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Thank You "Big Oil "!  
User currently offlineAGM100 From United States of America, joined Dec 2003, 5407 posts, RR: 16
Posted (6 years 1 month 3 weeks 6 days 3 hours ago) and read 2550 times:

OK I have heard enough hate of "Big Oil "

Big oil, Finds it , drills for it .. pumps it out , ships it , refines it , blends it , moves it locally and makes 10% profit. Our government does nothing and makes 10% per gallon.


I love oil ! I use it all the time ,, it moves me and my family to school, church, vacations and we have a great life because of it. My fellow citizens should be proud that we in the US have the largest most powerful , innovative , high-tech oil companies. The oil companies have done a great job of getting the energy we need and putting it on just about every street corner so you can fill up anytime you need to.

Neither one of our Presidential candidates comprehend the situation ... both of them take the easy road of vilifying success . This is one American who is proud of the success of our energy industry ... its the finest ever.

And if you dont agree...... WALK.


You dig the hole .. I fill the hole . 100% employment !
72 replies: All unread, showing first 25:
 
User currently offlineMt99 From United States of America, joined May 1999, 6598 posts, RR: 6
Reply 1, posted (6 years 1 month 3 weeks 6 days 2 hours ago) and read 2516 times:
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Quoting AGM100 (Thread starter):

And if you dont agree...... WALK.

Or use public transportation..

The fact that oil is good.. Yes i agree with you.. But how does that translate for us a society not become more efficient as a whole?

Why settle for a 13mpg car, when a 30mpg car can be engineered? Why settle for analog TV when you can have HDTV? Why settle for a 56.6 Modem, when you can have a T1 line?

You sound so un-American.



Step into my office, baby
User currently offlineNational757 From United States of America, joined Jul 2007, 720 posts, RR: 1
Reply 2, posted (6 years 1 month 3 weeks 6 days 1 hour ago) and read 2493 times:

Thank you Big Oil for:

Suppressing alternative energy sources
Encouraging automakers to build inefficient vehicles
Lobbying Congress to add loopholes to any MPG mandate
Increasing air and water pollution
Directly increasing the wealth and influence of extreme regimes in the Middle East
Indirectly causing Urban Sprawl and contributing to the ever increasing waistlines of Americans

Thanks!



Formula 1 Grand Prix Trips: YUL '08, MEL '09, BCN '10, SIN '11, and LGW '12
User currently offlineAGM100 From United States of America, joined Dec 2003, 5407 posts, RR: 16
Reply 3, posted (6 years 1 month 3 weeks 6 days 1 hour ago) and read 2476 times:



Quoting Mt99 (Reply 1):
The fact that oil is good.. Yes i agree with you.. But how does that translate for us a society not become more efficient as a whole?

No problem with that and I for one have done it as much as possible. Not to save the planet , not to hurt OPEC or XOM . I did it because if you are a intelligent human being you should always strive for efficiency so that you save more hard earned dollars. I do not drive Hybrids but I do drive economical cars.

Mt99 , their are many models on the market now that get close to 30mpg.

Quoting Mt99 (Reply 1):
T1 line?

T1 Line ! man I have not heard that since like 2001 !  Big grin



You dig the hole .. I fill the hole . 100% employment !
User currently offlineTugger From United States of America, joined Apr 2006, 5627 posts, RR: 8
Reply 4, posted (6 years 1 month 3 weeks 6 days 1 hour ago) and read 2468 times:



Quoting AGM100 (Thread starter):
My fellow citizens should be proud that we in the US have the largest most powerful , innovative , high-tech oil companies.

Not to knock your comment the the USA's oil companies are probably the best in the world. But an interesting point to note is that most of these "big oil" companies are dependent on the "oil services" companies to actually "find it", "drill it" and"pump it out".

And the largest oil service company is Schlumberger, originally a French company that is now incorporated in the Netherlands Antilles. There are many, many more but these are the "grunts" of the oil industry that have the expertise, equipment, and skilled people to actually get the oil up:

"Schlumberger Limited is the world's largest oilfield services corporation operating in approximately 80 countries, with about 80,000 people of 140 nationalities. Schlumberger supplies a wide range of products and services from seismic acquisition and processing; formation evaluation; well testing and directional drilling to well cementing and stimulation; artificial lift and well completions; and consulting, software and information management."

Quoting AGM100 (Thread starter):
government does nothing and makes 10% per gallon.

