Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Removing subsidies to oil companies would be a great way to pay for the switch.
$93 billion in profits (in an off year) aren't being returned to anyone you know... they're definitely not going towards helping break the world's dependence on oil.
There is absolutely NO reason for that much money to be going into an industry that is actively fighting against technological progress and actively fighting for a less habitable planet.
It would be a simple transfer of wealth from one area to another... the only people that would be hurt by it already have more wealth than you or I could possibly imagine-- and I suppose the people who were forced into energy stocks by low interest rates, but if they know what they're doing they should already be diversified enough not to need to worry too much.
Back off all subsidies, and easy restrictions on oil exploration?
Quote:
Of course, this isn't the world we're living in and all of this free market BS and American libertarian rhetoric is extremely worrying. It's obvious we can't continue to consume blindly and undermine science for much longer without it having serious consequences for future generations.
Go tell that to the tightly regulated Chinese (and India).
Quote:
In the next five years, almost half of global oil demand growth will come from China, and this trend is set to continue to 2035, as oil demand from the transportation sector is growing strongly in countries such as China and India. In contrast, oil demand among OECD countries is expected to decline over the next two decades, driven mostly by government policies on fuel efficiency and the fact that rates of vehicle ownership are already high.
The only thing stopping solar energy from evolving into the number one energy source in the world is the greed of a very wealthy minority and their stranglehold on the governments of the world.
I disagree. There are many factors involved here.
With current technology, there isn't enough rare earth metals needed to build solar into the number one energy source in the world.
Back off all subsidies, and easy restrictions on oil exploration?
Why should there be any concessions made to the oil industry whatsoever?
If they were using their profits to benefit the environment or people in general it might be another matter, but the billions funneled into denialism and corruption of democracy suggest otherwise.
I think they should be tried as criminals, their assets seized, and all oil production should be done exclusively by the government, as it is in Norway. Giving plum production roles to private interests is a huge mistake and it only leads to imperialism and greed.
Quote:
Originally Posted by chicagogeorge
Go tell that to the tightly regulated Chinese (and India).
China is a state capitalist society that gives its favored private interests free reign. The only thing regulated is the ability of other people to say 'stop doing this'.
Why should there be any concessions made to the oil industry whatsoever?
If they were using their profits to benefit the environment or people in general it might be another matter, but the billions funneled into denialism and corruption of democracy suggest otherwise.
I think they should be tried as criminals, their assets seized, and all oil production should be done exclusively by the government, as it is in Norway. Giving plum production roles to private interests is a huge mistake and it only leads to imperialism and greed.
That is looney tunes. You are saying that the federal government should seize control of corporations that generate the largest tax revenue for the government?
Quote:
1. ExxonMobil
Good thing Exxon has a few bucks left over to build out this Energy Center at its new complex in The Woodlands, Texas.
Income tax expense: $31 billion
Net income: $45 billion
Effective tax rate: 39%
Quote:
2. Chevron
The oil giant pay among the highest tax rates because of overseas royalties that float with the price of oil.
Income tax expense: $20 billion
Net income: $26 billion
Effective tax rate: 43%
Quote:
7. ConocoPhillips
Conoco paid the highest effective tax rate of any company on the list.
Income tax expense: $7.9 billion
Net income: $8.4 billion
Effective tax rate: 51.5%
And you don't think that a federal take over won't send a shock wave throughout our economy?
Quote:
China is a state capitalist society that gives its favored private interests free reign. The only thing regulated is the ability of other people to say 'stop doing this'.
Seems as if that is what you want to happen. Do you actually believe that if the government took over the oil industry, all of the sudden greed would disappear? Please.
Quote:
So invest in solutions to the problem.
It makes no sense to continue to invest in the problem.
How many green energy stocks do you have in your portfolio?
Your article is from 2005... remember how all of that 'removing the barriers' worked out?
What does that have to do with hundreds of millions of American workers and retirees depending on corporate profits to fund their pensions and retirement accounts? Not a damned thing. The FACT is that if corporations' profits are reduced, average American workers' old age is less financially secure.
Everyone who contributes to or benefits from an IRA,401K, pension fund (public employee, union, or private sector),mutual fund, annuity, or whole life insurance policy, etc.,DEPENDS on corporate profits. Just so you understand, I'll reiterate... they DEPEND on corporate profits.
How anyone fails to connect the dots on how so very many Americans' retirement plans (pensions, IRAs/401Ks, annuities, etc.) absolutely depend on corporate profits is beyond me. Don't people have critical thinking skills anymore?
Quote:
Is he seriously comparing pension funds and stock portfolios to ownership?
