Who's a tool of Fossil Fuel?

flacaltenn

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Boy am I proud of that thread title.. :eusa_whistle:


Morano Smacks Down Sierra Club Director: ?Sierra Club Took 26 Million From Natural Gas? | NewsBusters


For years, climate alarmists have dishonestly accused global warming skeptics of taking money from Big Oil to do their bidding.

On CNN’s 11th Hour Tuesday, when Sierra Club executive director Michael Brune made such a claim, Climate Depot’s Marc Morano marvelously fired back, “The Sierra Club took 26 million from natural gas and Michael has the audacity to try to imply that skeptics are fossil fuel funded” (video follows with transcript and commentary):



Read more: Morano Smacks Down Sierra Club Director: ?Sierra Club Took 26 Million From Natural Gas? | NewsBusters
Next time someone claims I'm on the ole Big Fossil payola --- this link is what they're gonna get..
:eek:
 

Mr. H.

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Maybe that is why the Sierra Club has spoken disparagingly of eagle deaths by the mighty blades of green.

BTW, I AM on the Big Fossil payola. And proud of it. :thup:
 
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flacaltenn

flacaltenn

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I was betting you'd be among the first to check in.. :lol:

Were they desparate for the cash? Or do they have no sense of the great leftist wrath that befalls any
beneficiary of fossil largess?
 
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flacaltenn

flacaltenn

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Maybe that is why the Sierra Club has spoken disparagingly of eagle deaths by the mighty blades of green.

BTW, I AM on the Big Fossil payola. And proud of it. :thup:
Must be very cool to be able to damn any fool that takes your money..
Got any for me? I could be a "tool of fossil fuel" for a price..
:eek:
 

Mr. H.

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I was betting you'd be among the first to check in.. :lol:

Were they desparate for the cash? Or do they have no sense of the great leftist wrath that befalls any
beneficiary of fossil largess?
The article states that the donations were made between 2007 and 2010, primarily from the CEO of Chesapeake for Sierra Club's "Beyond Coal" campaign. My guess is that it was intended to call their attention to the benefits of natural gas over coal, which we have seen through measurable reductions in C02 emissions over the years BECAUSE of the increased use of natural gas. The SC ultimately turned down further pledges which I'm sure was purely for PR reasons. Gotta keep up the front y'know. :cool:

But that's a good video. Nice smackdown. :thup:
 

Mr. H.

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Maybe that is why the Sierra Club has spoken disparagingly of eagle deaths by the mighty blades of green.

BTW, I AM on the Big Fossil payola. And proud of it. :thup:
Must be very cool to be able to damn any fool that takes your money..
Got any for me? I could be a "tool of fossil fuel" for a price..
:eek:
LOL. Well, I spend at least a quarter million each year just to keep the doors open and the lights on.

95% of what I take out of the ground is salt water. It's that 5% that floats to the top that pays the bills. Regardless of the price of crude, my costs remain constant and many even increase. And I have no mechanism for passing along those increases in costs.

For 64 years we've been continually depleting our asset base. Just as a farmer is allowed to depreciate his assets such as tractors and other equipment, I'm allowed to depreciate my depleting asset. That tax provision has been a part of the Code for 100 years. It's called the Depletion Allowance.

And just as the farmer is allowed to write off his input costs such as labor, fertilizers, herbicides, and pesticides... I'm allowed to write off my similarly "intangible" input costs. This also has been a part of the Tax Code for decades. It's called "Intangible Drilling Costs".

That said, Obama and fellow Lefties are on a witch hunt of sorts. They are singling out my company and thousands like me to disallow Depletion and IDC's. Why? Because they are labeled "subsidies". The farmer, according to the 'Tards, is safe with Depreciation and Intangible costs. For some reason, those are not considered "subsidies". The same applies to a myriad of other industries. Just not the oil and gas industries.
 
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flacaltenn

flacaltenn

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Maybe that is why the Sierra Club has spoken disparagingly of eagle deaths by the mighty blades of green.

BTW, I AM on the Big Fossil payola. And proud of it. :thup:
Must be very cool to be able to damn any fool that takes your money..
Got any for me? I could be a "tool of fossil fuel" for a price..
:eek:
LOL. Well, I spend at least a quarter million each year just to keep the doors open and the lights on.