Ummm, goverment DOES do something. It provides the framework for the stable society that consumes the oil and that stable society ensures the continued viability of said oil companies. Why do think business all around the world LOVES the USA?

Just something to chew on.....

Tugg



I don’t know that I am unafraid to be myself, but it is hard to be somebody else. -W. Shatner
User currently onlineFlighty From United States of America, joined Apr 2007, 8568 posts, RR: 2
Reply 5, posted (6 years 1 month 3 weeks 6 days 1 hour ago) and read 2451 times:



Quoting National757 (Reply 2):
Suppressing alternative energy sources
Encouraging automakers to build inefficient vehicles
Lobbying Congress to add loopholes to any MPG mandate
Increasing air and water pollution
Directly increasing the wealth and influence of extreme regimes in the Middle East
Indirectly causing Urban Sprawl and contributing to the ever increasing waistlines of Americans

Thanks!

Could not have said it better!

They should also get a PhD for "hiding profits to make it seem like they have a 10% profit margin" which is also, incidentally, one if the high points of American comedy along with Richard Pryor, Steve Martin, Emo, and that Dane guy.

"We only make 10% profit margins...." say their financial reports.... LOL I almost die laughing each time they say it! It sounds so real, absolutely hilarious. Someone give them a medal, I have never heard something that funny in years. "We had $10 billion of miscellaneous costs..." AHAHAHAHAHA Big Oil, you've done it again. Priceless.

Who knew the American accounting system would be the medium for such ribald comic shennanigans?


User currently offlineMt99 From United States of America, joined May 1999, 6598 posts, RR: 6
Reply 6, posted (6 years 1 month 3 weeks 6 days 1 hour ago) and read 2448 times:
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Quoting AGM100 (Reply 3):

T1 Line ! man I have not heard that since like 2001 !

LOL.. Touche!

Quoting AGM100 (Reply 3):
not to hurt OPEC or XOM

How about eating big macs only - that way you will not hurt McDonald at your own detriment?

Same logic no?



Step into my office, baby
User currently offlineRevelation From United States of America, joined Feb 2005, 12589 posts, RR: 25
Reply 7, posted (6 years 1 month 3 weeks 6 days 1 hour ago) and read 2438 times:



Quoting AGM100 (Thread starter):
I love oil ! I use it all the time ,, it moves me and my family to school, church, vacations and we have a great life because of it.

Maybe your kids life won't be so great, with their reliance on the whims of foriegn nations, bloody wars fought in persuit of oil, massive air pollution and global warming.

Quoting National757 (Reply 2):
Thank you Big Oil for:

Suppressing alternative energy sources
Encouraging automakers to build inefficient vehicles
Lobbying Congress to add loopholes to any MPG mandate
Increasing air and water pollution
Directly increasing the wealth and influence of extreme regimes in the Middle East
Indirectly causing Urban Sprawl and contributing to the ever increasing waistlines of Americans

Doubling the price of your main product so we can all have a good debate about our future
Doubling the price of your main product so clean alternatives become more feasible
Doubling the price of your main product so the politicians in your pockets get voted out



Inspiration, move me brightly!
User currently offlineBeaucaire From Syria, joined Sep 2003, 5252 posts, RR: 25
Reply 8, posted (6 years 1 month 3 weeks 6 days 1 hour ago) and read 2434 times:

..in the meantime oil has dropped to 116 $...(at least one hour ago..)


Please respect animals - don't eat them...
User currently offlineDfwRevolution From United States of America, joined Jan 2010, 978 posts, RR: 51
Reply 9, posted (6 years 1 month 3 weeks 6 days 1 hour ago) and read 2420 times:



Quoting Mt99 (Reply 1):
Why settle for a 13mpg car, when a 30mpg car can be engineered?

Because millions of Americans can afford to drive such a vehicle and enjoy doing so. Build the same vehicle without any compromises at 30 mpg and consumers would buy it.


User currently offlineAGM100 From United States of America, joined Dec 2003, 5407 posts, RR: 16
Reply 10, posted (6 years 1 month 3 weeks 6 days 1 hour ago) and read 2418 times:



Quoting Mt99 (Reply 6):
Same logic no?

My point was that I drive efficient vehicles to protect my money , not to hurt any business. It's personal responsibility , not some citizen of the world movement.

Quoting Tugger (Reply 4):
big oil" companies are dependent on the "oil services" companies to actually "find it", "drill it" and"pump it out".

