[Rhodes22-list] Fuel Question

[Chris Geankoplis]

John,
        The proper phrase is "Pennies from Heaven" or is it "Peonies from
heaven", but not to worry for it comes from higher beings that God obviously
loves more.

Chris the raving, slavering liberal
----- Original Message ----- 
From: "John Shulick" <jsbudda at verizon.net>
To: <rhodes22-list at rhodes22.org>
Sent: Monday, June 16, 2008 8:38 AM
Subject: Re: [Rhodes22-list] Fuel Question


>
>
>
> John,
>
> We keep hearing about those "subsidies" to Big Oil but no one seems to be
> able to find them in the tax code. As I sit here, I'm staring at a whole
> shelf of books on oil & gas accounting and I sure as hell can't find them,
> unless 'they' are referring to the immediate write-offs associated with
> bringing a well on line (don't ask how I know the tax rules for "dry
> holes").  The idea of subsidies for Big Oil is a myth.  In fact, the whole
> idea of Big Oil is a myth.  Exxon/Mobil, the largest of the American oil
> companies, is number 14 on the list worldwide, and the top five American
oil
> companies control only 6% of the worlds reserves.  As for their "excess
> profits", their net return is less than 10% versus some software companies
> with returns of around 25%.  If some dumbass in Congress (let me restate
> that) if any single dumbass among the majority in Congress wants to go
> hunting for an "excess profits" target, it wouldn't be an oil company.  As
> to your numbers regarding donations, I don't have time to check them but
> they sound about right.  The Dems have voted about 80% of the time against
> drilling on US land and sea so who do you think the oil companies would
> support.  What we are suffering from right now with gas prices is
Economics
> 101, which explains why the majority in Congress don't "get it".  They
> either didn't study economics, they don't understand economics, or deep
down
> they really don't like capitalism.
>
> Brad
>
> Brad
>
>       What price did those companies pay for access to public lands (I
> believe the phrase is drilling leases) verses the value of the product
they
> produce? If that doesn't qualify as a subsidy I'll buy that bridge in Iraq
> you're selling. When I bought my house, the minerals under it had been
given
> away 150 or so years ago for pennies and should the owners of those rights
> decide to they can destroy may home to get to them and all I can do is
> accept what THEY decide is a fair market value. As for the rules of
> accounting all I have to say is "Enron". It may not be the case for you in
> your life experiences but for me "Trickle down economics" means some rich
> s.o.b. is urinating down my back and then telling me
> its raining.
>
> John Shulick
> -- 
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http://www.nabble.com/Fuel-Question-tp17858444p17867020.html
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>
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