95% of what I take out of the ground is salt water. It's that 5% that floats to the top that pays the bills. Regardless of the price of crude, my costs remain constant and many even increase. And I have no mechanism for passing along those increases in costs.

For 64 years we've been continually depleting our asset base. Just as a farmer is allowed to depreciate his assets such as tractors and other equipment, I'm allowed to depreciate my depleting asset. That tax provision has been a part of the Code for 100 years. It's called the Depletion Allowance.

And just as the farmer is allowed to write off his input costs such as labor, fertilizers, herbicides, and pesticides... I'm allowed to write off my similarly "intangible" input costs. This also has been a part of the Tax Code for decades. It's called "Intangible Drilling Costs".

That said, Obama and fellow Lefties are on a witch hunt of sorts. They are singling out my company and thousands like me to disallow Depletion and IDC's. Why? Because they are labeled "subsidies". The farmer, according to the 'Tards, is safe with Depreciation and Intangible costs. For some reason, those are not considered "subsidies". The same applies to a myriad of other industries. Just not the oil and gas industries.
It IS a witch hunt.. Pure and simple.. I depreciate anything with an asset tag and deduct FULLY all materials that go out into prototypes and client deliverables.. We even depreciate CAD design tool software which can run close to $10K per seat.

The only way you get persecuted is the massive economic and biz ignorance of the leftist hordes that don't understand standard biz practices.. They can CLAIM you are especially blessed by the general rules of tax accounting.

You can change the rules GLOBALLY --- but singling out one business is just petty horsecrap.
 

Mr. H.

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Must be very cool to be able to damn any fool that takes your money..
Got any for me? I could be a "tool of fossil fuel" for a price..
:eek:
LOL. Well, I spend at least a quarter million each year just to keep the doors open and the lights on.

95% of what I take out of the ground is salt water. It's that 5% that floats to the top that pays the bills. Regardless of the price of crude, my costs remain constant and many even increase. And I have no mechanism for passing along those increases in costs.

For 64 years we've been continually depleting our asset base. Just as a farmer is allowed to depreciate his assets such as tractors and other equipment, I'm allowed to depreciate my depleting asset. That tax provision has been a part of the Code for 100 years. It's called the Depletion Allowance.

And just as the farmer is allowed to write off his input costs such as labor, fertilizers, herbicides, and pesticides... I'm allowed to write off my similarly "intangible" input costs. This also has been a part of the Tax Code for decades. It's called "Intangible Drilling Costs".

That said, Obama and fellow Lefties are on a witch hunt of sorts. They are singling out my company and thousands like me to disallow Depletion and IDC's. Why? Because they are labeled "subsidies". The farmer, according to the 'Tards, is safe with Depreciation and Intangible costs. For some reason, those are not considered "subsidies". The same applies to a myriad of other industries. Just not the oil and gas industries.
It IS a witch hunt.. Pure and simple.. I depreciate anything with an asset tag and deduct FULLY all materials that go out into prototypes and client deliverables.. We even depreciate CAD design tool software which can run close to $10K per seat.

The only way you get persecuted is the massive economic and biz ignorance of the leftist hordes that don't understand standard biz practices.. They can CLAIM you are especially blessed by the general rules of tax accounting.

You can change the rules GLOBALLY --- but singling out one business is just petty horsecrap.
LOL not sure what all that is you said. All I know is that Obama is out to fuck my ass hard. In the ass, up the ass and throughout the ass. So help me God.
 
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flacaltenn

flacaltenn

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What I said was --- you're nothing special.. :lol:

Your biz tax treatment IS and SHOULD be similiar to every other business.. Not just farmers.
I get the same breaks.. The guy who runs a Baskin Robbins gets the same basic breaks.

But since leftists dont know how stuff works in general -- you get to do the perp walk...
((because you're their nemesis))
 
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Mr. H.

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Hey - that's MISTER "nothing special" to you, bub.

Liberals champion themselves as the keepers of science and engineering, yet know nothing of such applications in the real world. Nor of the associated costs.
 

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I admit to not knowing much about the oil industry, beyond the price at the pump and the quarterly profits reports. So when I read the article on North American oil being exported to Europe and Latin America I need to ask, is the pipeline the oil crowd is so interested in Obama approving of benefit to the average American or only to those who take crude from our oil fields and those of Canada for greater profit?

