How can a tax on US oil companies lower the price of a global commodity?
How will punishing them to quell some sense of envy (inherent in most liberals) make the situation any better. I think it is exactly the wrong thing to do.
There are plenty of companies whose profits on a percentage of their total sales have far outpaced any of these oil companies in recent quarters. Below are a few quick 'Net Profit Margin' numbers for a recent quarter (like last month) obtained very easily from Google.
exon Mobile 10.00%
Conoco Philips 7.32%
Royal Dutch Shell 8.05%
Bayer Schering Pharma 12.17%
Merck & Co., Inc. 56.73%
Pfizer Inc. 23.58%
Spite, and revenge helps no one. I think the liberals are not in fact trying to help us, they want us weaker and this effort has been in play for years.
The liberal Democrats will tax those (already international) companies right the hell out of this country. Then the tax will be for nothing. Then the price of fuel will dazzle you for sure.
Drill here now. Get government out of the way, keep environmental extremists and their litigation at arms length. Those are ideas to help.