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Resolute Conservative,,, bump

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Oil Companies Reap Huge Profits While Blaming Grain Prices

Compiled By Staff
April 24, 2008

While the oil industry has been quick to blame corn ethanol and grain prices for high food costs, they fail to recognize the profits of their own companies are the bigger culprit of high food costs, according to the Nebraska Corn Board.

“Farmers have been taking it on the chin while oil companies are raking in record profits,” says Don Hutchens, executive director of the Nebraska Corn Board.

Exxon alone had profits of $40.7 billion last year, while the five leading oil companies had a combined profit of $123 billion. Ironically, the entire U.S. corn crop for 2006-07 had a gross value of $32 billion, and only 20% of that crop was used to produce ethanol.

“When you compare the profit of one oil company last year to the total gross value of an entire year’s U.S. corn crop, you can quickly understand why Congress is asking oil company executives to explain why their profits are hitting record levels while the American consumer pays for those profits at the pump and supermarket,” says Hutchens. “The oil companies are also fighting to keep $18 billion in tax breaks over the next decade.”

According to the National Corn Growers Association, a more logical explanation for this year’s food inflation can be found in examining energy pricing trends. Retail diesel and gasoline prices are up nearly 40% since January 2007. And fuel contributes to costs at every step in the supply chain. A recent analysis by economist John Urbanchuk of LEGC found: “By a factor of two to one, energy prices are the chief factor determining what American families pay at the grocery store.”

Rep. Edward Markey (D.-Mass.), during an early April Congressional hearing, asked oil executives how their five leading oil companies can share $123 billion profits in one year while the American taxpayer is paying record gas prices. Markey is chairman of the Select Committee on Energy Independence and Global Warming.

According to Hutchens, “Our perspective is that they have not shown much support and have in fact tried to shift the blame of subsidies and high food costs to the American farmer. In reality, the American farmer has worked hard for the last 30 years to show the benefits of a renewable energy source like ethanol.”

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to early in the morning for that,,,now quit

good reporting SandRat

This is was BIG!

you in Mississippi come on over just west of Natchez about 15 miles on 84-west , turn right at Frogmore go about 6-miles to the levee we’re on the left.

Boucherie! for the good times , need a chousion de lais , check my spelling .

Looks YUMMY! He can move next door to me!

worth repeating

mite try the the 31 th annual chitlin' cooking at Dunbarton Plantation 71343 ( Close on the zip code) , Louisiana this saturday

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thanks,,, gotta bookmark this

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Between Katrina trash and illegals, Texas is doomed.

And all my XXXXXXXXX's Live in Texas . Thank GOD and grayhound they're gone.

you bleeding heart people get to me,,,,,,

you want the government to handle every thing,,,,,

STARVATION OF WILD HORSES Posted: Jan 12, 2008 at 6:48 PM Read an article in the Jan 15th issue of QUARTER HORSE NEWS, page196.. how the BLM starved over 800 head of horses in Palamino Valley Nevada.. 185 died.. NO WATER, NO FEED.. and they knew about it.. but did not do anything.. I am not a wild horse fan nor a BLM fan either.. but i know that the BLM has put people in jail for not feeding one of there adopted horses.. they should ALL be fired from the top down.. this article should make its way to every desk in Washington DC.. and we as a group can bring it to the attention of a LOT of people.. IF you have a light stomach.. do not read this article.. The whole BLM Horse program should be halted and investigated... Just hold a sale and sell them.. we need to make some noise and make some heads roll.. Re: STARVATION OF WILD HORSES Posted: Jan 12, 2008 at 8:35 PM What a sad story. Unfortunately, there are way TOO many unwanted or wanted horses that are not getting the hay they need this winter. I just sat down for a quick bite before moving hay when a neighbor called to ask if two of my horses were out. All of mine were looking in the direction of these horses. I threw halters, lead ropes, and some oats in the truck and off we went. When I got the horses back to where they came from, the guy said "I was trying to stretch the hay, but I guess I can't". I agree with you totally. If these people knew what was happening, they should have done something! Post: Delete | Edit | Report .......... Re: STARVATION OF WILD HORSES Posted: Jan 13, 2008 at 11:40 AM I do not get the QH News but all other media indicates that the 180 horses that died were part of a 1000 head herd brought in from NW Nevada that were starving from drought conditions to begin with. When reintroduced to feed again, their systems went into shock. I know when living out in Nevada that BLM use to throw hay out to the mustangs when feed was short but they could never do anything about lack of water. I am sure with competition from deer and elk that the mustangs were part of the natural evolution of life in the desert. Sometimes I think we should just let nature take its course. If you think the BLM is bad, you should see what happens to the mustangs after adoption. In Vegas, my ex and I saw dozens ruined by people that wanted a cheap horse and had no business with even a domestic horse. Most got foundered from feeding too rich food. From protein boils on their bodies to hoof abcesses. Their systems are not made to metabolize grain or anything but real basic grass hay. Others were neglected and left in small pens in backyards with no vet care or hoof trimming because they became unmanagable. We rescued several mustangs from people that had just locked these animals away with next stop, slaughter house. We broke them and they have jobs. Bucky is working in the Callaway County auction house sorting cattle. We originally found him as a 3 year old stud colt in a 10 x 10 pen in Vegas. He was one of the toughest to break. So as you can tell, I think that the adoption program is the true cruelty. I still have Mr. Murphy who I saved from the slaughter floor. He was severely foundered twice from people feeding him grain and alfalfa. (And these were so called professionals). He was originally broke in the Susanville prison in CA and was a great riding horse. He is about 27 years old and has been retired to raising babies. Let the QH News follow the life of some of these adopted mustangs. Post: Delete | Edit | Report ........ Re: STARVATION OF WILD HORSES Posted: Jan 13, 2008 at 3:03 PM I have this whole article for those that do not take the quarter horse news or can not get one.. however i can not post it until it hits the newstands... which is a few more days.. i will post it then.. what you have said pbear is true.. in this instance it was the lack of water that killed most of them.. and now there about too spend another 300 thousand on another phoney adoption scheme.. instead of selling the 30 thousand they have in corrals now.. who ever knows a congress man, or newspaper owner needs to get this story out.. heads need to roll.

I suggest that Danny boy here not drive on the Jefferson Davis Highway, and instead drive on the Lee Highway “up” the Shenandoah Valley (U.S. Route 11). That’ll really get his goat!

And Dannie boy can drive on the Jefferson Davis Memorial Highway , U.S. hwy-80 between Selma and Montgomery ,Alabama or the Jefferson Davis Boulevard in Selma

Thanks for posting.

w/ 30 something head , you have the injured , sick and just out-right mean horses you can't train or ride. Horses are a business not just pets.

gotta pass it on have a daughter getting married in june

Socrates died from an overdose of wedlock.

Best one I've heard lately