Say Anything Blog

While Exxon made over $40 billion in 2007, a 60% increase from 2004, it paid over $100 billion in taxes and royalties.

The Democrats would call this an “obscene profit” if they were consistent and honest.

But they’re not.

Why tie taxes with royalties?

Those poor oil companies having to pay royalties to those peoples they are taking oil from! Oh the injustice!

“All the war-propaganda, all the screaming and lies and hatred, comes invariably from people who are not fighting.”
“Every war when it comes, or before it comes, is represented not as a war but as an act of self-defense against a homicidal maniac.” —George Orwell

Lazy, greedy ND government bureaucrats and their lazy, greedy cronies are laughing all the way to their credit unions!

And who owns the oil companies, anyway? Pension funds, individual investors, mutual funds. And me.

RedPlanetCartoons put up a great illustration of this: http://conservablogs.com/dpgi/?p=480

Why tie taxes with royalties?

Because they’re paid to the government like taxes are.

Those poor oil companies having to pay royalties to those peoples they are taking oil from! Oh the injustice!

Oh, thos sympathetic Democrats! They care so much about the price of gas, until it’s pointed out that a third of it is directly tied to government taxes, more tied to the government indirectly from royalties and regulations. Then they shrug. Not our problem they respond.

What would we do if the Democrats weren’t helping us into the poor house?

Who Owns What Part of What

Get It?

Functional people make intelligent decisions and invest, instead of dropping out of school and procreating too early and too much.

Kevin.  Exactly.  People make choices.  They begin to make choices in school when they decide who to make friends with, to do their homework or not and to do drugs, have sex with and steal.

Communism is evil

Get It?

Yes. The people who make the best choices have the most money. Those who invest move upwards and become more wealthy, while those who don’t...stagnate.

And about 25-30% (it’s hard to read the numbers) are what are considered middle class. Thought Democrats like those middle class types. And what about those poor people (.06%) who want to be upwardly mobile? Should we screw them over and deny them the chance to better themselves either because the rich are doing better or because the rest of their bracket aren’t making good decisions?

Oh those poor poor people who will be screwed because you won’t let them advance.

Why do you hate the poor and middle class Woof?

The problem with liberals is that they are jealous, yet in a perverse way.  They don’t mind the Barbara Strisands or the George Clooneys, but let a level headed person make a million or two and watch out!  Somehow he is “holding down the poor”.  What a bunch of flakes!  Gasoline costs less than it did in 1973 adjusted for inflation.  The fact that the tree huggers and bug lovers have blocked every attempt at drilling in our country certainly has added to the shortage of POL products world-wide.

Communism is evil

"Anarchist” Vegetarian - Those poor oil companies having to pay royalties to those peoples they are taking oil from! Oh the injustice!

It’s a tax destined for redistribution by order of the government. You can emotionalize the issue all you want, but in the end, that’s what it is. Those who are taxed are those who put in risk, which in this case equals capital. The oil wouldn’t even come out of the ground if it weren’t for these people.

And maybe you don’t know this, but Rob used to live in Alaska. He was one of “those peoples” who got money by the simple virtue of existing. Alaska is the only state in the nation where redistribution of wealth is written into the state Constitution.

WOOF tries his hand at class envy, Who Owns What Part of What

Then he shows us a class wealth chart. Then he gallingly says,

Get It?

Oh, we get it quite alright WOOF. Richer people are the ones who tend to risk the most capital in these endeavors.

Like, no shit, Sherlock. Way to point out the obvious. Did you think you were illuminating some amazing point?

So Kevin,Chief RZ, and Kenny I am to assume that y’all are the people who made the best choices and have the most money. You are the ones who invested moved upwards and became more wealthy. While us who don’t...stagnated. Right?

So Kevin,Chief RZ, and Kenny I am to assume that y’all are the people who made the best choices and have the most money. You are the ones who invested moved upwards and became more wealthy. While us who don’t...stagnated. Right?

I am moving up. Busting my hump to get raises and promotions. I’m making more money this year than last, and more that year than the one before.

Actually, I haven’t always made the best choices. And it’s put me further back than I should be. I’m not blaming others for my problems. I’m not demanding handouts to fix my situation. I’m doing it with hard work, determination, and very, very little sleep.

