I agree many of those items could be luxuries....still...every school kid older than 5 seems to need an Iphone.

I have a hard time sympathizing when folks complain about paying $3 a gallon or more. I wish I could pay that much...but I also recognize it's my choice and I could reduce my fuel costs by living elsewhere.

But you're right that increases in energy costs are a tax on the economy.

Well maybe not but they are making some profits and doing pretty good.
https://www.chevron.com/stories/chevron-reports-fourth-quarter-earnings-of-3-1-billion

As far as taxes go I have worked in the oil industry from the inside and have seen how they run. I'm not an expert but I have a very fair opinion of there business. I can tell you that one State has given back billions upon billions of dollars back to oil companies because of low prices and the State is so afraid of the those companies will leave their State. Taxes and fines that should of been collected were regarded as nothing has happened and forgiven.

On the other hand there have also been some HUGE scams by foreign governments trying to extort money from the oil companies. Especially Chevron in South America.

I know 9.2 billion dollars sounds like a lot. But it's a drop in the bucket when you consider what it cost them to generate that number and how many people they have to share it with. If it went into the CEO's pocket I could see where it might be considered excessive. But that isn't the case.

Today you could have bought one share of Chevron for $122.19. That would allow you to share in those earnings of $1.64. That doesn't sound excessive to me. In fact it doesn't even sound like a reasonable return on your investment.

We have seen that similar situation on oil taxes here . But when a company, or an individual loses money, he pays no, or little tax because there is no income.

Nicely said White. It is good when we can attack the issue/topic and not attack each other. That being said when profits are high these companies find ways to spend that money including bonuses lining their own pockets and of course investing in many other ways. It is a slippery slimy business I can tell you that not saying it is good or bad but a lot of it is you rub my back I will rub yours. LOL I ain't saying anymore. LOL

One more thing I'm not trying to change anyone's mind or the way they see it I always enjoy see others opinions on these topic. I always have to chuckle when there is a serious topic started, there are some that don't want anyone to think different then how they see it. LOL Those people should never post or start a thread because we aren't going to think alike and that is a great thing. LOL

Trump calling BS that oil at the pumps are rising. Been a head liner for about a week now. OPEC rethinking suppy now.
https://www.cnbc.com/2018/05/25/oil-pric...utput-caps.html