This is for people who like to Bash the Oil Industry

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  1. MikeNV profile image78
    MikeNVposted 7 years ago

    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.

    Happy Reading … 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."

    1. kerryg profile image87
      kerrygposted 7 years agoin reply to this

      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.

    2. Doug Hughes profile image61
      Doug Hughesposted 7 years agoin reply to this

      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.

  2. cheaptrick profile image72
    cheaptrickposted 7 years ago

    I Hate Hate Hate the Oil Industry...except for the folks who drill for personal lubricants...

  3. Hugh Williamson profile image90
    Hugh Williamsonposted 7 years ago

    "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.

  4. knolyourself profile image60
    knolyourselfposted 7 years ago

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