I’ve waited many decades to see an honest evaluation of Oil Company taxation, and reputation, etc.
This is pretty good, for a short piece.

I speak as the daughter of a plain oil field worker ... most of that time, a welder, who worked in the business for about 40 years or more. We watched the government kill the business in the late ‘70’s, early ‘80’s with a couple of well-places “stupid” regulations. Literally two is enough, if they are strategic enough.

After a while, when ALL their regulations are “stupid”, and they don’t reverse themselves when they see they are killing an American enterprise off and leaving America vulnerable, you have to figure, no stupid person you know is that CONSISTENT (although many are getting better with practice, these days) - so this isn’t about “stupid” - really!

I must say you have very well put up the article

Thank you for such a nice post

Cool Hoodies

The lamestream media, bureaucRATS, are counting on the less-intelligent public to know nothing of basic accounting, profit/profit margin. Just what we want is more of this stinking government poking in private business.

Lets not forget that gas prices are driven up by local and state requirements.

Last year I went to explore some lava tubes on the big island of Hawaii. When I returned the rental car at the Hilo airport, I paid less for gasoline than I paid two dasy later at a Costco in Southern California.

Clearly government regulations are what’s making California prices so high.

ellinas.  Good choices in life not only allow one to have more choices, but more in control of their lives because they are not dependent upon some government to decide and tell them how to live.  Good choices also involve medical outcomes.  For example, not using IV drugs keeps one from contacting HIV/AIDS.  Avoiding risky sexual behaviors does the same.  Working two and three jobs when one is healthy instead of going out to “clubs” and engaging in risky sexual activities tends to protect one from that lifestyle.  People make choices.  Don’t get me wrong, people are free to choose their lifestyle and I will not comment, until they ask or demand from me payments for their poor choices.  They nor I are free then.  Why are people not complaining about water costing $6.40 per gallon? Can you imagine the profit from that???!!

Communism is evil

One thing people are forgetting here is that it’s not exactly like the oil companies are paying these taxes.  My intent here was never to say “Oh, poor oil companies.” My intent was to say “Oh, poor us.” Because we’re the ones paying these taxes.  The oil industry is just passing them on to us.

They’re included in that $3.00/gallon we’re paying at the pump.

The war against illegal plunder has been fought since the beginning of the world. But how is… legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime. Then abolish this law without delay … If such a law is not abolished immediately it will spread, multiply and develop into a system.

Frédéric Bastiat, The Law

Rob’s recently listened-to songs:

Chief RZ we are talking about financial choices. So I will again assume that none of you have invested in the market, or have not invested enough to make a difference in your finances. Why is that? Is it because you do not have enough left after expenses to invest? What happened. You all knew the wisdom of good choices. What prevented you other than not having enough to invest? Are you guys in the same boat as the ones you are decrying? The daily grind left you with nothing or very little to invest?

My intent was to say “Oh, poor us.” Because we’re the ones paying these taxes.  The oil industry is just passing them on to us.

Rob,

Good point!  Corporation don’t pay taxes… they merely collect taxes on behalf of government.

People who advocate raising taxes in response to higher gas prices are either incredibly ignorant or incredibly dishonest.

“Poverty of goods is easily cured; poverty of the mind is irreparable.”

You all knew the wisdom of good choices. What prevented you other than not having enough to invest? Are you guys in the same boat as the ones you are decrying? The daily grind left you with nothing or very little to invest?

e,

Your mini-diatribe here assumes you know things about the finances of others that you clearly do not.  However, what you’ve written does have value as the basis for a pretty powerful argument in favor of the privatization of the Social Security system.  After all, if saving and investing is too difficult for so many individuals, as you seem to be implying here, then clearly the answer is to substantially increase the rate of return on that money which is devoted to savings and retirement.  And of course, as in any other transaction, an increase in the return on money spent/invested is likely to actually increase the amount of money allocated.  The higher the return, the more money gets invested.

“Poverty of goods is easily cured; poverty of the mind is irreparable.”

