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I guess the military doesn't teach math
This is what thinkprogress wants to be when they grow up.
Gasoline Volume Sales, Demographics
and our Changing Culture
By Doug Short
January 23, 2013 (Monthly Update)
http://advisorperspectives.com/dshor...line-Sales.php
I guess the military doesn't teach math
. How's the "job"?
coward
you can mooch every drip of the petrol you use from your job, cool story bro. stolen fruit is sweet
I graduate in May and start in July. I'll let you know.
Hopefully your job doesn't involve anything analytical seeing that you up 5th grade math.
it's a perk, not unlike those free wontons you get for busing tables at the Peking Moon.
Speed Trap: Big Oil Profits from High Gasoline Prices
Boosting the bottom line
While not investing in producing oil from their idle leases, four of the companies—all but BP—spent $42 billion, or one-third of their profits, repurchasing their stock. This practice enriches shareholders but it doesn’t add to oil supplies or to investments in alternative fuels or other new technologies.
The big five oil companies invested nearly $50 million of their abundant bounty to lobby Congress in 2012. They spent nearly $8 million on federal campaign contributions, with Republican candidates receiving $4 for every $1 donated to Democrats. A major goal of these political efforts was to retain their special tax breaks, which annually are worth $2.4 billion, according to the Congressional Joint Committee on Taxation. Last March Big Oil successfully lobbied against a Senate bill to eliminate the special tax breaks. The bill was defeated by a vote of 51-47, with 60 votes needed for passage.
These special tax provisions are part of what makes the oil and gas industry the most heavily subsidized energy source in the world over the past 100 years, according to “What Would Jefferson Do?”, a study by the venture capitalist firm DBL Investors. It determined that the oil industry received a total of $446 billion in government subsidies from 1918 through 2009. Meanwhile, the renewable energy industry received $5.5 billion over the past 15 years. U.S. taxpayers invested $80 in oil for every $1 invested in clean, renewable energy.
Jack Gerard, head of the American Petroleum Ins ute, repeatedly claims that “The oil and gas industry gets no subsidies, zero, nothing,” but this ignores reality. Economists recognize that there is no meaningful difference between tax expenditures and programs that spend money directly. President Ronald Reagan’s chief economic advisor, economist Martin Feldstein, noted that “These tax rules—because they result in the loss of revenue that would otherwise be collected by the government—are equivalent to direct government expenditures. If Congress is serious about cutting government spending, it has to go after many of them.”
Moreover, contrary to claims by Big Oil lobbyists, the big three publicly owned U.S. oil companies—ExxonMobil, Chevron, and ConocoPhillips—paid relatively low federal effective tax rates in 2011. Reuters reports that their tax payments were “a far cry from the 35 percent top corporate tax rate.” Their effective federal tax rates in 2011 were: ExxonMobil, 13 percent; Chevron, 19 percent; and ConocoPhillips, 18 percent.
Sen. Lisa Murkowski’s (R-AK) just-released energy plan argues that these special oil tax breaks should be retained because they help “companies’ ability to make the capital expenditures needed to bring re‐sources to market.” This claim ignores that the big five oil companies have $70 billion in cash reserves—ample capital to bring oil to the market.
Maintaining the existing special tax breaks for the big five oil companies makes little sense. In essence, the policy allows Big Oil to force Americans to pay them twice: first at the pump for high gasoline prices, and again by robbing the U.S. Treasury of $2.4 billion annually—money that is replaced with tax revenue from the middle class. After posting enormous profits in 2012, elimination of these unnecessary special tax breaks for the largest oil companies is long overdue.
http://www.americanprogress.org/issu...soline-prices/
In England, gas is $10 a gallon.
In fact, gas is so high in England that people have stopped eating horses and started riding them again.
LOL...
Too bad they slaughtered them in Romania.
Good read. Thx, WH.
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