Coffee Company

What if there was a vote to decide if $13.5 billion in tax breaks for oil companies should go into oil alternatives, like solar and wind? What would you want your Senator to do?

Well, as you probably guessed, there was such a vote. We needed 60 votes to prevail, and 59 of them were in. But John McCain ducked the vote.

As a result, instead of powering millions of homes with clean energy and building next-generation solar technology, we’re giving ExxonMobil and other companies billions in tax breaks at a time when they’re already making record profits.What say you?

The Federal Government already takes about 35 percent in royalties from the wells. That is before it is refined, delivered to the market and taxed again. Corporations do not pay taxes. It is passed on to the consumer. Obama complained that the oil companies make about $4000 a minute in profit. He neglected to mention that they pay about $14,000 a minute in taxes.

Tyler Suiters anchors this afternoon’s Clean Skies News Energy Report from Washington, DC.
On the program:- Union of Concerned Scientists call on US senators to pass climate change legislation as soon as possible.- While other oil companies are backing off, Exxon says its full speed ahead on new projects.- A cold wind is blowing through China as the country cuts back turbine production.- Los Angeles Department of Water and Power is now poised to pass a 5% rate increase on electricity use to promote solar and wind.
www.cleanskies.com

Duration : 0:9:17

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The goverment makes more money on taxes then the oil companies do on profits. The goverment regulations for dozen of local formulations cost us more then any proven benefit is worth.

cause everyone is sadly mistaken whos making the money

like how much money does a president or vice president in an oil company like Exxonmobil or another one of those large oil companies make? im doing a report on the oil corporations for school and i need help

Go to the "Key Executives" section at these websites:

http://finance.yahoo.com/q/pr?s=xom

http://finance.yahoo.com/q/pr?s=oxy

http://finance.yahoo.com/q/pr?s=cop

http://finance.yahoo.com/q/pr?s=cvx

June 2005
Nigeria’s lucrative oil reserves may have enriched its politicians but they’ve brought little but misery to ordinary people. Now, a rebel group is fighting for a share of the profits. “I need help. I need help,” begs a woman, clutching her young children in despair. Her home has just been demolished to create luxury housing for foreign oil workers. “The oil boom has turned into the oil doom!” laments Pastor Lekia. Across the Niger Delta, there’s growing resentment at the oil industry. “Corruption pervades the whole place, starting with the way contracts are awarded,” complains lawyer Ledum Mittee. “There seems to be some sort of collusion between the oil companies and those in power.” But militia leader Asari Dokubo has vowed to sever that link. He’s fighting to seize control of the oil and give it back to the people. “We own the oil!” he proclaims. “The thieves are the people in Abuja.” And across Nigeria, young men are flocking to his call. Last September, he spooked the international markets and forced the price of oil to $50 a barrel by threatening to attack foreign oil companies. The government was forced to agree a truce but he’s threatened to rearm unless oil companies leave. Nigerians no longer expect help from their own government. It’s militia leaders like Asari who are winning their trust.

Produced by ABC Australia
Distributed by Journeyman Pictures

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Or that oil companies pay the government more in taxes, than they keep in profits, which they add back on at the pump.
Thanks for adding that Che. I have forgotten most Americans don’t know the difference.
Most believe a $50 million return on a $1 billion investment is excessive, while a $50.00 return on $100.00 investment is terrible.

Probably because most people don’t know the difference. Exxon’s quarterly profit margin was almost 11 percent of their 390 billion dollar annual revenues. So no that isn’t a negative amount. What they should mention is the ratio of profits related to wells they own vs oil they import.

Suresh Mahadevan, HOR at UBS Securities is negative on oil marketing companies.

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The contract would clearly state that all new oil drilled would go straight into the American market. It can not be sold to any other countries. This contract would then be made into law and then we would give them the go ahead to drill.

Would oil companies agree to this?
The only people advocating nationalization of the oil companies are the republicans who think drilling for oil 8-10 years down the road will lower oil prices.

You guys are living in fantasy land. The only solution is conservation and alternative technology. It works in other countries, don’t know why it can’t work in America.

I agree, but they won’t. America first!

If you tax oil the oil companies will pass that tax on to the consumer raising gas prices. If you tax other companies more they also will pass that tax on to you, the consumer, making everything more expensive.
Also, raising taxes cost companies money which will make them shy away from hiring new employees and/or giving raises to current employees.
Do people just want the rich to PAY regardless of what that costs the average American?

It’s because the Leaders those people look to, are fools. What you said is spot on. ALSO when you tax them their profit on the books will be down creating less wealth for the company on the books making the dividend payments, payments to the stocks value go down or stay the same. That is making the investment in that company that you have NOT A GOOD INVESTMENT, forcing you to sell off, so that you can make money elsewhere. That forces the company to liquidate assets or borrow to cover the sell off making the company worth less and so on and so forth creating a downward spiral in their value. Many companies are experiencing this right now as reflected in the market. It is whats happening now. The market is below 8k from almost 15k. People don’t want to pay the increased taxes soon after jan 20th so they are swiftly reorganizing their portfolios.

I see a lot of dismay over pricing of gasoline, (a natural reaction), but not much about the effects of tighter environmental regulations, a myriad of different gasoline specifications, a shortage of US refining capacity and the substantial profits of the (crude oil producing) oil companies. Who listens to a balances analysis of the problems and solutions? Or is it a "follow the leader" and selfish mentality that rules?

Not at all.

My oil company investments are doing great because you drive so much.

Gasoline is still much cheaper than bottled water.