Still factors into the cost per barrel , and the major oil companies spend alot of money contracting exploration and drilling operations as well.
[

Quoting Tugger (Reply 4):
"Schlumberger Limited is the world's largest oilfield services corporation operating in approximately 80 countries, with about 80,000 people of 140 nationalities.

O ya , love that ( SLB ) its a great company . I did not mean to imply that the international companies were inferior... they are not. Its funny I do not here them talked about much in the press .. its usually American companies.

Quoting Revelation (Reply 7):
Maybe your kids life won't be so great, with their reliance on the whims of foriegn nations, bloody wars fought in persuit of oil, massive air pollution and global warming.



Well my friend I will be in line on the day that I can go buy a car that I dont need to put gas into.



You dig the hole .. I fill the hole . 100% employment !
User currently offlineMt99 From United States of America, joined May 1999, 6598 posts, RR: 6
Reply 11, posted (6 years 1 month 3 weeks 6 days ago) and read 2408 times:
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Quoting DfwRevolution (Reply 9):
Because millions of Americans can afford to drive such a vehicle and enjoy doing so. Build the same vehicle without any compromises at 30 mpg and consumers would buy it.

You do'nt have to compromise. That is where American ingenuity, know how and technology comes in. I mean, you are not doubting that it exists ..right?



Step into my office, baby
User currently offlineMt99 From United States of America, joined May 1999, 6598 posts, RR: 6
Reply 12, posted (6 years 1 month 3 weeks 6 days ago) and read 2398 times:
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Quoting Beaucaire (Reply 8):
..in the meantime oil has dropped to 116 $...(at least one hour ago..)

Who hoo!!!.. Bring on the Hummers, Tahoes!!!

It cant be like that anymore. I think we as as society have turned a corner of sorts. I believe that the close call of $5/gallon gas struck a chord with the general public and scared us.

So even if the price of oil goes down to below $100, i would expect calls for conservation and fuel economy and "green" energy to continue. To a point we got "scared straight".



Step into my office, baby
User currently offlinePPVRA From Brazil, joined Nov 2004, 8964 posts, RR: 39
Reply 13, posted (6 years 1 month 3 weeks 6 days ago) and read 2373 times:

Quoting National757 (Reply 2):
Suppressing alternative energy sources
Encouraging automakers to build inefficient vehicles
Lobbying Congress to add loopholes to any MPG mandate

Animistic fallacy. Look it up.

Quoting National757 (Reply 2):
Increasing air and water pollution

It's not their fault, it's us who want/need oil.

Quoting National757 (Reply 2):

Directly increasing the wealth and influence of extreme regimes in the Middle East

How is this their fault? They are only in business because we need them.

Quoting National757 (Reply 2):

Indirectly causing Urban Sprawl and contributing to the ever increasing waistlines of Americans

Ah hell no, that is ENTIRELY the fault of government non-stop building of "freeways". And yes, the "free" does matter too.

So much for politicians having such a keen future view. We need them to plan for the future, right?? Good thing they completely know what they are doing.

[Edited 2008-08-05 13:16:23]


"If goods do not cross borders, soldiers will" - Frederic Bastiat
User currently offlineNighthawk From UK - Scotland, joined Sep 2001, 5157 posts, RR: 33
Reply 14, posted (6 years 1 month 3 weeks 6 days ago) and read 2362 times:



Quoting Tugger (Reply 4):

"Schlumberger Limited is the world's largest oilfield services corporation operating in approximately 80 countries, with about 80,000 people of 140 nationalities. Schlumberger supplies a wide range of products and services from seismic acquisition and processing; formation evaluation; well testing and directional drilling to well cementing and stimulation; artificial lift and well completions; and consulting, software and information management."

Dont get me started on Schlumberger! The gits are building a large tower next to their factory, and it blocks my view of ABZ runway :@ . Oh, and their downhole guages suck too  Silly

I'd like to thank big oil too. Without them I wouldnt be living free of charge in a 4 bedroom house, raking up expenses. Big grin

So i'd also like to raise a glass to Big Oil.



That'll teach you
User currently offlineTylerdurden From United States of America, joined May 2008, 852 posts, RR: 0
Reply 15, posted (6 years 1 month 3 weeks 6 days ago) and read 2347 times:

Actually, my oil and gas royalties have been paying big time this year...
And I made more than a few nickels on the speculation market..
So, really, thank you, big oil...


Oh, and my very smart broker!


