The Conservative Cave
Current Events => The DUmpster => Topic started by: Crazy Horse on April 03, 2008, 09:23:01 AM
-
They are just IDJITS :thatsright:
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3098462
ck4829 (1000+ posts) Thu Apr-03-08 08:57 AM
Original message
Exxon Mobil attacks and demands subsidies at the same time
Advertisements [?]Edited on Thu Apr-03-08 08:57 AM by ck4829
Top oil executives said Tuesday that despite their industry's record profits, Congress should continue granting them $18 billion in annual tax subsidies and expand drilling in areas that are now off-limits.
ExxonMobil Corp. Senior Vice President Stephen Simon told a House committee that "stable" tax policies "are essential to encouraging needed investments."
http://www.palmbeachpost.com/business/content/business/...
Exxon, the world's most profitable publicly traded corporation, was most defensive about its profits, but took a hard line with the committee on legislation that would rescind an $18 billion tax break for the five biggest oil companies and use the money to encourage investment in renewable and alternative energy. In addition to Exxon, the committee heard from Shell, BP, Chevron and Conoco Phillips.
Profits in a commodity-based business are cyclical, warned Simon, and profits in high times help the oil companies through leaner periods. Exxon's U.S. tax bill exceeded its U.S. earnings by $19 billion over the past five years, Simon said.
"Government mandates and subsidies distort market forces and impeded technological innovation," he said. "Raising taxes on oil and gas production to subsidize alternatives will likely lead to less overall energy production, not more."
http://www.adn.com/money/story/362976.html
spanone (1000+ posts) Thu Apr-03-08 09:01 AM
Response to Original message
1. RECORD, i repeat, RECORD PROFITS....and we're giving them tax breaks...oil man in the WH
and dumbass thay payed more the tax breaks in taxes...............actually they payed more than a large percent of Americans........just hatred of a buisness doing what they're supposed to do.........MAKE MONEY
zanne (1000+ posts) Thu Apr-03-08 09:06 AM
Response to Original message
2. I actually agree with big oil!
It is "political theater". Nothing will come of it. The big oil executives could say "F**k you and your mother" on national television and nothing would change. These hearings just give the illusion that congress is on top of the situation. Congress is powerless over these people. Our government is powerless over these people. Fascism comes in the form of large corporations who control our everyday lives.
Dumbass
mac2 (1000+ posts) Thu Apr-03-08 09:40 AM
Response to Reply #3
7. Put them under house arrest and monitor their activities.
Edited on Thu Apr-03-08 09:45 AM by mac2
Corporations are accountable under our laws. They can lose their charter to do business and be fined. If they are like "humans" (as they try to say) they can go to jail too. They do not have more rights than humans do they?
These oil corporations are destroying our economy (along with the war and tax cuts to the rich). It's a Bush attack from all sides. Impeach the lying, illegal President (a felon and now war criminal) Congress. Gulp, gulp...we are drowning in the Oil Baron pool.
Where is that Corporate Responsibility Act Congress? Hey I'm not a lawyer but I do have common sense.
http://en.wikipedia.org/wiki/Corporate_governance
Yeah Impeach Bush for Oil companies making profits........ :thatsright:
elizfeelinggreat (426 posts) Thu Apr-03-08 10:00 AM
Response to Reply #7
9. It seems common sense isn't the issue
Lobbyi$t$ are.
It might be easier to rid our government of the lobbyists.
( I absolutely agree with you and think we need to attack all the greedy forces and behaviors that have brought us to where we are today. Open up the investigations and give everything the sunshine treatment. )
Free Cheetos for all
mac2 (1000+ posts) Thu Apr-03-08 09:35 AM
Response to Reply #2
6. We have an oil and banking profiteer in the WH
What did people expect?
Feles Mala (1000+ posts) Thu Apr-03-08 09:20 AM
Response to Original message
4. And we better pay up or else....
I think it's time to take away all of their corporate welfare toys and let them compete in the real market for the first time in a long time. The first time a company can deliver the same goods at a lower price, they'll all follow.
You dumbass liberals already ran Haliburton out of the country..............keep it up
mac2 (1000+ posts) Thu Apr-03-08 09:26 AM
Response to Original message
5. How many other countries pad their profits?
Edited on Thu Apr-03-08 09:33 AM by mac2
http://en.wikipedia.org/wiki/Exxon
The CEO of Exxon claimed they were an international corporation. Not just an American one (therefore not accountable to anyone). The CEO looked like a crook the last time I saw him on CSPAN. Put the liar up there! Ya!