Yes. Shareholders elect the Board of Directors, which hires the CEO, etc. A very large percentage of total shareholders in the U.S. are pension funds, IRAs, 401Ks, mutual funds, annuities, etc., etc., ALL of which American workers and retirees depend on for financial security in their old age.
That is looney tunes. You are saying that the federal government should seize control of corporations that generate the largest tax revenue for the government?
I'm pretty sure that the profits are higher than the taxes.
Why would they need to tax their own corporation?
Quote:
Originally Posted by chicagogeorge
And you don't think that a federal take over won't send a shock wave throughout our economy?
Yeah, probably.
But they could always just bail themselves out.
At least you could be sure that there's no way they could get away with multimillion dollar severance packages... people tend to have a special kind of hate for politicians that doesn't extend to slimy CEO's of private industry, so that kind of corruption would probably be met with their heads being placed on a stick.
Quote:
Originally Posted by chicagogeorge
Seems as if that is what you want to happen. Do you actually believe that if the government took over the oil industry, all of the sudden greed would disappear? Please.
There is a HUGE difference between public ownership and a government that serves private enterprise.
I'm pretty sure that the profits are higher than the taxes.
Why would they need to tax their own corporation?
Excuse me, but how many hundreds of billions of dollars are invested in oil? How many portfolios would be effected if all of the sudden a government take over occurs and sinks company profits??
Quote:
Yeah, probably.
But they could always just bail themselves out.
Who will bail out the average American with a 401K?
Quote:
At least you could be sure that there's no way they could get away with multimillion dollar severance packages... people tend to have a special kind of hate for politicians that doesn't extend to slimy CEO's of private industry, so that kind of corruption would probably be met with their heads being placed on a stick.
That is not up to the government to decide, but it's up to the shareholders of the company to decide how much CEO's should get.
Quote:
There is a HUGE difference between public ownership and a government that serves private enterprise.
Can you give me an example of one? Let me guess the Postal Service which loses 2 billion a quarter, and has 100 billion in unfunded liabilities.
Excuse me, but how many hundreds of billions of dollars are invested in oil? How many portfolios would be effected if all of the sudden a government take over occurs and sinks company profits??
Why would the government's taking ownership of oil companies do anything except redistribute profits from the oil barons to public works, services, social programs, etc.?
Why do you think they will sink company profits? What sort of magic do the oil barons have that no one else does? Do you honestly think it's THAT difficult to profit from oil??
There is no telling how the market will react at first, but I'm sure it will recover in time. I mean, we're talking about an in-demand resource here... profiting from it is mostly just a matter of owning it and having the resources to extract it and sell it.
Quote:
Originally Posted by chicagogeorge
That is not up to the government to decide, but it's up to the shareholders of the company to decide how much CEO's should get.
So....
Quote:
Originally Posted by chicagogeorge
Can you give me an example of one? Let me guess the Postal Service which loses 2 billion a quarter, and has 100 billion in unfunded liabilities.
That wasn't a response to what I said. I said there's a difference between state-owned corporations and private corporations that are protected by the state.
But anyways, the postal service is losing money because it is outdated (especially with the rise of the Internet) and has never been a plum production role.
Everyone always seems to bring up the postal service when they want to 'prove' that public services don't work... and then they compare it to UPS or something, which actually offers a much different service at a much higher price.
Most things we take for granted today – our cars, our mobile communications devices/smart phones, our computer and television flat screen monitors, lasers, LEDs, iPads – depend on REEs. (rare earth elements) Futurium - European Commission
As always technology is finding ways to overcome the rare earth element problem.... In the case of solar cells, some use exotic and rare materials such as gallium or tellurium. However, the standard version on the market uses almost exclusively silicon and aluminum for the cell. The only rare element in it is silver for the back contact, but it can be eliminated with minimal or no loss. In several other cases of renewable technologies, rare metals are not used or can be efficiently recycled. RESOURCE CRISIS: Renewable energy: does it need critically rare materials?
Excuse me, but how many hundreds of billions of dollars are invested in oil? How many portfolios would be effected if all of the sudden a government take over occurs and sinks company profits??
Exactly. Say goodbye to your pension or 401K.
The financial illiteracy on c-d is simply amazing.
Quote:
Who will bail out the average American with a 401K?
None of them have ever been able to answer that question.
Why would the government's taking ownership of oil companies do anything except redistribute profits from the oil barons to public works, services, social programs, etc.?
Oh, look... another Gruber who doesn't realize that corporate profits fund working Americans' pensions and retirement accounts.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