1 Strategy Marathon Petroleum Is Using to Increase Margins (MPC)
 
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flacaltenn

flacaltenn

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I admit to not knowing much about the oil industry, beyond the price at the pump and the quarterly profits reports. So when I read the article on North American oil being exported to Europe and Latin America I need to ask, is the pipeline the oil crowd is so interested in Obama approving of benefit to the average American or only to those who take crude from our oil fields and those of Canada for greater profit?

1 Strategy Marathon Petroleum Is Using to Increase Margins (MPC)
It's hard for me to any "conspiracy" to exporting refined oil.. I'd be more upset if we had even LESS refining capacity and had to export more crude oil. This play is available to Marathon and others simply because there are LIMITS on refinery capacity here in the states. Haven't built any appreciable addition to capacity in over 30 yrs.. LARGELY because of regulation and public attitude.

Normally if there's a price bubble somewhere in the world market, SOMEONE ramps up to serve it. In this case, if that volunteer is an American company, why not? Well -- it'll drive up DOMESTIC prices of gas -- you say.. That's true -- but in other commodities, the sector would EXPAND and build out to take the opportunity and reduce the local price.

The only evil here is the apparent wishes of the American people to keep gasoline refinery supply LIMITED and COSTLY.

You mentioned exporting gasoline to Central America.. They can get crude from Venezuela or the world at the same prices we can. Maybe cheaper. They are buying our REFINERY capability. If we stomp our feet and deny THAT ability to market -- it's just one more nail in the coffin of the American economy.. You'd probably be just as upset if we were sending our crude to Costa Rica and buying our gasoline from them..

Same as US mined Gold and Silver.. You'd THINK the same argument about keeping it at home would exist there. But in these markets, there's also not much we as a country can do to set a "local" price for precious metals WITHOUT severe govt controls... India RIGHT now is attempting to keep THEIR gold at home (and out of the hands of traders).. Severe implications for having a LOCAL price that's different from the world market..
 

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I admit to not knowing much about the oil industry, beyond the price at the pump and the quarterly profits reports. So when I read the article on North American oil being exported to Europe and Latin America I need to ask, is the pipeline the oil crowd is so interested in Obama approving of benefit to the average American or only to those who take crude from our oil fields and those of Canada for greater profit?

1 Strategy Marathon Petroleum Is Using to Increase Margins (MPC)
It's hard for me to any "conspiracy" to exporting refined oil.. I'd be more upset if we had even LESS refining capacity and had to export more crude oil. This play is available to Marathon and others simply because there are LIMITS on refinery capacity here in the states. Haven't built any appreciable addition to capacity in over 30 yrs.. LARGELY because of regulation and public attitude.

Normally if there's a price bubble somewhere in the world market, SOMEONE ramps up to serve it. In this case, if that volunteer is an American company, why not? Well -- it'll drive up DOMESTIC prices of gas -- you say.. That's true -- but in other commodities, the sector would EXPAND and build out to take the opportunity and reduce the local price.

The only evil here is the apparent wishes of the American people to keep gasoline refinery supply LIMITED and COSTLY.

You mentioned exporting gasoline to Central America.. They can get crude from Venezuela or the world at the same prices we can. Maybe cheaper. They are buying our REFINERY capability. If we stomp our feet and deny THAT ability to market -- it's just one more nail in the coffin of the American economy.. You'd probably be just as upset if we were sending our crude to Costa Rica and buying our gasoline from them..

Same as US mined Gold and Silver.. You'd THINK the same argument about keeping it at home would exist there. But in these markets, there's also not much we as a country can do to set a "local" price for precious metals WITHOUT severe govt controls... India RIGHT now is attempting to keep THEIR gold at home (and out of the hands of traders).. Severe implications for having a LOCAL price that's different from the world market..
Thanks for a considered response. I wonder though, if we have limited refinery ability why the big stink about building the Keystone pipeline? Wasn't the argument in building it to reduce the cost at the pump at home? It seems as though the Texas refinery's are sending boatloads of domestic crude refined into gas and diesel to Europe and Latin America.

