We are screwed !!!

[Rex E.]

Originally Posted by piece-itpete

The whole world runs on oil. And while I may or may not be a fan of the giant oil companies (de facto monopolies that should be broken imo) they run on razor thin margins.

Think gas is expensive now?

Pete

Why, just think if they paid taxes......

[JBS...]

Originally Posted by Rex E.

Why, just think if they paid taxes......

Really

ExxonMobil in 2011 made $27.3 billion in cash payments for income taxes. Chevron paid $17 billion and ConocoPhillips $10.6 billion. And not only were these the highest amounts in absolute terms, when compared with the rest of the 25 most profitable U.S. companies (see our slideshow for the full rundown of who paid what), the trio also had the highest effective tax rates. Exxon’s tax rate was 42.9%, Chevron’s was 48.3% and Conoco’s was 41.5%. That’s even higher than the 35% U.S. federal statutory rate, which is already the highest tax rate among developed nations.


slideshow

http://www.forbes.com/pictures/mef45fkfh/1-exxonmobil/

[JBS...]

North Dakota

> 2011 Proved oil reserves: 2,649 million barrels
> Oil refineries: 1
> 2012 population: 699,628
> Unemployment rate: 3.1

Recent developments in hydraulic-fracturing technology have given North Dakota access to the Bakken Field, an oil-rich shale rock formation in the western region of the state. According to the Energy Information Administration, the oil reserves in North Dakota increased by 46% in 2010. This spike is part of a recent energy boom and, as a result, states like North Dakota and Texas are seeing much greater demand for labor. North Dakota also reports the nation's lowest unemployment rate, which is only 3.1% as of June. Not only do there appear to be more jobs in states with plenty of oil, but news reports suggest that states like North Dakota also offer higher paying jobs. About 2.8% of North Dakota's workforce is employed in mining, quarrying, and oil and gas extraction, the sixth-highest proportion in the nation.

[MikeG22]

Everyone talks of alternatives but what is the answer. Solar? Wind? Electric cars still need energy to run, be it more efficient energy or not they still need it. How do I heat my house? These "alternatives" are decades away and yet that's the only answer for fossil fuel usage.

[JJIII]

Originally Posted by Rex E.

Why, just think if they paid taxes......

Put this... "do oil companies pay taxes" (without the quotation marks) in Google search and tell us what comes up.

[Oerets]

Nobody doubts the need in the short term at least for the use of fossil fuels. But why are issues like conservation of the environment, more economizing of resources used looked down on? Why instead we as a whole seem to be trying to use up every last drop before looking at alternatives. We act like the drunk who will knowingly drink up his last beer then go looking for others beer to have. Never thinking he has a problem, but entitled to the next one.

The resources are finite and once gone are gone for good. Better to prepare when the supply is good then wait until harder to find. I think it is in the latter stages now. A point where few doubt we are at. When the industry is using methods to extract ever decreasing supplies. That will in no doubt contaminate and pollute for many many years long after we are all long gone.

The fact still remains one way or another the reliance on fossil fuels will be over. Better to be ahead of the curve then behind. The country that figures this out and gets a head start will be the powerhouse this century.


Barney

[Rex E.]

Well, I did a little googlin' and I found that the numbers shown above are not accurate. They include taxes paid to foreign govt's, property tax and several others that are not income tax.

oh well...enjoy your fossil fuels.

Just think if they could actually charge you for solar....it'd be online quicker than you could turn your head.

[piece-itpete]

Barney I have no problem with attempting to find the next power source, I agree that the country that figures it out will be well positioned to have the new power sources made in China

Although a chilling thought is that there might not be something similarly priced AKA - as cheap.

What I dislike is driving up the cost of gas/oil intentionally. It impacts the poor as a percentage of income much more so than the halves.

Besides, all funds for research will be vacuumed up by unfunded liabilities here shortly.

Pete

[Dondilion]

Originally Posted by piece-itpete

Barney I have no problem with attempting to find the next power source, I agree that the country that figures it out will be well positioned to have the new power sources made in China

Although a chilling thought is that there might not be something similarly priced AKA - as cheap.

What I dislike is driving up the cost of gas/oil intentionally. It impacts the poor as a percentage of income much more so than the halves.

Besides, all funds for research will be vacuumed up by unfunded liabilities here shortly.

Pete

Pete that is not the central issue here.

The issue is whether you want oil in your drinking water.

[Oerets]

We who some would argue the most advanced animals on this planet are doing a poor job taking care of our world. With a report from the UN due to be released clearly stating the rise of CO2 is related to humans, causing the arctic to melt and the seas to rise.

Polluting our water all for a very few years of easy living and profits for a few. Trust me that in the future our time will be cursed for our lack of stewardship and total selfishness.



Barney