who is really making windfall profits from oil?

Business and Media Institute ^ | Nathan Burchfiel

[edzo4]

ExxonMobil and other oil companies have a responsibility to their employees and shareholders to make a profit and maintain corporate stability. Oil companies need profits so they can invest in finding and producing more oil.

And the media don’t look at profits versus expenditures in context. Over the last 25 years, ExxonMobil, for one, has reported profits of $331 billion. It has invested $355 billion back into its business over the same time period, according to spokesman Gantt Walton.

“We’ve invested more in the business than we’ve earned,” Walton said. “You can’t just take snapshots in time because it’s really just a reflection of the commodity price.”

Neither do the media focus on taxes paid by oil companies. Exxon paid $105 billion in taxes in 2007, Walton said, more than two-and-a-half times as much as it made in profit.

[edzo4]

Exxon paid $105 billion in taxes in 2007, Walton said, more than two-and-a-half times as much as it made in profit.

John Lott has pointed out, in the past 25 years oil companies have paid more than three times in taxes what they have made in profits.

So who is really reaping the windfall profits?

[RightWhale]

Gummint is, but they don’t call it profit. It’s revenue. Alaska is $9 billion ahead this year. It won’t last, but it’s there now.

[webheart]

Oil companies are stupid. I was at the gym the other day, where the TV’s suspended above the exercise machines play CNN Headline News constantly, and during 1 hour, there was like 4 ads by a consortium of petroleum companies trying to convince people that energy companies are not evil, and there were commercials for BP. CNN is their enemy, and they give CNN the revenue to stay alive. If I were in charge at any energy company, I would not advertise on any network that delivered “news.”

[massgopguy]

A windfall profit can only been realized by an entity which had nothing to do with the generation of the revenue. To wit, the Government.

[massgopguy]

A windfall profit can only been realized by an entity which had nothing to do with the generation of the revenue. To wit, the Government.

[ken21]

there are a lot of people that i’ve talked to

that simply will not believe me when i make your points.

they think i’m lying.

[Spok]

Whenever there is an economic problem, especially commodities cost/production, etc., the Marxist immediately concludes that someone has to be punished, i.e., taxed, fined, jailed or shot. Obama’s response to oil prices is true to form. When I hear it from liberals, I tell them to get their emotions under control, can the hate speech, and try to be more constructive with ideas like loosening regulation and creating more incentives. Making money through means other than compulsory tax collection is NOT a sin.

[chainsaw]

To listen to the rive by media you would think ExonMobil is the largest Oil company in the world. Actually they rank 15th in size.

[what's up]

I read that Exxon Mobile is the only major oil company which does not give same-sex benefits.

Good for them.

[11th Commandment]

Companies Liberal HATE and their Profits:

Company	Profit %
XOM (Exxon)	10.0%
CVX (Chevron)	8.5%
COP (Conoco)	6.1%
HAL (Halliburton)	16.6%

 

Companies Liberal's Love and their Profit

Company	Profit %
SBUX (Starbucks)	11.5%
AAPL (Apple)	42.9%
MSFT (Microsoft)	30.4%
GS   (Goldman's)	13.2%

[Ditto]

A windfall profit can only been realized by an entity which had nothing to do with the generation of the revenue.

I'm thinking about former politicians who can command a $200,000 fee for a 20 minute talk.

Now those are Windfall profits since the guy without ever having held a federal office would be of no interest to anyone.

Perhaps we need to add an amendment to the Democrats corporate bashing bill that would put a 95% tax rate on speaking fees of former Federal office holders.

[Bobsvainbabblings]

This is one more article to confuse the issue and hide who is taking it in the shorts and who has the Vaseline with sand in it.

The oil companies, or any other business do not pay corporate income tax. Their customers, you and I, do when we purchase their products. Companies include them as a cost and pass them on to the government.

The politicians and the media, including the ones that are supposed to be on our side, never speak to this so the average person gets a giddy when they tell them they are going to stick it to Big Oil. When the cameras are off, they high five each other on both sides of the aisle. They are all laughing about how stupid we are and how easy it is to screw us out of even more money.

What scares me the most is there are 11 posts previous to mine and not one speaks to who is actually paying the tax. I have witness the same thing reading similar posts. I would like to think Freepers are smarter than that. It proves how well the brainwash is working. BVB

[Recovering_Democrat]

[Aria]

As my husband says....it's all about the money. The environmentalists are all about the money...our government is all about the money even though they cloak it in other words.

We have a rich country - it took us until almost $5/gallon to begin to change our ways. From $2 to $5 was apparently too much money left on the table to resist.

[edzo4]

I almost forgot the tobacco companies

the cigarette companies make about $0.25 cents per pack of cigarettes while the gubbamint takes in on average more than $2.00 per pack

hippocrites...

[SunTzuWu]

The oil companies, or any other business do not pay corporate income tax. Their customers, you and I, do when we purchase their products.

That's the same as saying that oil companies don't pay for liability insurance, or super tankers or payroll for employees. All these are costs of doing business. They are part of the companies overhead and must be accounted for before anybody talks about profit. ALL overhead costs are paid for by the customers.