BTW, there are three large refineries in Contra Costa County (across the bay from San Francisco), Chevron, Shell and Velero. Do you have an idea where their crude originated, and if the gas and oil are sold in the U.S. or are marketed to the rest of the world?
 

westwall

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I admit to not knowing much about the oil industry, beyond the price at the pump and the quarterly profits reports. So when I read the article on North American oil being exported to Europe and Latin America I need to ask, is the pipeline the oil crowd is so interested in Obama approving of benefit to the average American or only to those who take crude from our oil fields and those of Canada for greater profit?

1 Strategy Marathon Petroleum Is Using to Increase Margins (MPC)
It's hard for me to any "conspiracy" to exporting refined oil.. I'd be more upset if we had even LESS refining capacity and had to export more crude oil. This play is available to Marathon and others simply because there are LIMITS on refinery capacity here in the states. Haven't built any appreciable addition to capacity in over 30 yrs.. LARGELY because of regulation and public attitude.

Normally if there's a price bubble somewhere in the world market, SOMEONE ramps up to serve it. In this case, if that volunteer is an American company, why not? Well -- it'll drive up DOMESTIC prices of gas -- you say.. That's true -- but in other commodities, the sector would EXPAND and build out to take the opportunity and reduce the local price.

The only evil here is the apparent wishes of the American people to keep gasoline refinery supply LIMITED and COSTLY.

You mentioned exporting gasoline to Central America.. They can get crude from Venezuela or the world at the same prices we can. Maybe cheaper. They are buying our REFINERY capability. If we stomp our feet and deny THAT ability to market -- it's just one more nail in the coffin of the American economy.. You'd probably be just as upset if we were sending our crude to Costa Rica and buying our gasoline from them..

Same as US mined Gold and Silver.. You'd THINK the same argument about keeping it at home would exist there. But in these markets, there's also not much we as a country can do to set a "local" price for precious metals WITHOUT severe govt controls... India RIGHT now is attempting to keep THEIR gold at home (and out of the hands of traders).. Severe implications for having a LOCAL price that's different from the world market..
Thanks for a considered response. I wonder though, if we have limited refinery ability why the big stink about building the Keystone pipeline? Wasn't the argument in building it to reduce the cost at the pump at home? It seems as though the Texas refinery's are sending boatloads of domestic crude refined into gas and diesel to Europe and Latin America.

BTW, there are three large refineries in Contra Costa County (across the bay from San Francisco), Chevron, Shell and Velero. Do you have an idea where their crude originated, and if the gas and oil are sold in the U.S. or are marketed to the rest of the world?





Mr. H no doubt knows far more than I do about the industry, but I believe the reason we send oil out is because it has a high sulfur content which our EPA mandates not be used in the USA. Other countries don't seem to mind.
 
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flacaltenn

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I admit to not knowing much about the oil industry, beyond the price at the pump and the quarterly profits reports. So when I read the article on North American oil being exported to Europe and Latin America I need to ask, is the pipeline the oil crowd is so interested in Obama approving of benefit to the average American or only to those who take crude from our oil fields and those of Canada for greater profit?

1 Strategy Marathon Petroleum Is Using to Increase Margins (MPC)
It's hard for me to any "conspiracy" to exporting refined oil.. I'd be more upset if we had even LESS refining capacity and had to export more crude oil. This play is available to Marathon and others simply because there are LIMITS on refinery capacity here in the states. Haven't built any appreciable addition to capacity in over 30 yrs.. LARGELY because of regulation and public attitude.

Normally if there's a price bubble somewhere in the world market, SOMEONE ramps up to serve it. In this case, if that volunteer is an American company, why not? Well -- it'll drive up DOMESTIC prices of gas -- you say.. That's true -- but in other commodities, the sector would EXPAND and build out to take the opportunity and reduce the local price.

The only evil here is the apparent wishes of the American people to keep gasoline refinery supply LIMITED and COSTLY.

You mentioned exporting gasoline to Central America.. They can get crude from Venezuela or the world at the same prices we can. Maybe cheaper. They are buying our REFINERY capability. If we stomp our feet and deny THAT ability to market -- it's just one more nail in the coffin of the American economy.. You'd probably be just as upset if we were sending our crude to Costa Rica and buying our gasoline from them..