Those poor oil companies having to pay royalties to those peoples they are taking oil from! Oh the injustice

Oh, that poor government taking all that money for producing absolutely nothing! Oh, the injustice. That’s how retarded you guys are. Bitch about Exxon making money which is in turn directed to the people and funds that invest in them, oh the injustice. But not one damn word about that big, fat chunk the government (government over all, right. How about some lip service from ya about freedom next)takes because that’s how illogical you are and blind to reason. Way to miss the point as usual. It’s not even any fun anymore pointing-out how retarded the left is. But, I’ll go on and do it anyway, not out of joy, but obligation.

And I am one of those guys that has worked his ass off, sacrificed, and invested and am starting to reap the rewards from it. Sorry Elinas, sorry that people like you have to be haters and try to project your failures onto others, and ask that they help subsidize your piss-poor life choices (reading between the lines). Maybe one of these days your self-loathing will subside long aenough for you to get your crap together and start doing for yourself.

""That’s the problem with you lefties, you’re not willing to get your hands dirty. I’d suggest you roll up your sleeves.”

-Jack Bauer

While Exxon made over $40 billion in 2007, a 60% increase from 2004, it paid over $100 billion in taxes and royalties.

I thought the increase in tax revenues was due to the tax cuts. Dang.

“We have a dollar that’s adjusting and I am for a strong dollar.....
Our dollar doesn’t buy as many barrels of oil as it used to and so therefore it’s more expensive for the American people”..... Bush 3/12/08

I can say a lot to this from a “government” perspective.  I’m an auditor for a state that is rather rich in natural resources.  Believe me when I tell you my state government WANTS his energy prices.  Royalties on ‘minerals’ are calculated from the sales price AND the amount extracted.  If the price of, say, CFM natural gas goes up $1, my state picks up 50 cents.

On the subject of “corporations don’t pay taxes” - that’s generally true, IF they are doing it right and have all of their documents in order.  If not, they get whacked...sometimes VERY hard (plus interest, plus penalty).  Of course these tax programs, like sales tax, are called “voluntary”, but if a company does not license for the program they won’t be allowed to do business.

The Federal tax rate for diesel fuel is $0.244/gallon.  States generally have their own fuel tax that ranges from the low of $0.10 - $0.55/gallon.  Some states even have “surcharges”.  This is another #cents/gallon that is equivalently a “fee” for buying fuel in that state.

So, to summarize: Governments LOVE high energy prices, companies that “do it right” wrt audits also LOVE them, and poor schmucks get to stay poor because we aren’t taught anything about how “money works” in investments until much later in life when it is almost too late.

e,
Your mini-diatribe here assumes you know things about the finances of others that you clearly do not.
Bat One on March 14, 2008 at 10:14 am

Of course my my questions or as you call them “mini-diatribe” in your effort to divert unwanted attention from positions some took are assumptions. I clearly labled them as such:
Chief RZ .......... So I will again assume that none of you have invested in the market, or have not invested enough to make a difference in your finances. Why is that? Is it because you do not have enough left after expenses to invest? What happened. You all knew the wisdom of good choices. What prevented you other than not having enough to invest? Are you guys in the same boat as the ones you are decrying? The daily grind left you with nothing or very little to invest?
ellinas on March 14, 2008 at 09:43 am

Find another way to disredit me. This one is not working in your favor.

I started investing as soon as they invented IRAs, that was before the 401K concept was available.
The fact of the matter is, if one saves the maximum in an 401K starting at age 21 and just did it for ten years, they would have a million dollars at age 65, assuming average historical market returns.

The fact of the matter is, if one saves the maximum in an 401K starting at age 21 and just did it for ten years, they would have a million dollars at age 65, assuming average historical market returns.

Kevin on March 15, 2008 at 07:14 pm

Should read:........ if one is able to save the maximum in an 401K starting at age 21 and just did it for ten years, they would have a million dollars at age 65, assuming inflation did not affect his investment.

ellinas.  Sorry for the delay.  Yes, I invested in AA 88s during the Carter administration that paid about 16% and made a good profit.  I also invested in some stocks, but put a majority of my last seven year’s investment in government TSA bonds at 6%.  Some laughed, but I came out on top of their stock “gambles” by about 2%.  I earned two retirements and am fairly comfortable after working over forty (40) years at two jobs.  Questions?

Communism is evil

Chief, Be careful. Some young blogger girl might try to marry you for your money!