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co.mments
Consumer-First Energy Act of 2008
A bill to provide energy price relief and hold oil companies and other entities accountable for their actions with regard to high energy prices, and for other purposes.
Other Bill Titles (5 more) 5/20/2008--Introduced.
Consumer-First Energy Act of 2008 - Amends the Internal Revenue Code to:
(1) deny major integrated oil companies (i.e., companies producing at least 500,000 barrels of crude oil daily) a tax deduction for income attributable to domestic production of... moreSee Full Bill Text
Amendments
This bill has no amendments.
Bill Status
| Introduced |  | Voted on by Senate | | Voted on by House | | Considered By President | | Bill Becomes Law |
| May 20, 2008 |
Latest Vote
| June 10, 2008Roll call number 146 in the Senate | |||
| Question: On the Cloture Motion (Motion to Invoke Cloture on the Motion to Proceed to Consider S. 3044 ) | |||
| Required percentage of 'Aye' votes: 3/5 (60%) | Percentage of 'aye' votes: 51% | Result: Cloture Motion Rejected | |
Users tracking S.3044 (11) are also tracking:
| People | Bills | Issues |
|---|---|---|
In the News
June 16, 2008 OPINION: Americans Need Relief From High Energy Costs
The Consumer-First Energy Act, S. 3044, which I co-sponsored, addresses the root causes of high gas prices by holding the big oil companies, speculators, ...
June 13, 2008 Crude ideas about crude oil
Exhibit A in the case against congressional Democrats as wise stewards of the energy economy is S. 3044, which failed to advance Tuesday after it got too ...
June 13, 2008 Bursting the Oil Bubble
Unfortunately, the Senate failed to end debate on the Consumer-First Energy Act, S. 3044, which would have reined in speculators. ...
Blog Coverage
August 26, 2008 Weâre Losing Momentum On Oil Prices
I strongly supported a debate about S. 3044, the Consumer First Energy Act of 2008, and am disappointed that this legislation failed to be considered on a party line vote. This Act would amend the Internal Revenue Code to deny major oil ...
Source: The Conservative Reader
August 08, 2008 Big Oil
S. 3044. To provide energy price relief and hold oil companies and other entities accountable for their actions with regard to high energy prices, and for other purposes. IN THE SENATE OF THE UNITED STATES. May 20, 2008 ...
Source: Truth to Power
August 04, 2008 Neither McCain Nor Obama Support Alternatives To Offshore Drilling
2991 and S. 3044. These two versions of the bill have 25 and 24 sponsors, respectively. The Consumers First Energy Act would establish a windfall profits tax for energy corporations. It would establish stronger enforcement against ...
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This bill will drive the price of oil and gas higher.
how do you figure it will drive the prices higher?
Not only will this drive the price of oil and gas higher, the only way to enforce a law of this kind against other countries is WAR, but wait a minute, isn't this coming from the no blood for oil gang? Hmmmmmmm
Have you considered we are already in a war? It's called an Economic War. If this bill includes legislation that would be applicable to nationalized oil companies from other countries such as in Venezuela, Russia, and Iran, it is a good thing.
Something has to be done. Keeping the same profit percentage when the base cost is doubling is sinful and gouging the consumers. Shame on the big oil companies. There is only so much liquid capital every family has to spend. Forget vacations, forget any unnecessary activities, forget air-conditining, put on an extra sweater in the winter....while the big oil companies post ridiculous profit margins... Making this retired-military, die-hard republican think I am voting democrat this year. DO SOMETHING NOW!!!