User currently offlineAGM100 From United States of America, joined Dec 2003, 5407 posts, RR: 16
Reply 16, posted (6 years 1 month 3 weeks 5 days 23 hours ago) and read 2323 times:



Quoting Tylerdurden (Reply 15):
Actually, my oil and gas royalties have been paying big time this year...

I was not positioned very well, although I did have XTO at 31.. sold off @ 62.00 that was the best hit I had.  praise  thank you...

I was holding Devon (DVN) for a while , but bought in and out at the wrong time A big negative KKaching !

How about a stock tip their Tyler  bitelip  ,, are you buying into the Diamond off shore ? (DO) I have my finger on the trigger but just cant pull it yet. I think it may be hold for a bit until things settle,



You dig the hole .. I fill the hole . 100% employment !
User currently offlineScbriml From United Kingdom, joined Jul 2003, 12570 posts, RR: 46
Reply 17, posted (6 years 1 month 3 weeks 5 days 23 hours ago) and read 2311 times:
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Quoting National757 (Reply 2):
Suppressing alternative energy sources
Encouraging automakers to build inefficient vehicles
Lobbying Congress to add loopholes to any MPG mandate
Increasing air and water pollution
Directly increasing the wealth and influence of extreme regimes in the Middle East
Indirectly causing Urban Sprawl and contributing to the ever increasing waistlines of Americans

You could be more wrong, but not a lot.

Quoting Flighty (Reply 5):
"We only make 10% profit margins...." say their financial reports.... LOL I almost die laughing each time they say it!

Why not share some of your obvious financial expertise and explain how they cook their books. I'm intrigued.



Time flies like an arrow, but fruit flies like a banana!
User currently offlineTylerDurden From United States of America, joined May 2008, 852 posts, RR: 0
Reply 18, posted (6 years 1 month 3 weeks 5 days 22 hours ago) and read 2293 times:



Quoting AGM100 (Reply 16):
How about a stock tip their Tyler

Buy low....sell high!
 Smile

If I seriously knew how to do it myself...I wouldn't have a broker.

I bought into oil and gas wells at the tender age of 25..near Port Lavaca. It's taken four years to get three productive wells drilled.

The big windfall will be in about 60 days....since they pay 90 days after pumping.....
Kinda wish I held out for the expensive car!

Good Luck.


User currently onlineFlighty From United States of America, joined Apr 2007, 8568 posts, RR: 2
Reply 19, posted (6 years 1 month 3 weeks 5 days 22 hours ago) and read 2284 times:



Quoting Scbriml (Reply 17):
Why not share some of your obvious financial expertise and explain how they cook their books. I'm intrigued.

Since I've been inside a few companies before, I know it's possible to report profits when you have none. This is known as creative profit enhancing accounting practices. It's extremely common.

What is less common, is a desire and need to hide tremendous huge profit windfalls. You expense huge amounts paying down future infrastructure. You pay off old debts early. You do everything possible to avoid showing taxable profits, which of course go partly to the government.

ExxonMobil, and the rest employ top notch accountants. It is not illegal to smooth profits. But a wide range of profit-smoothers can go into any particular industry. You sink money in today that will give unnatural stability in future years. The point is, you can say you paid outside amounts for goods and services just to claim the money is gone. This is largely what oil companies are doing -- "investing" billions in the future. Except the financial accounting for these investments is made to look as unprofitable as possible for the present period. This is all so oil execs can go on TV and say "our costs have skyrocketed and we're not that profitable." This is pure creative accounting. In times of struggle, they would pull from this magical equity they have been pouring investment into during these fat years.

When a firm makes too much money, there are all kinds of ways to avoid booking those profits... if that is truly their desire. It's unusual. But it's exactly what is happening here. Their motivation is to hide profits. There are a million ways to do it legally. THerefore that is exactly what they are doing. An oil professional could offer more insight.


User currently offlineAirStairs From United States of America, joined Jul 2008, 487 posts, RR: 0
Reply 20, posted (6 years 1 month 3 weeks 5 days 22 hours ago) and read 2276 times:

I am interested to hear what big-oil bashers would propose to do if the oilmen CEOs and engineers and seismologists and service companies decided to close up shop, refusing permanently to reenter the industry and taking all of their supply chains and discovery and extraction technology and resources with them? Since they are allegedly the pollution problem they could just as easily become the remedy by ceasing operations altogether and I have no doubts that most have a comfy nest egg, IRA and a country house. There is no glut of experienced American geoscientists and new equipment and distribution infrastructure would take years if not decades to recreate. Small oil firms would not have the economies of scale to price it any cheaper than big firms do.

