Posted on 11/08/2011 12:36:20 PM PST by 92nina
Not cheering yet? You should be. In all likelihood, you are Big Oil.
Nearly half the population holds stock in oil and natural gas companies through pension funds—there are 145 million retirement accounts invested in oil and natural gas companies. The average value of these pension accounts is less than $55,000. 48.6 million American families hold IRAs that are invested in oil and natural gas companies—80 percent of these IRA holders earn $70,000 or less. All in all, corporate management owns 2.8 percent of oil companies; middle class Americans largely own the rest. But Americans looking to retire comfortably aren’t the only ones pulling for oil and natural gas companies—so are the millions employed by the industry. Each well an oil and natural gas producer drills costs millions, sometimes billions of dollars. This money is spent purchasing drill bits from Wisconsin, steel from Pennsylvania, computers from California, and assets from every other state. Paying their workers a premium of $96,844, more than twice the national average, oil and natural gas companies ensure their employees are well compensated.
The pending Keystone Pipeline XL—an oil pipeline that would deliver crude oil from Canada to refiners in Oklahoma and Texas—is a great case study. Providing an immediate boon to the struggling Midwest, the project is slated to cost about $12 billion dollars and would create 13,000 construction jobs. Just as important is the ripple effect the Keystone pipeline would have on the larger American economy. The Keystone pipeline would create over 340,000 additional U.S. jobs between 2011 and 2015 in related manufacturing and service industries.
Read more: http://www.atr.org/oil-companies-make-billions-profits-a6575#ixzz1d9DKL79j
Take this article and others I found to the fight to the Libs on their own turf; put the Left on the defensive at Digg and at Reddit and in Stumbleupon and Delicious
It’s the government - federal, state and city from all the taxes they collect. They make more than the oil companies.
the investors.
the people who consume oil products for cars, textiles, etc etc etc.
the companies that supply the oil co’s.
When Big Oil profits, all the folks who hold stock in the companies profit, as well, in the form of dividends, or higher share prices.
Take away the taxes, federal state and local........gas is now 1.67 a gallon who’s raping us?
Take away the taxes, federal state and local........gas is now 1.67 a gallon who’s raping us?
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