good news finally (bankruptcy, loans, union, complaint)
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So, your logic is that we should be giving tax breaks to large corporations to build up pension funds. And so they don't have to use their massive profits to reinvest in their companies future. Got it. Since I'm making money off Exxon stock and have a pension, again I thank you for your unflagging support.
So, your logic is that we should be giving tax breaks to large corporations to build up pension funds. And so they don't have to use their massive profits to reinvest in their companies future. Got it. Since I'm making money off Exxon stock and have a pension, again I thank you for your unflagging support.
who said that the oil companies don't use tax breaks for reinvestment?
you said that you have money in oil stock, not me, but i certainly don't have a problem with american investment for america's future.
i think we should do whatever it takes to make us energy independent so that we do not have to keep going into other countries to "protect the oil".
if that means tax breaks for american oil investment, i am totally fine with that. again, for the umpteenth time, if it means american tax breaks for foreign investment i am not okay with that.
lost revenue for the government is a great thing. but to me, the tax breaks represent an inequitable tax system. no business should be getting special tax breaks. the tax code should be simplified and be consistent across the board. the rates should also be lowered so the government gets less revenue not more.
lost revenue for the government is a great thing. but to me, the tax breaks represent an inequitable tax system. no business should be getting special tax breaks. the tax code should be simplified and be consistent across the board. the rates should also be lowered so the government gets less revenue not more.
these are the facts on the taxes that "big oil" pays the government:
Profits and income tax payments mirror the price of oil. In 1998 when the price was low, the industry paid just $733 million in federal and state income taxes. In 2006, with the real price of oil averaging over $63 per barrel, the industry paid a record $37 billion in corporate income taxes.
• Excise tax collections have grown steadily. Between 1981 and 2008, $1.1 trillion was collected in excise and sales taxes on petroleum products. In 1999 governments collected $59 billion, more than twice the industry’s net profits that year.
• In severance, property and so-called windfall profit taxes, the industry paid more than $472 billion between 1981 and 2008.
the more they pay, the more we will wind up paying.
now some not so good news. it looks like somebody is "fussing" with venezuela:
The head of Venezuela's state oil company said the United States can "go to hell" after it imposed economic sanctions on the firm for its ties to Iran.
"The imperialists can go to hell. Their sanctions mean nothing to us," Rafael Ramirez, head of Petroleos de Venezuela (PDVSA) and the country's energy and petroleum minister, said Wednesday. "No one is going to impose this kind of action against us. We do what best serves the people of Venezuela and what best serves the interests of the Venezuelan state."
The United States this past week imposed sanctions on PDVSA and six other companies it accused of supplying gasoline and petroleum products to Iran, AFP reported. By applying pressure on Iran's energy sector, the United States hopes to slow its nuclear enrichment program, allegedly aimed at developing nuclear weapons.
Venezuela had earlier expressed its "utmost rejection" of the "hostile" American sanctions. Foreign Minister Nicolas Maduro said he would determine the "appropriate reprisal" to the American move. Venezuela exports about 1 million barrels of oil a day to the United States. (the US uses about 20 million per day)
i wish our leaders would make up their minds. we just gave them 5 billion in aid, and last winter they gave oil to at least US states:
Jan. 11--AUGUSTA -- Venezuela has agreed to give Maine a cash donation of about $5.6 million to help low-income Mainers heat their homes this winter. Under the deal, announced Tuesday by Gov. John Baldacci, Venezuela will sell Maine the equivalent of 8 million gallons of discounted heating oil. Since Maine does not have a system to distribute the oil, Venezuela will simply give the state a check for the amount equivalent to 40 percent of the current retail price. The money will then be used to give an additional $100 in heating oil to the 48,000 Mainers enrolled in the Low Income Home Energy Assistance Program, or LIHEAP. The deal makes Maine the second U.S. state to accept help from Venezuela's state-owned oil company, which is essentially controlled by President Hugo Chavez, Latin America's harshest critic of U.S.-style capitalism.
does any of this money in either direction actually make it to the people???? it seems like we have a lot of foreign aid floating around and yet nobody is very happy with us.......
antiamerican sentiment seems to be rising in the mideast, israel tells us to pound sand, and venezuela calls us imperialists.
does anyone else think our foreign aid is either not going where it is supposed to go, or just wasted? how much fuel do we use fighting all these "wars", and how much does that increase our gas prices-based on supply and demand?
Last edited by floridasandy; 05-29-2011 at 12:55 PM..
at least some americans are going back to high paying jobs in this country.
now if we could get natural gas up and running, we might be going somewhere.
Good news for those in the gulf who havent had a job or home for the past 3 years. Venezuela has a great deal more oil reserves than we do, I doubt they care about sanctions from the U.S.
it isn't good news when our administration blocks oil drilling in our own country, and the ban has to be lifted by court order. can't you see what is happening?
i see that our action in libya has the intended consequence of libya awarding their future oil contracts to china:
National Oil Corporation Chairman Shukri GhanemTripoli: Libya is considering offering oil block contracts directly to China, India and other nations it sees as friends in its month-long conflict with rebels, Libya's top oil official said on Saturday.
Oil companies have pulled out staff and shut operations in the country, formerly Africa's third-largest producer, due to the uprising against Muammar Gaddafi's rule, leading to a sharp reduction in output.
National Oil Corporation Chairman Shukri Ghanem, speaking about future projects, said Libya was considering awarding contracts directly to new partners instead of using its more traditional open bidding process.
isn't it odd that all of these actions are designed to tighten our fuel supply and make americans pay more for their fuel in their own country?
wars increase our FOREIGN fuel usage.
sending our money to south america for their own oil development.
stopping drilling here.
antagonizing countries with oil with blockade actions (and wars)
not to mention the back door cap and trade agenda still on the table (for example, oil-producing Texas — the biggest carbon polluter — has refused to abide by federal guidelines on emissions, leading the Obama administration to take over its permit system).
hammering the evil "oil industry" for a couple of billion in tax deferral when we give ACORN a couple of billion a year. it is just designed to make us pay more for gas, since any increase is always passed onto the consumer. has it ever been any different?
you know our legislators can't understand at least half of the bills that they pass and most haven't even read them before they become law.
a country with restricted fuel use is a country which will be in decline.
just what a globalist would want, i would think.
Last edited by floridasandy; 05-30-2011 at 04:55 AM..
The Tax Foundation has received funding from Exxon Mobil and the Koch Family Foundations. Hardly credible or unbiased "facts".
Also, read carefully, I said "so they don't have to use their massive profits to reinvest in their companies future."
Funny how folks wanted the free market to deal with our financial system and GM and Chrysler, but that doesn't apply to oil companies.
Still, I thank you for shilling for my investments.
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