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post #61 of 85 (permalink) Old 02-01-2006, 07:13 PM
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RE: Exxon Mobil Posts Largest Profit in History

Quote:
old300D - 2/1/2006 3:41 PM

You simply cannot answer the question can you? Why pay profitable companies to build their infrastructure? How you can continue to defend the billions of corporate give-aways and reject healthcare and retirement for poorer people is beyond me.

You are simply a lunatic if you think our military is not supporting the oil industry. If there were no oil in the ME, you seriously think we would be spending billions a week killing Arabs?
I do not know if the above was aimed at me, so I'll give my response as if it was...

Usually, I ignore your rants... Tonight, I just can't! Your left-wing arguments are misplaced and unfounded. Where did I or anyone in this discussion reject health care and retirement? And I do not accept your assertion the gov. is paying any profitable business to build its infrastructure, unless you mean facilities strategically important to the welfare and security of this country (Highways, pipelines, etc). If gov subsidies are what you are referring to, how about paying farmers to NOT raise crops? How about welfare to the indigent who keep squirting out kids to inflate their welfare checks? How about pork-barrel politics to build bridges to nowhere? How about taxes on corporations, which are summarily passed on to consumers, thereby increasing the tax burden on the average citizen? You want to re-distribute the wealth? Get rid of ALL income tax and impose a national sales tax... That'll do 'er.

And on the topic of the military, how is the war in the ME supporting the oil industry? Do we not import the bulk of our oil from other countries outside of the ME (Canada is #1)? And tell me, how much biodiesel does your '89 toy burn? Or your '78 280? For that matter, what about the myriad of products in the average household that rely on petrochems for their manufacture can be made without oil distillates?
Sounds like, to me, the re are a host of industries that would benefit from the war, if your assertion is correct.

I will be glad to address any issue where you can show me that profitable companies are having their infrastructure paid for by, your words, "Corporate give-aways". Hell, I'll even admit to when you are right, if that is the case... Otherwise you are just farting in the wind, and swallowing whatever liberal drivel is slopped into your trough.

'ave a good evening...

RM Smith www.rmsmithco.com

Where is it again that we are going... And why are we in a handbasket?
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post #62 of 85 (permalink) Old 02-01-2006, 07:20 PM
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RE: Exxon Mobil Posts Largest Profit in History

Quote:
myfirstbenz - 2/1/2006 5:06 PM

Quote:
1996_s500 - 2/1/2006 4:57 PM

Quote:
Marsden - 1/30/2006 10:40 PM
with profits in 2005 reaching $36.13 billion and revenue $371 billion.
oh my god. imagine how many MB's we can buy with those numbers. We could start our own MB dealership. Jees. That is really crazy. So many companies make this much money. It is amazing
We could buy a new w221 hybrid for everyone here, and a gas card
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i'll take one of those if you dont mind please. Thank you.[:D]

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post #63 of 85 (permalink) Old 02-01-2006, 07:42 PM
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RE: Exxon Mobil Posts Largest Profit in History

Quote:
Ammonium - 2/1/2006 7:54 PM

Quote:
chiphomme - 2/1/2006 8:07 PM

Quote:

That tax sir, if you are familiar with federal automotive standards, is because your M5 is classifies as a car. Your Escalade on the other hand is classified as a truck and therefore has different minimum requirements for gas milage. There have been numberous proposals brought up in congress about changing this so that the tax on SUV's is the same as cars but it has been shot down everytime. Automotive companies claim than a change to the law like this would cost them money causing them to raise prices. As far as I am concerned, you would to be paying an additional $3700 on your Escalade.



That's my point. The original poster was talking about corporate welfare. Big SUV's that avoid a tax, that should apply to them, because of lobbying would be a form of "corporate welfare" by his definition.


BTW, the gas guzzler tax is a screwed up. The higher cost and tax revenue garnered at the pump should suffice as an incentive for fuel efficency.

Not until gasoline hits $5 a gallon will you see a change. Until then people will continue to drive their SUV and think nothing of it.
BINGO, What the market well bear.
Until that time, I believe fuel is cheap
at say $2.50 Gal.
post #64 of 85 (permalink) Old 02-02-2006, 06:12 AM
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RE: Exxon Mobil Posts Largest Profit in History

Quote:
Ears - 2/1/2006 4:37 PM

Quote:
430 - 2/1/2006 2:34 PM

So how are the oil compaines not paying their fair share in taxes:

These large oil concerns are already subject to a 35% corporate income tax rate, and record profits mean commensurate tax payments to the federal Treasury. According to a new report from the Washington-based Tax Foundation, Exxon, ConocoPhillips and Chevron paid a combined $44.3 billion in corporate income taxes in 2005, or 49.2% more than the $29.7 billion they paid the previous year.