We can't reasonably maintain our obscene standards of living in the United States without lots of oil moving through advanced and high-input supply and value-added chains and yet somehow our expectations become the fault and doing of the supplier. If you don't like the business you are free to stick it to them all and close your wallet: that you are on a computer indicates that opting out is still too high a price to pay for those ideals, which is fine, but don't pretend that the decision is not entirely yours to make.

Quoting National757 (Reply 2):
Increasing air and water pollution

This is entirely the decision of the consumer. Maybe you should be thanking Henry Ford and subsequent assembly-line manufacturers and urban planners for the dependence on automobiles. Barring the spill or accident that is uncommon by any standard, the corporation has a much smaller hand in air and water pollution than the consumer does.

Quoting Flighty (Reply 5):
"We only make 10% profit margins...." say their financial reports....

I am not sure what sound evidence you can provide for their cooking of the books; but, you write like it is some kind of crime to maximize your margins. It is not in any other industry or sector and would undermine the principles of entrepreneurship if it were.

Quoting Tugger (Reply 4):
And the largest oil service company is Schlumberger, originally a French company that is now incorporated in the Netherlands Antilles.



Quoting AGM100 (Reply 10):
O ya , love that ( SLB ) its a great company . I did not mean to imply that the international companies were inferior... they are not. Its funny I do not here them talked about much in the press .. its usually American companies.

True that Schlumberger is incoporated in the Antilles, but it is essentially now an American company headquartered in and operating from Houston.  bigthumbsup 


User currently offlineStarAC17 From Canada, joined Aug 2003, 3382 posts, RR: 9
Reply 21, posted (6 years 1 month 3 weeks 5 days 21 hours ago) and read 2247 times:



Quoting National757 (Reply 2):
Suppressing alternative energy sources

For the cynic there is no question they have done this but they are innocent until proven guilty. But if they are guilty it should go down as one of the most anti-capitalist white collar crimes and the boards of all 5 big oil compainies should go to jail.

Quoting National757 (Reply 2):
Encouraging automakers to build inefficient vehicles

No Proof, and the automakers shot themselves in the foot for being shortsighted. So do you think they will still listen to Exxon now

Quoting National757 (Reply 2):
Lobbying Congress to add loopholes to any MPG mandate

True but its our fault for electing corrupt scum to serve them and not the people.

Quoting National757 (Reply 2):
Increasing air and water pollution

Any industry does this, big oil are better now but they used to be a lot worse.

Quoting National757 (Reply 2):
Directly increasing the wealth and influence of extreme regimes in the Middle East

Its not just the US that needs oil they would have gotten Rich from some other country (cough India and China).

Quoting National757 (Reply 2):
Indirectly causing Urban Sprawl and contributing to the ever increasing waistlines of Americans

Urban Sprawl was desired by the people and seen as the American Dream per say and it the fault of the person for being overweight (in most cases).

I think these companies have operated in an ethical manner but the cynic in me believes sometimes that they are all participating in accounting scandals to falsify their statement of earnings and balance sheets in order to increase their costs to make their profit margins lower than they actually are.

This is because if the public discovered that they were making 30% of each gallon of gas sold then they would be hell to pay.

But I have no basis for this anyways.



Engineers Rule The World!!!!!
User currently offlineAaron747 From Japan, joined Aug 2003, 8164 posts, RR: 26
Reply 22, posted (6 years 1 month 3 weeks 5 days 21 hours ago) and read 2237 times:



Quoting Flighty (Reply 19):
When a firm makes too much money, there are all kinds of ways to avoid booking those profits... if that is truly their desire. It's unusual. But it's exactly what is happening here. Their motivation is to hide profits. There are a million ways to do it legally. THerefore that is exactly what they are doing. An oil professional could offer more insight.

Either point to some evidence or stop posting this malarkey. These are publicly held companies and hiding profits doesn't do them any bit of good at all, not to mention it saddles executive bonus packages. The 10-12% margin figure is accurate for most large oil companies, in some cases it's more and in some cases it's less. There are actual numbers to back that up, where are yours?