Same as US mined Gold and Silver.. You'd THINK the same argument about keeping it at home would exist there. But in these markets, there's also not much we as a country can do to set a "local" price for precious metals WITHOUT severe govt controls... India RIGHT now is attempting to keep THEIR gold at home (and out of the hands of traders).. Severe implications for having a LOCAL price that's different from the world market..
Thanks for a considered response. I wonder though, if we have limited refinery ability why the big stink about building the Keystone pipeline? Wasn't the argument in building it to reduce the cost at the pump at home? It seems as though the Texas refinery's are sending boatloads of domestic crude refined into gas and diesel to Europe and Latin America.

BTW, there are three large refineries in Contra Costa County (across the bay from San Francisco), Chevron, Shell and Velero. Do you have an idea where their crude originated, and if the gas and oil are sold in the U.S. or are marketed to the rest of the world?
The Keystone pipeline was geopolitical solution. Canada has excess production. I'd assume the leftists are eager to reduce our "blood for oil" issue and would rather trade with Canada than with Saudi or Iran. The only blood there is in the Stanley Cup playoffs.

I used to have a client in Hercules, so I know how much refining is in the East Bay. I ASSUME that it comes down on the Exxon Valdez with Capt. RunaGround. But I don't know.
Some of the Alaskan oil goes to Asia largely BECAUSE of refining capacity limits on the West Coast. Does no good to pump it domestically if you have no refining capacity. Go ask Iran what part of the embargo hurt them the most..
 

PoliticalChic

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I admit to not knowing much about the oil industry, beyond the price at the pump and the quarterly profits reports. So when I read the article on North American oil being exported to Europe and Latin America I need to ask, is the pipeline the oil crowd is so interested in Obama approving of benefit to the average American or only to those who take crude from our oil fields and those of Canada for greater profit?

1 Strategy Marathon Petroleum Is Using to Increase Margins (MPC)


"I admit to not knowing much about the oil industry, beyond the price at the pump and the quarterly profits reports."

How about the taxes they pay so you don't have to?


How about we compare profits and taxes......


1. Terrible how they make those obscene profits on poor folks! It seems that being liberal means never having to provide context. First, let’s compare the profit margin of Big Oil to that of Microsoft, Apple, Google, Johnson & Johnson, Coca-Cola, Nike, etc.

The average profit margin for companies in the S & P 500 index was 13 cents. And “The [Oil] industry’s net profit per dollar of revenue was just under 9 cents, compared to… the S&P 500, meaning the “markup” for the oil and gas industry is below average.”
AAPL Key Statistics | Apple Inc. Stock - Yahoo! Finance, available for each company.

So, where are the complaints about ‘Big Sneaker,’ or ‘Big Shampoo’?


2. And, of course, the antibusiness crowd loves stories about how much Big Oil is stealing from the American people! On the contrary, in 2006, the oil industry paid $81 billion in income tax, and while Exxon’s earnings increased 89% from 2003 to 2007, their income taxes increased 170%. Businessweek - Business News, Stock market & Financial Advice



3. The non-thinking segment of the public has been conditioned to hate the oil industry. Very few realize the extent to which they are subsidized by this industry. “According to the [Exxon] company's income statement, the amount of taxes it paid in 2008 was 2.5 times as much as its net profit.

The $45.2 billion profit figure makes a snappy headline, but the $116.2 billion in taxes that it paid is relegated to a footnote—if that. Exxon's tax bill breaks down like this: income taxes, $36.5 billion; sales-based taxes, $34.5 billion; "all other" taxes, $45.2 billion.” Exxon, Big Oil Profits Evil Only Until You Weigh Their Tax Bills - US News and World Report



4. If Exxon’s 2008 tax bill of $116.2 billion were split equally among all tax filers who pay income tax, each filer’s share would be $1,259/year. Still hate Exxon? Number of Americans Paying Zero Federal Income Tax Grows to 43.4 Million | Tax Foundation
 
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flacaltenn

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I admit to not knowing much about the oil industry, beyond the price at the pump and the quarterly profits reports. So when I read the article on North American oil being exported to Europe and Latin America I need to ask, is the pipeline the oil crowd is so interested in Obama approving of benefit to the average American or only to those who take crude from our oil fields and those of Canada for greater profit?

