Wow... just wow. This is how out of touch the oil industry is.

[DMX7]

http://finance.yahoo.com/tech-ticker/article/499288/Why-We-Hate-Oil-Companies%3A-Former-Shell-President-Counts-the-Ways

Watch this interview with the former Shell President who essentially says Big Oil doesn't influence Washington politics and that it's Washington's fault that they get blamed for Oil profits and prices.

[rjv]

i'm sure word will come in here soon to tell us how we should all just be grateful to be allowed to be a part of big oil's omnipotent world.

[Wild Cobra]

Why should oil execs get blamed for what they are suppose to do?

Make money?

My God. What types of idiots thing corporations shouldn't make money?

[z0sa]

Why should oil execs get blamed for what they are suppose to do?

Make money?

My God. What types of idiots thing corporations shouldn't make money?

The problem is capitalism. Hence the name, 'capitalism.' It's all about capitalizing at the expense ($$) of others. Big business capitalizes on their opportunities extremely well, and keeps competitors from capitalizing on theirs.

Evil, evil capitalism. What were the founding fathers thinking?

[boutons_deux]

"founding fathers"

... were very aware of the criminals in banking and industry.

[Wild Cobra]

The problem is capitalism. Hence the name, 'capitalism.' It's all about capitalizing at the expense ($$) of others. Big business capitalizes on their opportunities extremely well, and keeps competitors from capitalizing on theirs.

Evil, evil capitalism. What were the founding fathers thinking?
Capitalism has it's faults. It's called people. It doesn't matter what system you have, you will find corrupt people controlling the aspects they can. I don't understand why people are so against capitalism when it is the best system. It has brought this young nation to the number one economic power in the world. If you cannot grasp that reality, then you are lost.

[ChumpDumper]

Why should oil execs get blamed for what they are suppose to do?

Make money?

My God. What types of idiots thing corporations shouldn't make money?We shouldn't give them taxpayer money on top of the money they make off their business.

[Wild Cobra]

We shouldn't give them taxpayer money on top of the money they make off their business.
Now that I agree with.

Where's that happening?

[ChumpDumper]

Now that I agree with.

Where's that happening?In the United States.

[Wild Cobra]

In the United States.
Show me the numbers, or are you speaking of tax breaks and misrepresenting them?

[RandomGuy]

Show me the numbers, or are you speaking of tax breaks and misrepresenting them?

We have gone over this before.

Tax breaks do amount to subsidies.

[ChumpDumper]

Show me the numbers, or are you speaking of tax breaks and misrepresenting them?I am speaking of direct subsidies that were only meant to be paid when oil was very cheap but are now permanent no matter what the price of oil, tax breaks (not misrepresented at all), lease terms costing one-tenth the price they used to be and royalty waivers where the government receives no money from the oil taken from its lands.

[xrayzebra]

We shouldn't give them taxpayer money on top of the money they make off their business.

What taxpayer money would that be Chump?

[ChumpDumper]

Did you not read this post, x?
I am speaking of direct subsidies that were only meant to be paid when oil was very cheap but are now permanent no matter what the price of oil, tax breaks (not misrepresented at all), lease terms costing one-tenth the price they used to be and royalty waivers where the government receives no money from the oil taken from its lands.To say nothing of the $50 million annual earmark for research.

Why does the oil industry need all this when oil is $70 a barrel?

[xrayzebra]

We have gone over this before.

Tax breaks do amount to subsidies.


They do? Gee I didn't know that. What is your source?

[xrayzebra]

Did you not read this post, x?To say nothing of the $50 million annual earmark for research.


Gee, research is a subsidy? 50 million, huh. Didn't Obama just say
BP spent that much on an ad campaign?

No cost leases, didn't the government rescind those and had them
all redone?

Those dastardly oil companies. Mean bitches. Next thing you know they
they will rule the world. Oh, I forgot they already do according some
on this board.:rollin

[ChumpDumper]

Here's a great 2006 quote for all the idiots who claim that environmentalists forced BP to drill deep in the Gulf:


During congressional hearings last fall, executives of the country's largest oil companies said the industry didn't need incentives for exploration. Now, however, the prospect of losing royalty relief alarms them.

Exxon Mobil's new chief executive has argued against changing the system. And Scott Davis, Chevron's general manager of capital projects in the gulf, said some offshore oil fields would be too expensive to tap without royalty relief.

"A lot of those resources couldn't get developed," Davis said. "We wouldn't take that risk."Thanks to the government's subsidizing the costs and the risks, BP drilled.