We don't have to compete with Asian markets since we are much larger than them (and it is our oil). We subsidize them so they can supply other countries in Asia and find more oil?
Congress has a backbone and say...pay your damages, pay your royalties, and then we will talk more funding. Right now you are a criminal corporation in our eyes. You are not fit to do business here destroying water and land. Get a new board and CEO and we might listen.
Holy shit.......................just when I start to think that maybe the liberals don't want to destroy the country..........mac2, just got a call...........the village is missing their idiot
Wickerman (1000+ posts) Thu Apr-03-08 09:54 AM
Response to Original message
8. So, the Senior VP of Exxon-Mobil threatens the COngress and the Public
and we'll continue to give them tax breaks? Sweet.
"Raising taxes on oil and gas production to subsidize alternatives will likely lead to less overall energy production, not more."
Yeah................that's how it goes. Also hows the price of corn, beef, chicken, pork.......etc
Damn idjits
-
Well, I am greatly confused.
Maybe it's just me, I dunno.
The primitives are always dancing around bonfires about governmental subsidies to businesses.
But when it comes to governmental subsidies to primitives, no bonfires, no dancing-around.
In honest truth, the subway cat is no different from a subsidized business.
-
Ahem, I've posted this before and it bears repeating here.
Federal and state taxes on gasoline production and imports have been climbing steadily since the late 1970s and now total roughly $58.4 billion. Due in part to substantial hikes in the federal gasoline excise tax in 1983, 1990, and 1993, annual tax revenues have continued to grow. Since 1977, governments collected more than $1.34 trillion, after adjusting for inflation, in gasoline tax revenues—more than twice the amount of domestic profits earned by major U.S. oil companies during the same period:
(http://img.photobucket.com/albums/v674/kademan/gas.jpg)
http://taxprof.typepad.com/taxprof_blog/2005/10/gas_taxes_excee.html
http://www.taxfoundation.org/publications/show/1054.html
So just who in the hell do the idiots in Congress think they are??? The govt does NOTHING yet collects an obscene amount of tax on gas and they want to make the CEO's answer??? At least the oil companies are actually producing something for the profit. *banghead*
As of January 9, 2008, the average amount of tax imposed on a gallon of gasoline sold in the United States was 47.0 cents per gallon, up 0.1 cents from the July 2007 report. For diesel fuel, the national average amount of tax was 53.6 cents per gallon, up 0.7 cents from the July 2007 report.
http://www.api.org/policy/tax/stateexcise/index.cfm
A Congressman (Dingell, or as I like to call him, Dingleberry) wants to raise it -
House Energy and Commerce Committee Chairman John Dingell (D-Mich.) will propose a new carbon tax that would increase the gasoline tax by 50 cents, the lawmaker said in an interview on C-SPAN's ‘Newsmakers’ airing Sunday.
In the interview, Dingell acknowledged that voters may not be willing to bear the cost of limiting greenhouse gas emissions, and that he would propose the new tax “just to sort of see how people really feel about this.â€
“I sincerely doubt that the American people are willing to pay what this is really going to cost them,†Dingell said in the interview.
And it's worth noting that oil companies operate under a profit margin that is generally slimmer than the rest of corporate America.
(http://img.photobucket.com/albums/v674/kademan/politics/profits.gif)
(http://img.photobucket.com/albums/v674/kademan/politics/oil.gif)
Notice refining costs and profits comprise no more than 18% of the cost we pay. It costs about $2 a gallon for U.S. refiners to turn crude oil into gasoline before transportation and distribution costs are added, said John Felmy, an API economist.
That leaves 20.6 cents - $1.106 per gallon for transportation, distribution and profit.
“When you take all those costs out you’re not finding unreasonable profits for everything we have to do to get (gasoline) to consumers,†Felmy said.
But Democrats never fail to seize an opportunity to raise taxes. Now let me ask you this, if Congress implemented a 50% windfall profit tax on the oil companies, who do you think would end up paying that? Do you think the oil company executives would feel so guilty that they’ve been making 8 cents on the dollar and smile when that’s cut in half? Or would they simply build the tax into the supply chain and end up passing it along to shareholders and consumers?
http://www.texasrainmaker.com/2006/04/25/more-pain-in-the-gas/
-
Can you post this in political ammunition also? :rocker2:
-
Of course!!! :-)
-
Another screed by the newly found Homoskinnusidjitus species
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3098608
rateyes (1000+ posts) Thu Apr-03-08 09:43 AM
Original message
If we taxpayers subsidize big oil with our tax money
Edited on Thu Apr-03-08 09:45 AM by rateyes
then, dammit, we deserve to share in the profits. It's time the oil companies started giving something back to the shareholders who are the taxpayers. I'll settle for $1.25 a gallon in gasoline.
rurallib (1000+ posts) Thu Apr-03-08 09:52 AM
Response to Original message
1. We also subsidize it with our military
I think that has been the military's main purpose since 1980. I heard one oundit say about 5 years ago that if we had to pay for all the oil subsidies directly in a gallon of gas it would be about $11 per gallon.
