Will Obama's plan to "punish" BP end up costing the American people more for gas?

Question

Obama plans to punish BP with a 1 cent per barrell tax to pay for the oil spill clean up. This new tax is expected to put $500 million over the next ten years into the Oil Spill Liability Trust Fund, which covers damage caused by such disasters.
Will the price of gas go up as much as 21 cents a gallon as a result as some experts are predicting and why is Obama punishing the American people?

Answer 1

I checked the story out and you are right. It will definitely hit the American tax payer in the pocket book and cause prices to rise on everything else. Goods have to get across the country and when the price of fuel goes up so does everything else. The is what Emmanuel spoke about when he said never let a crisis go to waste. Obama gets to raise the price of gas to punish the consumer..another nail in the coffin of our economy.



For those of you who think we will escape because you don't buy BP gas..this isn't gas we are talking about this is oil. BP sells their oil to other companies just like Exxon, Shell, etc. who refine it and sell it to you.

Answer 2

Do you mean the shrimpers and the fishermen, not to mention the people whose livelihoods depend on the tourist industry and the beaches? Are they not the ones being punished the most? Millions of people could be economically and environmentally ruined, and you're worried about the price of gas. America was warned almost forty years ago that the country was far too dependent on oil for energy.



Maybe your parents might remember the energy grisis in the Seventies.



Has it never occurred to you that paying more for gas just might help lessen dependence on oil? God forbid you might have to ride a bike, or even worse, walk a few blocks.



Obama isn't "punishing" you. America is just paying the piper for ignoring numerous warnings over decades that cheap oil is a bigger threat to national security than Osama bin Laden ever could be.



If this attitude keeps up, the country will be far more impoverished than an extra 20 cents a gallon is going to cause. This kind of disaster is going to continue happening until Western countries stop being such gluttons for cheap energy.



The party's over. Face it. Don't blame Obama for this. It's been coming for a long time.

Answer 3

Obama plans to punish BP with a 1 cent per barrell tax to pay for the oil spill clean up.

Where did you hear that?



Will the price of gas go up as much as 21 cents a gallon as a result as some experts are predicting

Which "experts" stated that and where did you get this information.



Lack of source "argument" is fail.

Answer 4

He's not 'punishing the American people', and I'm curious where you got that goofy idea.



They will not be allowed to raise the price of oil because of this. BP has made more than $80 billion (that's with a "B") in *profits* over the past five years. And during that period they have been dinged more than 5,000 times for health, safety and environmental violations. More than 50 of their workers have been killed, and 500 injured, in the US alone during that period, and BP has fought every victim compensation and criminal and civil fine imposed over these incidents. The federal government is going to crack down on them, and they do have the power to veto and punish punitive price increases. This is a corporation that cares nothing for the rest of the world.



In a worst cast scenario for BP, the government could order it broken up and sold off, similar to what happened to AT&T 25 years ago.

Answer 5

Obama is making an attempt to create a hate dating between the persons and enterprise. it truly is tremendously obtrusive with the aid of now. Did you ever ask your self why? Why could he experience he has to make an unsightly, actual violent form fact asserting he could carry his boot heel on BP's throat while they are already attempting very difficult to rectify the situation and stated they're going to pay for it. It very nearly feels like a que for a number of his thugs to commit some vile act against them or deliver various hundred people to 3 attorneys domicile whilst purely their 15 3 hundred and sixty 5 days previous is at domicile. It truly became very unpresidential a minimum of. I could desire to trust Rand Paul and that i totally understand each and all the positions he defined on the video.

Answer 6

maybe the oil companies can use some of the profits they've been saving up. nearly all the oil companies' profits have somehow increased even as oil prices went up naturally when supply was low.



really, there's no reason to defend oil companies. these guys are not your friends. they aren't running for reelection. they're only concerned with preserving the industry as long as possible, no matter what the cost.



personally, i wouldn't mind a gas tax. hardship triggers reform, and the sooner we develop more viable electric cars and better hybrids, the sooner it will become widely affordable. it will be like a fast-forward button on scientific progress.

Answer 7

hey everyone knows the American people have bottomless pockets

so taxes are nothing to us

OF course American people will pay and pay

they will lower the gas prices a LITTLE then a month later raise the heck out of them

we will complain

but will not stop buying gas

after all, we can not stop...we need to get to work and to school

we the people will PAY

BP and our ( supposed ) government will make sure we the people will end up paying in the end





good luck

smile

Answer 8

We will pay for it anyway. You don't honestly think BP will absorb the costs do you? No, what will happen is. They will initially pay for the clean up, then pass that cost onto the consumer by jacking up oil prices so when we go to buy gasoline we pay more for it. Other oil companies will follow suit, "because they can". The taxpayers ALWAYS, and I mean ALWAYS end up paying for everything!

Answer 9

So BP should get away scot free without taking any responsibility fiscal or otherwise? China's demand on petroleum is usually what drives the prices even when we consume less because they have such a high consumption rate.

Answer 10

As with any other tax on a corporation that is imposed by the government, it will be passed on to the consumers. I guess we will have to wait and see how much this is reflected at the pump.

Answer 11

BP, Halliburton, and TransOcean should not be allowed to do business in America following this.



None of these three corporations are even based in the US anyhow.



BTW... why is it that the con's always take the side of corporations over America, no matter what country the corporations are from?

Answer 12

Yes, and add in the environmental bill, and the cost of your gas will skyrocket!



Edit:



@MR. Smartypants, I was going to say that too, but think about it: If BP's gas prices go up, people won't buy BP, so they other people will raise THEIR prices, because of the increased demand, and the whole thing will go up. It's supply and demand.

Answer 13

We are going to pay more for gas regardless of what BP suffers.



So basically if I can raise the price of something I should be able to get away with murder then?



According to your unsound logic it appears that people with money should not be held accountable for their actions.

Answer 14

What's another torpedo to a sinking ship? 21 cents is nothing in the government desire for 10 dollar gas.

Answer 15

The Crude oil is marketed on the international exchange so that money will have no effect on what is paid at the pump.

Answer 16

The alternative is we pay for their damage to our country. Isn't that punishment too?

Answer 17

It will all be passed on to consumers. The "punishment" gambit is no punishment at all. However, the word sits well with his disciples who are stupid enough not to realize that they will be paying it out of their own pockets.

Answer 18

i don't buy gas from BP. so i could care less.



Tim; car pool. gas goes up and down all the time. supply and demand is a powerful tool and goes both ways. don't buy gas from the expensive stations.

Answer 19

Absolutely, BP will pass every penny of it on to their customers, thats you and me.

Answer 20

No, not at all. It's ridiculous to think that a .0125% tax will somehow translate into a .29% tax.

Answer 21

THey might, but that would still mean they were lower now than this time in 08

Answer 22

Zer0bama has always planned to raise the price of energy.



He thinks it's easier to drag the country kicking and screaming to alternative fuels than crafting an argument for the benefits.



He's a socialist.

Answer 23

YEP!



I hope they don't give that idiot anymore money. Obama was the biggest recipient of BP political donations.

Answer 24

Of course it will. Obama's not the sharpest knife in the drawer..

Answer 25

of course