Yes, I agree there needs to be change, however I don't know enough about the oil companies to infer the type of change that needs to be made. I figure their overhead and operating expenses are ridiculously high. Anyhow, here is an interesting article to read,it is a comment from the Iranian President. According to the article, Ahmadinejad says there is price manipulation by hidden hands, the strange thing is he is blaming the USA. Here is the link:
http://www.reuters.com/articlePrint?articleId=USL0380762720080603
It is absurd to think that the only way to enforce a law of this kind is by WAR. If you have forgotten, we have been in war now for hmmmm, how many years now? Something has to be done to control these oil companies. They have seen profits quadruple over the last few years, and yet us Americans are supposed to bail these oil companies out and give them tax breaks?! We are the ones that need a break from these oil companies. Bush has already given oil companies $17 billion in tax breaks while us consumers are steadily seeing prices increase. Even Suadia Arabia agrees that it is senseless that oil prices are at the prices they are. It sad that some Americans can't grasp that concept. It is time that these bi-partisan games get put aside so the senate can do what they were elected to do. They were elected to represent and do what's right for the people of the United States. I hope that the people of the U.S. make some noise if nothing is done to control these oil companies.
The power players involved with *oil* are laughing at the United States. I am watching C-SPAN and the bickering between the DEMs and REPs is pathetic. What has our country come to? What will happen next?
S.879 NOPEC seems like good legislation, but why in heck is it taking so long for it to be passed?
Congressional policies of the last 30 years have made the United States dependent on OPEC countries for much of the nation's energy needs. Congress has itself to blame for the energy woes. Deregulation and allowing more domestic energy production is the way to go, not punitive laws to convince consumers Congress is 'doing something.' Multiple layers of missteps over years may now take time to reverse. Congress ought to point the finger at itself.
A great big AMEN!
I've a question. Why did the sponsor of the bill vote it down? That raises an eyebrow on part.
The government thinks we're all so stupid! Talk about accountability, I'd like to know exactly where and what they're doing with all the gasoline taxes we're paying. I'd like to see a panel of taxpayers questioning those pompous reps. And aren't envornmentalist lobbyist too?
I think this would have a better chance if it was split up to not be an all-or-none vote.
These senators fiddle while Rome burns, each side trying to gain advantage over the other for the November elections. Each side has great ideas, but they wont come together, theirs is a game of political power and has little to do with helping us. To make a bipartisan deal would mean each side needs to give up what they believe is a political advantage going into the elections. A sad state of affairs indeed.
The Carter Administration got involved with windfall profits taxes, didn't work. Oil companies produced less to avoid the tax by selling less. Less oil and gas = higher price at pump.
Drill in ANWR, drill offshore, invest in alternative energies, lower the tariff on Brazilian ethanol, and deal with these speculators. That would be a good start.
Who's holding the senate and congress responsible for making it difficult for a company to succeed in what is suppose to be a free nation? Companies do not pay taxes. The consumer does, can it get any easier than that? Any politician that is in favor of higher taxes or no tax cuts to these corporations are communists. Read Karl Marx's communist manifesto. Wake up America, I don't care what your political part it. Its our politicians that are the problem, not big oil.
Only 8% of the worlds oil producers are private companies. Exxon, Chevron, Shell, ect. The other 92% are countries. Saudi Arabia, Hugo Land, Iran, Iraq, and so on and so forth. They control the price of fuel. Supply and Demand people. The U.S. Congress is the problem here in the US. We do not need the mid-east. Get Congress out of the way. On one gallon of gasoline, a company's profit is only 4%. The governments is 15%. Our own government is robbing us and blaming the big corporations while putting strict restrictions on what they can or can't do.
Does anyone have info on when this will be debated?
This is the wrong answer. What is neeeded is tax incentives for oil companies for domestic exploration and production and import taxes on foreign oil. We are sending $700B, that BILLION dollars out of this country every year in the largest movement of wealth in the history of the world for foreign oil, while we sit on tons of oil in our own borders that we cannot drill due to all of the restrictions on offshore oil and ANWR etc. At this point we are presevering a pristine country for foreigners to buy with our money as we give it all to them so we can drive our cars around.
Follow the Oil Money And it doesn't lead to a good place. U.S. dependence on foreign oil has led to both a wealth transfer and a power transfer. Here is an article that explains it.
http://www.businessweek.com/managing/content/jul2008/ca20080711_495770.htm
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