Furthermore, says the report, "the average effective tax rate on the major integrated oil and gas industry is estimated to equal 38.3%. This exceeds the estimated average effective tax rate of 32.3% for the market as a whole." In other words, even without Congress' would-be ex post facto confiscation of profits, energy companies are already providing the Members with a "windfall" to use to finance their 14,000 spending earmarks.
Now here's where I differ from the reigning opinion expressed in the body of this text (harkening back to a similar post months ago). The corporations actually pay ZERO tax! Now before you go berserk, consider this. Like any business expense, the tax is passed to the consumer... Sure, they pony up cash to the treasury, but it comes from you and me. YOU CANNOT TAX BUSINESS. You are only passing it along to the consumer! When you finally accept this, you will begin to realize how much better a national sales tax is, and do away with income tax altogether, corporate and otherwise! Exxon and the other oil companies did not pay the above quoted tax... You and I and the other 400 million consumers did!
No argument with your logic because you are correct.

I am all for a national sales tax or s flat tax. Unfortunatly the only way you will see a national sales tax in this country is if it is in addition to the existing tax structure.
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post #65 of 85 (permalink) Old 02-02-2006, 06:16 AM
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RE: Exxon Mobil Posts Largest Profit in History

[QUOTE]myfirstbenz - 2/1/2006 7:15 PM

[QUOTE]430 - 2/1/2006 10:21 AM

Quote:
myfirstbenz - 1/31/2006 10:41 PM

Quote:
chiphomme - 1/31/2006 7:20 PM

Quote:
myfirstbenz - 1/31/2006 9:49 PM
feel that they don't need to help others by paying taxes and this is eviednt through their support of the GOP that is out for tax cuts and inappropriate government cuts in social programs that end up helping keep costs down in the long run, and also cutting defense when they play it as their trump card so often.
How about an example of one of these 'inappropriate' gov't cuts in social programs.
http://www.msnbc.msn.com/id/11133732/

You want innapropriate cuts... look in the news today. Lets take make medicine more expensive for elderly, or lets make it harder for students to go to college and help move this country forward in research and development and educated thought... You tell me those are appropriate... why? so we can pay for a fucking war no one wants, that's why, or pay for rebuilding a country that is destroying itself as soon as we put up new buildings that often are riddled with fraud and deceptive construction and funding practices. You tell me that this is appropriate. We can pay billions for military systems that are for wars that we aren't fighting but we can't give out only a small percentage of this to people who need medicine or who need help paying for school? That is just insane, and the republicans say we need to trim out of control spending, cut your own fucking porkbarrel programs, don't cut programs that keep people less informed and out of school or that keep them from affording medicine. See just like i said in my earlier post, now those are going to get sicker because they can't get help, then they will go to a hospital when they are on their death bed, and they won't be able to pay for the bill, you know who will, WE WILL, you like that IRONY you can't pay a tiny bit for taxes but it is going to make the healthcare premiums for your company or your employer much higher so they might have to lay people off, or make you pay higer copays... you like that? I sure as shit dont.
My disagreement with the 'cuts' you are referencing are the fact that there were not more of them. Of course the 'cuts' are really just a reduction in growth rate and not a true cut.

No one in this country is kept from college due to lack of money. There are so many programs - scholarships, loans, grants, etc. That anyone that is qualified and wants to go to college can.
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post #66 of 85 (permalink) Old 02-02-2006, 06:30 AM
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RE: Exxon Mobil Posts Largest Profit in History

Times Online February 02, 2006


Shell breaks profit record
By Bryce Elder and agencies



Shell today revealed record profits for a London-listed company, with the oil giant reporting earnings of $22.94 billion (£12.93 billion).



The figure - equivalent to nearly £1.5 million every hour - was up almost a third on last year’s profit of $17.59 billion. It is equivalent to just over 1 per cent of Britain’s gross domestic product, or the entire GDP of Sudan.

The group said it expected to use some of the windfall to return up to $5 billion to investors through share buybacks in 2006.

The record number came after a year in which oil prices rose from around $45 a barrel to reach a record of $70.85 on August 30, the day after Hurricane Katrina struck the Gulf of Mexico and damaged production facilities.

For the final quarter of 2005, Shell said profits rose 3 per cent to $5.395 billion on a current cost of supply (CCS) basis. That matched City expectations, which were centred at around $5.385 billion.

The bulk of Shell’s profits come from its "upstream" business - the arm which gets oil and gas out of the ground. This division has been boosted by the spiralling cost of crude oil, boosted by tensions over the safety of supplies from oil-producing countries and this year's damaging hurricane season in the Atlantic.

However, storms also disrupted Shell’s production, shutting refineries temporarily and forcing it to invest on repairs. Production fell to 3.5 million barrels a day during the final quarter, down from an equivalent figure of 3.8 million barrels during the same period last year.