Instead of focusing on the very real issues of energy independence and alternatives for the future, you distract from them with this pointed garbage about book-cooking at Big Oil.  Yeah sure



If you need someone to blame / throw a rock in the air / you'll hit someone guilty
User currently onlineFlighty From United States of America, joined Apr 2007, 8568 posts, RR: 2
Reply 23, posted (6 years 1 month 3 weeks 5 days 21 hours ago) and read 2237 times:



Quoting AirStairs (Reply 20):
I am not sure what sound evidence you can provide for their cooking of the books; but, you write like it is some kind of crime to maximize your margins. It is not in any other industry or sector and would undermine the principles of entrepreneurship if it were.

This is a case where lying, and breaking the law, are 2 different things. The oil companies could be "unprofitable" today if they just extended their tactics just a bit further. But nobody would believe them. So, like many companies, they are employing "profit management" or "profit smoothing" to craft a profit number that seems reasonable (yet thin) to the casual observer. The true operational mechanics are known only to a few people.

It is all about impressions. Oil companies know they must report very healthy profits. Yet, they are also majorly inflating costs so they can re-shuffle some of this "blank money" around into little nests here and there, rainy day money if you will. It is perfectly legal.

I will give an example in the airline business. If you are making big profits, you can buy additional airplanes, or accelerate your payment schedule. You can fudge depreciation a little bit. Voila, your costs went up. If you want that money back? You can sell the equity in those airplanes to someone else, like IFLC. Airlines have done this since time immemorial. It is all about "operating costs," which is a black box that only company insiders can really discern. That's where all the magic happens. Funny enough, today's oil profit discussions often revolve around these remarkable "operating costs" the oil companies seem to be booking lately!


User currently onlineFlighty From United States of America, joined Apr 2007, 8568 posts, RR: 2
Reply 24, posted (6 years 1 month 3 weeks 5 days 21 hours ago) and read 2231 times:



Quoting Aaron747 (Reply 22):
Either point to some evidence or stop posting this malarkey. These are publicly held companies and hiding profits doesn't do them any bit of good at all, not to mention it saddles executive bonus packages.

Well, I am not citing sources. This is not scholarly reading, and for that I apologize. My name is Flighty, an anonymous internet poster. I am stating normal realities about P&L and what goes into it. There is a ton of leeway. It is an art form. If you feel that's not the case, I will gladly accept YOUR anonymous internet posting to that effect.


