICA said: My charge was free tonight while getting shit faced at the bar. Free charging at the hotel. Added 40 kWh to the model 3 for $0 I also hear that cost for generating electricity with wind and solar has remained the same. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted March 10, 2022 Gold Member Share Posted March 10, 2022 (edited) 1 hour ago, revkevsdi said: I also hear that cost for generating electricity with wind and solar has remained the same. My solar hasn’t changed in cost…. Wife said we had some passing snow showers today. I could definetly see it…. 😂 Edited March 10, 2022 by BOHICA Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 10, 2022 Author Share Posted March 10, 2022 1 minute ago, BOHICA said: My solar hasn’t changed in cost…. Wife said we had some passing snow showers today. I could definetly see it…. 😂 Impressive. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted March 10, 2022 Gold Member Share Posted March 10, 2022 (edited) 19 minutes ago, spin_dry said: Impressive. Haven’t even been up and running for a year. 28 of April I will be 1 year of production. End of Feb I really started sending it again. Dec and January are rough. April I should be approach 80 kwh a day with latter part of April creeping above 90kwh a day. Once the pickup comes in I will never need to go to a gas station again for personal needs. I went hard over the last year on getting off paying energy companies electric company and petroleum companies…. Solar, 1 Tesla within a year and should have the Rivian this year. I will still have natural gas for heat and hot water…. But start my journey of going all ocd on research…. Heat pump hot water heater and thinking about doing a heat pump and just keep gas furnace for back up and for the coldest days that a heat pump wouldn’t work. Edited March 10, 2022 by BOHICA Quote Link to comment Share on other sites More sharing options...
snoughnut Posted March 10, 2022 Share Posted March 10, 2022 8 minutes ago, BOHICA said: Haven’t even been up and running for a year. 28 of April I will be 1 year of production. End of Feb I really started sending it again. Dec and January are rough. April I should be approach 80 kwh a day with latter part of April creeping above 90kwh a day. Once the pickup comes in I will never need to go to a gas station again for personal needs. I went hard over the last year on getting off paying energy companies electric company and petroleum companies…. Solar, 1 Tesla within a year and should have the Rivian this year. eill still have natural gas for heat and and hot water…. But start my journey of going ocd on research…. Heat pump hot water heater and thinking about doing a heat pump and just keep gas furnace for back up and for the coldest days that a heat pump wouldn’t work. Good lord……..you’re a nerd. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted March 10, 2022 Gold Member Share Posted March 10, 2022 1 minute ago, snoughnut said: Good lord……..you’re a nerd. 12 years to retirement. My entire retirement years I will have $0 electric cost and $0 in vehicle gas cost. My goal is 10 years before I retire is to have $0 heating, cooling, and gasoline expenses or near zero. So may add some another 5-10 kw this year and and switch to electric for home heat and water heat. we all know the cost of gas and electric ultimately go down by year…. 😂 10 years from now gas could be $15 a gallon and electric prices double. Quote Link to comment Share on other sites More sharing options...
racer254 Posted March 10, 2022 Share Posted March 10, 2022 13 hours ago, Anler said: Energy has been volatile and my comment wasn't soley directed at that sector. Alot of manufacturing does that. It makes it hard for start ups. I have a couple friends who did start ups in the food industry. All of them got bought out by food conglomerates and they just trashed the brand after the purchase. Remember, THEY DIDN'T have to SELL. But probably did because they made a huge profit. Astonishing, but isn't that one of the reasons you go into business, in the hopes to make a huge windfall when you sell out. Quote Link to comment Share on other sites More sharing options...
ford_428cj Posted March 10, 2022 Share Posted March 10, 2022 @f7ben Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted March 10, 2022 Platinum Contributing Member Share Posted March 10, 2022 (edited) 36 minutes ago, ford_428cj said: @f7ben FFS…and you say I’m dumber than a stump.…there are existing wells not currently pumping because Oil Companies don’t give a fuck about how much you are paying for gas…if you had read “the liberal trash” articles I posted you might have a fucking clue….then again probably not.🤣 Edited March 10, 2022 by Jimmy Snacks Quote Link to comment Share on other sites More sharing options...
Anler Posted March 10, 2022 Share Posted March 10, 2022 19 minutes ago, racer254 said: Remember, THEY DIDN'T have to SELL. But probably did because they made a huge profit. Astonishing, but isn't that one of the reasons you go into business, in the hopes to make a huge windfall when you sell out. Stunning analysis 1 Quote Link to comment Share on other sites More sharing options...
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