Home Forums Hunting & Shooting Hunter's Campfire Biden Doubles Down on Gasloine Price Increases

Inputemail.nam.org

The NAM (National Association of Manufacturers) is pushing back on a legislative proposal in the U.S. Senate that would raise taxes for energy manufacturers in the United States.

The bill: Coming shortly after new sanctions targeting Russian energy imports, the legislation—called the Big Oil Windfall Profits Tax Act—would levy a new quarterly tax on large oil companies. This proposed excise tax would apply to every barrel of oil produced by large companies and would be equal to 50% of the difference between the current price of oil and the average price per barrel from 2015 to 2019. The revenue from this proposal would fund a new tax credit that would be paid to individuals on a quarterly basis.

The problem: The bill would raise taxes on oil companies and other energy producers that are critical to the needs of the American people at a time when prices are already high—harming their ability to do vital work and raising costs further in an essential industry.

A version of this proposal was signed into law by President Jimmy Carter and was repealed in 1988. Analysts found this tax increased America’s reliance on foreign oil and ultimately did not raise the revenues suggested by its proponents.

Our action: The NAM is aggressively countering the proposal and standing up for America’s vital energy manufacturers. The association remains on guard against industry- and product-specific tax increases, which can inhibit growth, reduce the competitiveness of the targeted sector and distort resource allocation.

Our take: “Our country is sacrificing to save the Ukrainian people, and this is a blatant political ploy to exploit a crisis to enact an extremist agenda,” said NAM President and CEO Jay Timmons. “American policymakers should be singularly focused on saving the people of Ukraine and ending a dictator’s expansionist ambitions, instead of attacking American businesses that are doing all we can to support our government’s efforts to bring about peace.”

PS: I heard on the radio this morning that oil drilling permits in the United Sttes are down 85%.

PPS: Putin didn't do it.

Raising taxes and spending more are always the solution for the democrats.

So Biden's first day in office he goes on the attack against the domestic energy sector. This has resulted in an energy sector less than eager to stick their neck out expanding production. This is then met with another Biden attack on the profits his policy generated through lower production and higher pump prices. The net effect of this will be yet higher production costs and yet higher pump prices.

Genius, pure, unadulterated genius.

And giving more to the freeloaders

Before it’s over they’ll have gas cards to go with the EBT and WIC and o’bummer phones.

I think they already have those

This is another tactic they are using to blame Big Oil for Biden's energy policies.

Attacking corporations, especially Big Oil, is a well know and very successful tactic. Look how many Union members hate the companies that gave them employment.

"but, but,but" nothing that I or my administration did had anything to do with high gas prices, inflation, whatever. (sarcasm off)

im waiting to see earnings reports from big oil,

if they show big increases in profits next few quarters, they raised prices because there taking advantage of the situation, and should have the hell taxed out if them, if they show worse profits ever maybe they get some tax breaks,,

I heard that is already happening.

no one cares who is actually to blame

highest gas prices on his watch, the buck stops with him.

Americans are demanding he do something about it, he is telling them its up to Putin to decide whether we get cheaper gas or not.

huge tactical mistake for the supposed most powerful man in the world.

Yeah, because taxation is always the answer.

I care who is to blame and I'm sure many others are too. This is pure and simple his/their plan all along, to raise fuel prices and promote the green new deal without having to get the votes for it. Throw in the global warming agenda and it's all wrapped up in a destructive plan of attack. If there ever was a time for a presidential recall we have it now!

Ok … Ya think Bi just open the National Oil Reserve because their to stupid to know Private Sector Oil and Gas Availability..
Maybe you think Bi just likes getting on his knees with the House of Saud and the Two Bit Dick in Venezuela begging for Oil..
The Majors are going to make money it’s call Supply and Demand Comrade..
Supply goes down price goes up..
Then there’s the Inflation thing..

LET'S GO BRANDON!!!

This is a shake down of the oil co. The oil co will go make donations to campaign coffers. Then the restrictions will be lessened.

Whose idiotic idea was this?

President Susan Rice, in cahoots with Focahontas…..

It is here in NY already.

Only a f'cking idiot would believe that businesses pay taxes.