Jeroen van der Veer, the Shell chief executive, said: "Our good performance in the fourth quarter of 2005 gives us a solid platform to build on in 2006."

Shell's results come in the same week that Exxon Mobil, the world’s largest oil company, revealed $33.86 billion profits in its last financial year - the biggest so far in corporate history. That result beat investor expectations.

Jaap Barendregt, an analyst at FBS Bankiers, told Reuters that Shell’s results "are as expected, but the result in itself is a bit disappointing. We could have expected somewhat more given the surprise we saw with Exxon."

In early deals on the London Stock Exchange, shares of Shell were down 34p to £19.71. They are up about 60 per cent over the last year.

To track the stock click here.

BP is expected to continue the trend of record profits next week by revealing full-year profits estimated at $21.7 billion. This contrasts with earnings of $16.4 billion in 2004.

Oil-company profits, driven by the surging price of oil and gas, have drawn criticism as the cost of petrol remains high and domestic-heating bills soar.

Gordon Brown increased taxes on oil companies in his pre-budget statement in November. The tax rise, which came into effect this month, has already caused Shell to scale back its plans for exploration in the North Sea.

The bumper profits enjoyed by big British companies have caused several political outcries in recent years, especially those posted by Vodafone and HSBC.

In November American oil firms were forced to justify their bulging third-quarter profits to Congress, where they tried to dissuade the US government from imposing a windfall tax on their gains. Exxon has long been a focal point for criticism, not least because the $34 billion in its coffers could pay for the construction of more than a dozen refineries


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post #67 of 85 (permalink) Old 02-02-2006, 11:12 AM
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RE: Exxon Mobil Posts Largest Profit in History

Free market system with no checks or balances just has not worked in the past, as the profits do not get spread around in any fair way. Just like Iraq/Vietnam no one in charge seems to be aware of the RECENT past mistakes within the last 100 years. The oil companies need to be checked, particularly regarding new refineries.
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post #68 of 85 (permalink) Old 02-02-2006, 11:19 AM
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RE: Exxon Mobil Posts Largest Profit in History

Quote:
Shane - 2/2/2006 1:12 PM

Free market system with no checks or balances just has not worked in the past, as the profits do not get spread around in any fair way. Just like Iraq/Vietnam no one in charge seems to be aware of the RECENT past mistakes within the last 100 years. The oil companies need to be checked, particularly regarding new refineries.
Want the profits spread around? Buy stock in the company.

B
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post #69 of 85 (permalink) Old 02-02-2006, 11:20 AM
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RE: Exxon Mobil Posts Largest Profit in History

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Shane - 2/2/2006 1:12 PM

Free market system with no checks or balances just has not worked in the past, as the profits do not get spread around in any fair way. Just like Iraq/Vietnam no one in charge seems to be aware of the RECENT past mistakes within the last 100 years. The oil companies need to be checked, particularly regarding new refineries.
So what is a 'fair' way to spread out someone else's money? Who determines what is fair? Can we apply the same principal of taking anything you earn that we consider excessive and spread it around? Post your W2 and we will get a group of board members to investigate whether you made too much money. If so we will redristube your excessive wealth to the rest of the board. Clearly it is not fair if you are earning above $XXXXX. Not everyone can be a fortunate as you and they should be compensated for it.
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post #70 of 85 (permalink) Old 02-02-2006, 11:55 AM
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RE: Exxon Mobil Posts Largest Profit in History

Quote:
guage - 2/2/2006 2:42 AM

Quote:
Ammonium - 2/1/2006 7:54 PM

Quote:
chiphomme - 2/1/2006 8:07 PM

Quote:

That tax sir, if you are familiar with federal automotive standards, is because your M5 is classifies as a car. Your Escalade on the other hand is classified as a truck and therefore has different minimum requirements for gas milage. There have been numberous proposals brought up in congress about changing this so that the tax on SUV's is the same as cars but it has been shot down everytime. Automotive companies claim than a change to the law like this would cost them money causing them to raise prices. As far as I am concerned, you would to be paying an additional $3700 on your Escalade.



That's my point. The original poster was talking about corporate welfare. Big SUV's that avoid a tax, that should apply to them, because of lobbying would be a form of "corporate welfare" by his definition.


BTW, the gas guzzler tax is a screwed up. The higher cost and tax revenue garnered at the pump should suffice as an incentive for fuel efficency.

Not until gasoline hits $5 a gallon will you see a change. Until then people will continue to drive their SUV and think nothing of it.
BINGO, What the market well bear.
Until that time, I believe fuel is cheap
at say $2.50 Gal.

Our fuel is already $7.35/imp gallon and 4x4 SUVs are still more popular than econo-subcompacts (minis).General car usage and ownership is still rising.Only a small percentage (I think about 20%) of tax revenue from motorists is reinvested in transport.

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