1 Strategy Marathon Petroleum Is Using to Increase Margins (MPC)


"I admit to not knowing much about the oil industry, beyond the price at the pump and the quarterly profits reports."

How about the taxes they pay so you don't have to?


How about we compare profits and taxes......


1. Terrible how they make those obscene profits on poor folks! It seems that being liberal means never having to provide context. First, let’s compare the profit margin of Big Oil to that of Microsoft, Apple, Google, Johnson & Johnson, Coca-Cola, Nike, etc.

The average profit margin for companies in the S & P 500 index was 13 cents. And “The [Oil] industry’s net profit per dollar of revenue was just under 9 cents, compared to… the S&P 500, meaning the “markup” for the oil and gas industry is below average.”
AAPL Key Statistics | Apple Inc. Stock - Yahoo! Finance, available for each company.

So, where are the complaints about ‘Big Sneaker,’ or ‘Big Shampoo’?


2. And, of course, the antibusiness crowd loves stories about how much Big Oil is stealing from the American people! On the contrary, in 2006, the oil industry paid $81 billion in income tax, and while Exxon’s earnings increased 89% from 2003 to 2007, their income taxes increased 170%. Businessweek - Business News, Stock market & Financial Advice



3. The non-thinking segment of the public has been conditioned to hate the oil industry. Very few realize the extent to which they are subsidized by this industry. “According to the [Exxon] company's income statement, the amount of taxes it paid in 2008 was 2.5 times as much as its net profit.

The $45.2 billion profit figure makes a snappy headline, but the $116.2 billion in taxes that it paid is relegated to a footnote—if that. Exxon's tax bill breaks down like this: income taxes, $36.5 billion; sales-based taxes, $34.5 billion; "all other" taxes, $45.2 billion.” Exxon, Big Oil Profits Evil Only Until You Weigh Their Tax Bills - US News and World Report



4. If Exxon’s 2008 tax bill of $116.2 billion were split equally among all tax filers who pay income tax, each filer’s share would be $1,259/year. Still hate Exxon? Number of Americans Paying Zero Federal Income Tax Grows to 43.4 Million | Tax Foundation
Good post -- one question.. Do you know if the $34.5 in "sales-based" taxes is counting transfer of federal gas tax and other road taxes to govt entities? That wouldn't be fair. Might as well include Payroll taxes and property taxes. Or -- is that part of the "all other"?

Just healthy skepticism.. Arguments can be made that property taxes and payroll taxes are valid also.. But maybe not the road taxes..
 

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It's hard for me to any "conspiracy" to exporting refined oil.. I'd be more upset if we had even LESS refining capacity and had to export more crude oil. This play is available to Marathon and others simply because there are LIMITS on refinery capacity here in the states. Haven't built any appreciable addition to capacity in over 30 yrs.. LARGELY because of regulation and public attitude.

Normally if there's a price bubble somewhere in the world market, SOMEONE ramps up to serve it. In this case, if that volunteer is an American company, why not? Well -- it'll drive up DOMESTIC prices of gas -- you say.. That's true -- but in other commodities, the sector would EXPAND and build out to take the opportunity and reduce the local price.

The only evil here is the apparent wishes of the American people to keep gasoline refinery supply LIMITED and COSTLY.

You mentioned exporting gasoline to Central America.. They can get crude from Venezuela or the world at the same prices we can. Maybe cheaper. They are buying our REFINERY capability. If we stomp our feet and deny THAT ability to market -- it's just one more nail in the coffin of the American economy.. You'd probably be just as upset if we were sending our crude to Costa Rica and buying our gasoline from them..

Same as US mined Gold and Silver.. You'd THINK the same argument about keeping it at home would exist there. But in these markets, there's also not much we as a country can do to set a "local" price for precious metals WITHOUT severe govt controls... India RIGHT now is attempting to keep THEIR gold at home (and out of the hands of traders).. Severe implications for having a LOCAL price that's different from the world market..
Thanks for a considered response. I wonder though, if we have limited refinery ability why the big stink about building the Keystone pipeline? Wasn't the argument in building it to reduce the cost at the pump at home? It seems as though the Texas refinery's are sending boatloads of domestic crude refined into gas and diesel to Europe and Latin America.