We would be so much better off if we just paid for the oil through normal business dealings rather than trying to steal it. Stealing oil has become very expensive.
rateyes (1000+ posts) Thu Apr-03-08 09:55 AM
Response to Reply #1
2. Isn't that the truth!! Problem is, we, not the oil companies
pay the damned bill in treasure and blood.
I feel safe in saying that you are no damn part of that "WE"
dkf (1000+ posts) Thu Apr-03-08 10:01 AM
Response to Original message
3. The biggest revenge against big oil is to go solar.
Edited on Thu Apr-03-08 10:02 AM by dkf
Being dependent on oil is very very bad for the future of our country as it gets scarcer and we have to pay everyone else to get oil.
It is a huge outflow of our $ to a lot of countries that hate our guts. Not good at all.
And unfortunately, cheaper gas inspires people to buy Hummers and other inefficient gas guzzlers, while higher gas prices inspire people to buy Priuses and to use more efficient public transportation.
I believe in peak oil theory and the only way I see American citizens using less gas is to make it expensive.
If you have any ideas, I sure would like to hear it.
rateyes (1000+ posts) Thu Apr-03-08 10:08 AM
Response to Reply #3
4. You do have a point.
So, instead of cheaper gasoline, how about a rebate paid by the oil companies to us taxpayers for every damned dollar they've ever gotten from us, plus the interest earned on it?
IDJITS
-
The oil executives should be questioning the congress critters. The first question might be; "Why do you people impose a huge number of useless regulations that drive up the cost of gas?" The second one might be; "Why won't you let us drill anywhere?" :censored:
-
The oil executives should be questioning the congress critters. The first question might be; "Why do you people impose a huge number of useless regulations that drive up the cost of gas?" The second one might be; "Why won't you let us drill anywhere?" :censored:
You miss the most important question: "why won't you let us build refineries?"
-
The oil executives should be questioning the congress critters. The first question might be; "Why do you people impose a huge number of useless regulations that drive up the cost of gas?" The second one might be; "Why won't you let us drill anywhere?" :censored:
You miss the most important question: "why won't you let us build refineries?"
No shit huh.....how long has it been since a new refinery was built? 30 years?????
-
The oil executives should be questioning the congress critters. The first question might be; "Why do you people impose a huge number of useless regulations that drive up the cost of gas?" The second one might be; "Why won't you let us drill anywhere?" :censored:
I could think up a few more like
Why you hate the oil companies (they are not evil)?
What is so special about drilling off the east & west coast? Plus don't give me that Env. crap because 30% of the seafood comes from the Gulf of Mexico and the abondaned oil platform are some of the best fishing spot in the world.
Why don't you lower gasoline taxes?
Why don't you allow states choices in drilling? Present law allows drilling offshore only in TX, LA & MS
Why is it that when you talk about subsidies, you are referring to the 32% tax rate that is afforded to all Corporations? The WTO kicked your ass (Congress) by trying to impose punitive tax rates on Oil companies at the 38% rate.
Why has not the Congress promoted Nuke power & building new refineries?.
The new energy bill that Congress and the Prez signed will do little to alleviate the energy problem and piss a lot of money away. Tripling the production of Ethanol is a pipe dream. That is if we want to eat because that will consume most of the land used for food crops.
-
I actually agree with big oil!
It is "political theater". Nothing will come of it.
Well, if you had said this in reference to the actions of Congress parading the oil execs into their committee to try and score brownie points with people who are too stupid to understand economics, and then STFU, you would have made sense. But that's asking too much, isn't it DUmmies?
.
-
Well, I am greatly confused.
Maybe it's just me, I dunno.
The primitives are always dancing around bonfires about governmental subsidies to businesses.
But when it comes to governmental subsidies to primitives, no bonfires, no dancing-around.
In honest truth, the subway cat is no different from a subsidized business.
UGP is more like a living Black Hole. Sucking uo anything that comes her way and giving nothing back in return