[ChumpDumper]

Gee, research is a subsidy? 50 million, huh. Didn't Obama just say
BP spent that much on an ad campaign?So why did they need that handout from the government?


No cost leases, didn't the government rescind those and had them
all redone?I wasn't talking about no cost leases.


Those dastardly oil companies. Mean bitches. Next thing you know they
they will rule the world. Oh, I forgot they already do according some
on this board.:rollinWhy do they need to be subsidized?

[boutons_deux]

http://www.factcheck.org/askfactcheck/what_kind_of_tax_breaks_does_the.html

http://climateprogress.org/2010/05/16/eliminating-tax-subsidies-for-oil-companies/

http://cleantech.com/news/554/oil-industry-subsidies-for-dummies

[RandomGuy]

[Tax breaks] do [amount to subsidies]? Gee I didn't know that. What is your source?

Any microeconomics 101 textbook. It is a rather specific item of study during the course of the class.

If you like, I will find my old textbook from 1998 and give you the name, chapter and page number. I kept it and re-read it occasionally as a refresher, because it fascinates me, and I like to make sure I don't forget the basics over time.

[angrydude]

Any microeconomics 101 textbook. It is a rather specific item of study during the course of the class.

If you like, I will find my old textbook from 1998 and give you the name, chapter and page number. I kept it and re-read it occasionally as a refresher, because it fascinates me, and I like to make sure I don't forget the basics over time.

no shit they have the same effect but they aren't the same thing. Next thing you know someone will claim that cutting taxes will cause a trade war with China. :rolleyes

At any rate, any textbook on international trade would also tell you subsidies are the best way to help domestic goods compete with foreign ones (not tariffs).

[ChumpDumper]

How does US oil "compete" with oil from other countries?

[clambake]

How does US oil "compete" with oil from other countries?

well.....dumbass americans think that US oil is for the US.

[DMX7]

They do? Gee I didn't know that.

That's because you're not very smart. But I do like making money off of tools like you.

[DMX7]

Why should oil execs get blamed for what they are suppose to do?

Make money?

My God. What types of idiots thing corporations shouldn't make money?

I agree with that. You're missing the point though. He's essentially suggesting that the oil industry isn't responsible for oil prices and profits. Big Oil can charge whatever they want and make as much money as they want. But to pretend that they aren't the ones that people (rightly or wrongly) should be upset at when prices go up is crazy.

let me ask you this though, do you think the oil industry influences domestic energy policies?

[Nbadan]

The problem isn't that B.P. "made money"..the problem is that B.P. did everything to cut corners and safety to make more money...gross profits....

....but that's what wing-nuts want, unregulated markets who can do what ever they please...

[Nbadan]

et me ask you this though, do you think the oil industry influences domestic energy policies?

There is no doubt that they do, even under Obama...but it's not that we need much more regulation, except to deal with deep-water wells, for the most part we just need the govt. to enforce the regulations already on the books...

[xrayzebra]

That's because you're not very smart. But I do like making money off of tools like you.

You are so cruel. You run with Chump. He is cruel. Poor me, I need
a subside to tide me over till my royalty check comes in...:lol

[Wild Cobra]

We have gone over this before.

Tax breaks do amount to subsidies.
Bullshit.

At one point in the past, I linked a government definition of subsidy. You are flat out wrong. Thoughts like that are why I call people libtards and lemmings. You believe the lies of the pundits.

[Wild Cobra]

Here's a quick definition from wiki:

Wiktionary: Subsidy (http://en.wiktionary.org/wiki/subsidy):

Noun

subsidy (plural subsidies)

1. financial support or assistance, such as a grant.
2. (dated) money granted by parliament to the British Crown

[ChumpDumper]

Here's a quick definition from dictionary.com:



sub·si·dy
   [suhb-si-dee]
–noun,plural-dies.

1. a direct pecuniary aid furnished by a government to a private industrial undertaking, a charity organization, or the like.

2. a sum paid, often in accordance with a treaty, by one government to another to secure some service in return.

3. a grant or contribution of money.

4. money formerly granted by the English Parliament to the crown for special needs.

http://dictionary.reference.com/browse/subsidy

[EmptyMan]

Let me know when y'alls cars run on lollipops and rainbows.

[Winehole23]

There are already ultralite cars that run on compressed air, motorcycles that run on peanut oil and don't top fuel dragsters run on alcohol?

[DMX7]

I believe no regular size cars in Brazil run only on pure gasoline anymore.

[DMX7]

Let me know when y'alls cars run on lollipops and rainbows.

Straw man argument.