Clinton wants to stop gas tax and tax oil company excess profits to make up the difference?

Won't the oil company just jack up the price of gas to maintain their high profit margins, thus passing the cost on to us gas consumers?Clinton wants to stop gas tax and tax oil company excess profits to make up the difference?
The truth is the oil companies are not making that much more per gallon than they were 20 years ago. What is happening is that over all consumption of fossil fuels has risen dramatically hence they are selling more product. How some one can punish anyone for making a profit and say its for the ';common'; good is not very sensical. Hillary and her compatriots in Congress have killed almost every energy bill that has come before them for the last 30 years. Its time to lay the blame where it lays on the very politicians that feign disdain for profits when they are the ones who laid the groundwork for the oil companies to make one.Clinton wants to stop gas tax and tax oil company excess profits to make up the difference?
Not exactly. Gas is a fungible commodity, and the prices tend to float with that of oil. There really isn't a lot of 'jacking up' in gasoline distribution. Oil, there is, due to speculation, at the moment - there's a 'risk premium' built into the current price.





But gasoline doesn't make big margins for anyone. Reducing the gas tax would bring the price down noticeably - and the amount used /up/. It would also allow gasoline distributors to make a slightly higher margin.





So the two aren't related. 'Excess' proffits (there's really no such thing, profit is anything in 'excess' of costs) aren't from gasoline sales, but from oil sales.
We need to end all gas taxes including state and local gas taxes. The money can be recouped by charging a $2.00 surcharge on all public transportation fares*. You are right an excess profit tax on oil companies is really a tax on the customer. Oil companies are in the business to make money otherwise why start a business. In fact if I own shares in Chevron I expect the people running the company to make money at all costs. I then can use my investment earnings to give to my favorite charity as I please. What is considered excess profit? Why is Wal Mart criticized for selling things cheap and mom and pop store praised for ripping off the consumer with high prices. If people don't like oil companies why don't they set up their own oil company and sell gas at a reasonable price? I really wish they would then we could put the greedy oil companies out of business. Wal Mart needs to get into the oil business.
That's a solution from a typical politician. It's on par with Obama's brainstorm of letting the board voice opinion on the pay of CEO's (which sounds great except that those opinions can be ignored so it doesn't solve anything it just sounds good to voters)





However, there is evidence to prove that oil companies do have methods to inflate the price at the pump (check out how many refineries were purchased and immediately closed by oil companies). It might account for only a few cents per gallon but when you consider the amount of gallons served, it adds up. The concept is to add a deterrent to the greed and manipulation of the market but there are plenty of ways around those deterrents.





We (the US) had an immigrant enter the country in the 40's who had invented an engine that ran off of water (it produced it's own hydrogen). The guy even ran a boat with it for 12 hours straight or something... but look at where that technology went? Into the suppression pile.





It would serve all of the candidates better to come out proposing heavy federal funding into realistic alternatives like hydrogen-based engines and to stop letting these alternatives be swept under the rug.
American oil companies are not even in the top 20 of oil companies in the world so their excess profits are marginal in comparison. gas tax, excess profit tax, stop one initiate the other. Either way it's still tax and the consumer will end up paying. By the way, Wal-Mart made more profit last year than all American oil companies combined. Yet Clinton doesn't even mention anything about that. Could it be that she was on the Wal-Mart board of directors and has a stake in the company?
The federal gasoline tax rate is 18.4 cents per gallon. Even if this tax is suspended, it won't mean diddly. Gasoline has gone up that much in the past two weeks in North Carolina.





Even if the tax is rolled back, the oil companies will time the increase in prices so that we won't notice any difference at all.





All Clinton is doing is preying on the ignorance of the average voter.
really, that is yet another Clinton lie she willnot have the power to do so as President. Besides so many states rely on gas taxes to supplement their revenue. Try telling the states that you are going to cut off a huge percentage of their states revenue and watch what happens.
Not a very smart thing to do. Those tax dollars help with the up keep of our highways. With out that money our roads would suffer not to mention put people out of work because there would no money to do the work. It will never happen because Congress has to vote on it and Bush would probably veto it anyways.
Even if they tripled it she is saying that they would only be allowed certain profit.And they would get slammed with tax.Listen and think about it, it would not be wise to raise the price of gas if that were to be done.They'd end up losing.
The gas company would just lower the supplies so prices will raise and they will still make a profit.


Best to find new fuel source and to increase auto mileage.


They know how the make a car that can get 80 -120 miles per gallon.
Not if they know they'll face stiff penalties for price gouging. Exxon Mobile just posted the highest profit quarter in the history of any corporation... And this is happening as gas goes over $4 per gallon.... No.. they don't need regulation....
it can the capitalist system doesn't allow to regulate business very easily. they should simply put a barrier where how much money they can make and take the rest of the profits.
Yes. It really shows how ignorant she is about economics. It is also Stalinist to say she will take their profits.
Clinton and McCain want to stop the gas tax which economists has deemed to be a disastrous proposal.
I see only 2 of ya that know what your talking about it a shame that gives you an idea how the rest of the population breaks down!
If she was smart she'd put a price ceiling on gas but that's doubtful.
Yes, and that's why you need price controls
yeah............shes da smartest!