BTW, there are three large refineries in Contra Costa County (across the bay from San Francisco), Chevron, Shell and Velero. Do you have an idea where their crude originated, and if the gas and oil are sold in the U.S. or are marketed to the rest of the world?
The Keystone pipeline was geopolitical solution. Canada has excess production. I'd assume the leftists are eager to reduce our "blood for oil" issue and would rather trade with Canada than with Saudi or Iran. The only blood there is in the Stanley Cup playoffs.

I used to have a client in Hercules, so I know how much refining is in the East Bay. I ASSUME that it comes down on the Exxon Valdez with Capt. RunaGround. But I don't know.
Some of the Alaskan oil goes to Asia largely BECAUSE of refining capacity limits on the West Coast. Does no good to pump it domestically if you have no refining capacity. Go ask Iran what part of the embargo hurt them the most..
Thanks.
 

Wry Catcher

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I admit to not knowing much about the oil industry, beyond the price at the pump and the quarterly profits reports. So when I read the article on North American oil being exported to Europe and Latin America I need to ask, is the pipeline the oil crowd is so interested in Obama approving of benefit to the average American or only to those who take crude from our oil fields and those of Canada for greater profit?

1 Strategy Marathon Petroleum Is Using to Increase Margins (MPC)


"I admit to not knowing much about the oil industry, beyond the price at the pump and the quarterly profits reports."

How about the taxes they pay so you don't have to?


How about we compare profits and taxes......


1. Terrible how they make those obscene profits on poor folks! It seems that being liberal means never having to provide context. First, let’s compare the profit margin of Big Oil to that of Microsoft, Apple, Google, Johnson & Johnson, Coca-Cola, Nike, etc.

The average profit margin for companies in the S & P 500 index was 13 cents. And “The [Oil] industry’s net profit per dollar of revenue was just under 9 cents, compared to… the S&P 500, meaning the “markup” for the oil and gas industry is below average.”
AAPL Key Statistics | Apple Inc. Stock - Yahoo! Finance, available for each company.

So, where are the complaints about ‘Big Sneaker,’ or ‘Big Shampoo’?


2. And, of course, the antibusiness crowd loves stories about how much Big Oil is stealing from the American people! On the contrary, in 2006, the oil industry paid $81 billion in income tax, and while Exxon’s earnings increased 89% from 2003 to 2007, their income taxes increased 170%. Businessweek - Business News, Stock market & Financial Advice



3. The non-thinking segment of the public has been conditioned to hate the oil industry. Very few realize the extent to which they are subsidized by this industry. “According to the [Exxon] company's income statement, the amount of taxes it paid in 2008 was 2.5 times as much as its net profit.

The $45.2 billion profit figure makes a snappy headline, but the $116.2 billion in taxes that it paid is relegated to a footnote—if that. Exxon's tax bill breaks down like this: income taxes, $36.5 billion; sales-based taxes, $34.5 billion; "all other" taxes, $45.2 billion.” Exxon, Big Oil Profits Evil Only Until You Weigh Their Tax Bills - US News and World Report



4. If Exxon’s 2008 tax bill of $116.2 billion were split equally among all tax filers who pay income tax, each filer’s share would be $1,259/year. Still hate Exxon? Number of Americans Paying Zero Federal Income Tax Grows to 43.4 Million | Tax Foundation
I was 'accused' of being self effacing in one of my employee evaluations; only you would find that a topic for your usual ad hominem retort.

BTW, lies by omission remain lies Mizzzy. The thinking segment of the public has not been conditioned to hate the oil companies by some left wing propaganda machine. Want to compare the measure of hateful rhetoric against the PPACA vis a vis the Gulf Oil Spill or the Alaskan Oil Spill - all self inflicted but which harmed our planet and which was offered to heal its inhabitants?

11 Facts about the BP Oil Spill | Do Something
 
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flacaltenn

flacaltenn

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WryCatcher, PoliticalChic...

Because you guys are honestly super...

Does the news that Sierra Club took $25Mill from a fossil fuel guy change your opinion of their work or make you believe they have compromised principles?

It doesn't affect my opinion of them at all until I see evidence of influence. IN FACT -- I encourage large multinationals of all types to support Eco Orgs. It's too bad it's considered taboo..
 

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