25 Post contains links N1120A : This guy already has. http://www.saeenergy.com/ Um, not nearly as many can afford driving such anymore.
26 DocLightning : Yup. And destroying the environment. And then, when there's an issue with oil...we all get screwed. Thanks, Big Oil. I can't wait until the day you g
27 STT757 : Funny thing I saw this weekend while in Washington DC, I was at a Nationals game with my brother Friday night (Nationals finally broke a nine game los
28 AirStairs : You would rather corporations simply not go through the expensive process of exploration, drilling and distributing oil and refined products at all?
29 Max550 : Except for build the roads we drive on to use the oil. Regulating the oil companies so we don't have environmental disasters. Funding and regulating
30 StarAC17 : Hiding Profits give them a huge PR benefit, the oil companies on the most part can get away with saying that they are getting screwed by OPEC and the
31 Revelation : Not to mention paying for the most expensive military in the world to protect the "vital national interests" which "coincedentally" happen to coincid
32 Zone1 : Refining oil is not as profitable as you might think. Because most of the US oil companies have to buy much of their oil on the open market, their ma
33 Scbriml : Is any of this illegal? Their accounts are all audited and published. Nothing they do can't be done by anyone else, so what exactly are you accusing
34 Post contains links Baroque : Then again you are reading US press. First oil wells probably drilled in Baku 1848 and in Poland 1854 not PA in 1859 (Canada first 1857). As has been
35 AGM100 : My point was only that taxes increase the costs of oil.... You are absolutely correct in your point , I am not suggesting that should not be taxed. E
36 Seb146 : So, because the profit margin only shows 10%, we Americans should not be pissed off? That is what I always hear and it maked me cringe. That 10% profi
37 Revelation : A windfall profits tax will not increase the cost of oil. It will give the oil company accountants an incentive to do more of what was mentioned earl
38 Baroque : You might find that the Dutch think they own a bit of Shell, although there is (or used to be) a Shell USA. The majors have brought positives and som
39 StarAC17 : What margin would you be happy with? If you ever decide to invest in Mutual Funds or by Energy stocks then a margin of less than 8-10% would be meani
40 Post contains links Scbriml : Phillips has grown from a struggling small independent run by oilmen, through various acquisitions and mergers, to ConocoPhillips, one of the big boy
41 Baroque : Ekofisk is all sort of amazing things. Including being produced from the Cretaceous chalk for more than 7 years under the incorrect impression that t
42 Seb146 : I have not seen anyone complaining about the 10% figure. I see people complaining about $11 billion in three months. If big oil were doing something
43 AGM100 : Seb would you cringe if the oil companies lost money and were laying people off? The way I see it is that it will cycle back down like it was up to 2
44 Flighty : I am not an accountant, nor a lawyer. Although I have friends and a healthy interest. So don't take me as stating notable facts. Instead, I am arguin
45 Revelation : So maybe the Feds should let XOM hire their own army to guard their oil wells and their own Navy to guard their tankers? Yes, XOM already pays a lot
46 Baroque : Ummm, a number of companies do hire out an army in a number of countries. I will point if you look. Sometimes it is the national army and sometimes,
47 AirStairs : Why should we Americans be pissed off if XOM showed a margin of 90%? Why should we be pissed of if it reports earnings of $111 billion? There is simp
48 StarAC17 : I think this is because $11 billion is very hard for the average person to comprehend even though it is only 10% of their revenue, the same can be sa
49 Seb146 : Like Iraq? I would like to know how much they really make. How much do they pull in before the accountants decide to write out billions and billions
50 Baroque : As I said, introduce tax imputation. Then you will most likely find out.
51 Post contains links StasisLAX : NYMEX Oil Futures closed at $120.02 per barrel today. So what's the answer? We keep talking about hybrid electric power for cars, and more alternative
52 Pyrex : Not to mention building all the infrastructure where said oil is spent (roads, ports, airports, etc.) and paing for the clean-up when things turn nas
53 Revelation : First things first: let's get our army and navy back. We keep saying the best way to improve other people's living standards is through trade, but it
54 Baroque : Sadly true. And exploitation of mineral resources can be worse again. I watched a close neighbour of ours go from not so good to near total collapse
55 AGM100 : That could be said about any company I guess , like Microsoft who show a 2007 profit of near $12 billion. I will assume though that the Fed has many
56 Seb146 : That is $1 billion per month. Compared to Exxon who made over $3.5 billion per month. I see oil as near a monopoly as can be, unlike Microsoft. With
57 AGM100 : You are correct , but XOM and the majors have more recources to get it. It is all about being the big guy on the block I guess. [ Seb I deal with acc
58 Post contains links Baroque : Well the trick is to give them LESS incentive to do so. I doubt if it would be possible to give them no incentive, but the US system does seem to pro
59 PC12Fan : Higher prices for virtually everything that is transported. Something along the lines of of the head is appropriate.
60 F9Animal : Let me add.......... Thanks Exxon for fighting in court your disaster you created with the Exxon Valdez. Thanks for trying so hard to get out of payi
61 Scbriml : You cannot be serious! Microsoft has one of the biggest de-facto monopolies on the planet. No oil company gets close to Microsoft's market share. Mic
62 Baroque : Well observed, and this does not even go near the really obscene profit margins in the financial markets.
63 AGM100 : I have not found the actual data yet , but a commentator on Cavuto claimed that XOM pays more taxes combined than everyone in the US who earns less th
64 Seb146 : No. People have a choice to use Linux or Mac or Windows. Very few people have a choice to use oil or not. My partner and I, for example, do not have
65 Baroque : It does work to an extent. We effectively have a flat 10 GST on revenues, except that GST we pay on inputs is deducted so the net is less than 10%, a
66 Post contains links Scbriml : Yes, there is some choice but you have to work really hard to find it. However, if you don't think Microsoft has a de-facto monopoly on desktop opera
67 Nighthawk : You have a choice on what career to do though - if you dont like using oil then ditch the pickup and get a job in the local restaurant and walk to wo
68 Flighty : Very well said. Also, no one can run a major business without Windows... I saw this as an avowed Mac and Linux fan and user. Microsoft Windows is nec
69 Baroque : Alas you write the truth Flighty. Which makes life difficult, cos I still use Lotus and have to translate, and the graphics do not translate at all w
70 Scbriml : Huh? Lotus is, like, so last century dude!
71 Seb146 : Because of circumstances I would rather not discuss on a public forum, I actually do better doing yard and fence work than working in an office or re
72 Scbriml : An interesting choice. You do know that ARCO is owned by BP don't you?
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