Companies are now showing these huge profits because their investors are demanding that they show huge profits.

Oil company execs: “The shareholders made me do it!”

Riiiiiight.

Dude, if we stay on this course, our grandchildren will be living in an America that is a third-rate power.

Additionally, they buy their oil from whatever source is expedient – for example, Iran. Oil is fungible, however, so even though we do not purchase Iranian oil the fact that Europe has no qualms about it means that is all balances out in the end!!!

We will make decisions like the above before we use solar powered cars. I don’t know if I like it or not, but that will not matter much in the end, eh…

Ara…
My point about the dividend tax code changes is simply this: Companies are now showing these huge profits because their investors are demanding that they show huge profits. Investors want dividends. Thus, both companies and investors are paying a dividend tax now where before 2003 they paid neither – but they are willing to pay that tax because they want unfettered cash flow. So, Ara, you will naturally see companies show more profit. That is a good thing, eh…

By the way, I too drive a lot and pay for health insurance. I invested in much better spark plugs, plug cables, better filters, and a good fuel additive and get about 5 mpg better gas mileage. And, my health insurance premium went up almost 2% over last year - which didn’t break my piggy bank. And, having kids in college kinda points to a good prioritization of life expenses. My parents and grandparents would not be crying about the lousy economy that allowed them to send their children to college, pay for CAT scans, and fly cross country for $400. You have done well and made the good decisions. Most other Americans have as well – I wouldn’t assume otherwise.

I’m just saying.

While it is popular for the US MSM to run articles complaining about high gasoline prices, I’ve concluded all of that noise is just more Rosie vs. Donald fluff… it is mostly synthesized angst, created for the sake of raising attention. Americans ranting about high gasoline prices to a news reporter serves as a brief catharsis, before jumping in the car and running off to the ball park to buy $50 tickets…
This relates to all of you who think putting a small tax on gasoline is the way to go (for various reasons, whether you are a green hawk or worried about AGW or simply anti-suburbia). I propose that there is little reason to believe a gasoline tax of even $1/gallon would make much of a (gasoline) consumption difference. If the elasticity of gasoline is -.1, then a $1 tax on top of todays price of $3.10/gal would lead to roughly a 3% decline in consumption - barely enough to fend off the annual increase in population driven increases.

Some people would find this acceptable, even desirable, because (a) well, a 3% decrease actually would be of some significance, and (b) they like the government to have more wealth. True conservatives generally disagree with (b). But as the author notes:

However, there is a possibility that raising taxes would lead to overall consumption declines, in other goods, thus possibly inducing a recession (or perhaps deepening one already underway), which in turn might lead to less driving, and thus an additional decrease in gasoline (and diesel) demand.

In other words, if your only interest is reducing consumption of petroleum (or greenhouse gases), oh, we have policies that can take you there…

New Yorkers are so provincial.

Seriously, most people (in that Steinbergian territory out beyond the Hudson River) drive cars every day and will continue to do so because mass transit simply isn’t available.

Boghie:

One of the positive effects of the BusHitler tax code changes was the adjustment of the Dividend tax.

Dude, my eyes glazed over by the time I got to the end that sentence. BusHitler? Dividend tax? Who talks like that? Get real.

Mrsizer:

[I]f you have any healthcare or energy sector experience, the economy is not only booming, it’s skyrocketing, exploding, .

Yeah. Well.

See, I guess that’s my problem: I’m just a regular guy who works for a living. I’m “lucky” that I have health insurance.
I have my 401k, I have a few investments. I also have a wife and four kids to support — one in college, one on the way to college. And I have two others that need to be driven back and forth to school each day — that’s four trips to a school that ain’t exactly next door or down the street.

THAT’S the kind of “healthcare or energy sector experience” that I have. IOW, I’m like most people in this country. And I have to tell you: the economy ain’t booming for us.

Wake up, people: Y’all can talk about BusHitler and Dividend taxes all you like, but you’re missing the point. Most of us (70%) think this country is definitely on the wrong track.

AW1 Tim:

Oil is not the problem. The oil is there, and in far greater quantity than the leftists would like you to belive. It’s the refining capacity that’s the problem.

Baloney. The problem is that we’re not energy independent. We still import half of our oil from sources that want us to kiss their asses before they fill our buckets.

{Excuse my French, Ron.}

THAT’S the problem. You got a solution to that, Mr. Oil Refinery?