You can be part of the ignorant masses or you can educate yourself. Most people don't want to be educated they just want to chime in and state an opinion which is seldom based on any real facts.
If that's the kind of person you are then the Forums are you Nirvana. But if you want to learn and understand what is going on with Oil Companies I suggest you do a little reading. In less than 5 minutes an average reader can wake up to the FACTS.
http://www.americanthinker.com/2011/05/ … idies.html
"Exxon recently released its first quarter results for 2011. The number grabbing the headlines was Exxon's profit: $10.65 billion in a single quarter. The number not given quite as much exposure was the taxes it paid in that same quarter: $8 billion, or 42% of income before taxes."
"If you think oil companies enjoy some special privilege because of the money they throw around Washington, DC, consider that the Oil & Gas industry ranked only 19th in the amount of money contributed to politicians in the 2008 election cycle: $17.7 million. Who was number one? Lawyers, who contributed $126.9 million, or over seven times as much as the Oil & Gas industry. The Education lobby gave $37.4 million, more than twice as much as Oil & Gas."
The question is maybe, taxes paid to whom?
They shelter a lot of their money in subsidiaries in places like Bermuda and the Cayman Islands, and owed no net tax liability to the US federal government in 2009 at all.
In 2010, they paid $1.6 billion in US income taxes, $6.2 billion in gasoline sales taxes, and $2 billion in local property taxes and other duties for the entire year, so pardon me if I find it a little fishy that they'd suddenly pay almost as much in one quarter as they did in the entirety of last year.
There is the story of 2 brothers in an argument about taking turns riding a sled. The older brother said it was totally fair - his little brother had the sled half the time. The younger brother protested the division - "He rides it downhill - I only get to take it back to the top."
The deception here is the same kind of barely truthful propaganda. Gas stations collect taxes at the pump which is where roads come from. But it's deceptive to call those taxes 'paid' by the oil companies.
I Hate Hate Hate the Oil Industry...except for the folks who drill for personal lubricants...
"You can be part of the ignorant masses or you can educate yourself. Most people don't want to be educated they just want to chime in and state an opinion which is seldom based on any real facts."
Big Oil is neither the saints that you portray them to be, nor are they complete villains either. They play the Washington game like everyone else but they deal in the world's most valuable commodity and that gives them more clout than most.
Between the oil companies' "drop all regulations and let us drill anywhere" and "make oil appear by magic with no drilling," there is a middle ground which "uneducated" people want to be trod.
Being "Educated" doesn't mean following someone else blindly.
That would be me:
http://www.globalresearch.ca/index.php? … ;aid=24507
by Stump Parrish6 years ago
How do we make sure this doesn't happen again you ask? Deregulate further and open more of the gulf to drilling. That could only makes sense to those in the oil companies back pockets.
by Harvey Stelman6 years ago
I voted Democratic because I believe oil companies' profits of 4% on a gallon of gas are obscene but the government taxing the same gallon of gas at 15% isn't.
by lady_love1585 years ago
http://m.washingtontimes.com/news/2011/ … increases/Really, and people think this guy is a genius? Why does he insist on making ideological proposals that even his own party wont support? This president is beyond...
by Don W6 years ago
Would a free market have prevented this from happening?I'm guessing the libertarian argument would be that the failings of state regulation was a contributing factor. Those failings stemming from the fact that the...
by kerryg5 years ago
Contrary to what has been suggested in several posts here over the last few weeks, Obama's supposed imposition of "regulation after regulation, roadblock after roadblock" is not what's holding up domestic oil...
by Gary Anderson4 years ago
Worried about the price of gas? Our oil companies aren't. They export oil in the SF Bay and in April will start exporting West Texas Intermediate (WTI) from the Gulf of Mexico. http://www.businessinsider.com/the-asto...
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