Pelosi Flip Flops On Drilling But Only If Taxes Are Raised

[red states rule]

So San Fran Nan says OK to more drilling, but only if taxes are raised on oil companies

This bill is DOA



Democrats to offer bill with offshore oil drilling

By Tom Doggett
Sat Aug 16, 11:11 AM ET

WASHINGTON (Reuters) - House Speaker Nancy Pelosi said on Saturday when the U.S. Congress returns next month from its summer recess, Democrats will offer legislation that could give oil companies drilling access to more offshore areas.

By moving to open additional federal waters to energy exploration, Democrats could narrow the differences they have with Republicans on tackling America's energy problems, a concern that ranks high with voters heading into the November presidential and congressional elections.

Democratic presidential candidate Barack Obama has changed his position and said he would be willing to consider new offshore drilling if it allowed comprehensive energy legislation to pass. His Republican challenger, John McCain, also switched his position and has called for opening most U.S. waters to drilling if the affected states agree.

In the Democrats' weekly radio address, Pelosi of California said expanding drilling areas would be part of a broader bill which addresses other energy issues.

"It will consider opening portions of the (offshore) Outer Continental Shelf for drilling, with appropriate safeguards, and without taxpayer subsidies to Big Oil," she said.

Pelosi said the legislation would require oil companies to pay billions of dollars in drilling royalties, which would be invested in clean energy resources.

http://news.yahoo.com/s/nm/20080816/pl_nm/usa_democrats_oil_dc;_ylt=AjuUQSl55OH7cj8yPEvLLb.M wfIE

[Joe Steel]

So San Fran Nan says OK to more drilling, but only if taxes are raised on oil companies

This bill is DOA



I guess the Republicons aren't interested in solving the energy problem.

Maybe they should just stick to throwing tantrums. Apparently, that's what they do best.

[red states rule]

I guess the Republicons aren't interested in solving the energy problem.

Maybe they should just stick to throwing tantrums. Apparently, that's what they do best.

In the second quarter, Exxon made $41 billion. They paid $30 billion in taxes. Profit was $11 billion

How much more in taxes do you want them pay Joe?

[AFbombloader]

I guess the Republicons aren't interested in solving the energy problem.

Maybe they should just stick to throwing tantrums. Apparently, that's what they do best.

Get real! We do want the energy situation solved, we just don't want to take anything off the table. We should be doing everything we can to get off foreign oil. To incluse drilling for and processing more oil in America. We should also find other sources for energy, and conserve. It is the Dems who are not trying to solve this issue. They are the one's who don't want to vote on this. Which goes against what the majority of Americans want doesn't it?

Nearly two-thirds of Americans (64%) support going ahead with offshore oil drilling, an issue that John McCain seized on in early June as a way to help lower gas prices and has since forced Barack Obama to at least partially agree with.

http://www.rasmussenreports.com/public_content/politics/issues2/articles/64_now_support_offshore_drilling_42_see_it_as_best _way_to_reduce_oil_prices

AF:salute:

[red states rule]

Get real! We do want the energy situation solved, we just don't want to take anything off the table. We should be doing everything we can to get off foreign oil. To incluse drilling for and processing more oil in America. We should also find other sources for energy, and conserve. It is the Dems who are not trying to solve this issue. They are the one's who don't want to vote on this. Which goes against what the majority of Americans want doesn't it?

Nearly two-thirds of Americans (64%) support going ahead with offshore oil drilling, an issue that John McCain seized on in early June as a way to help lower gas prices and has since forced Barack Obama to at least partially agree with.

http://www.rasmussenreports.com/public_content/politics/issues2/articles/64_now_support_offshore_drilling_42_see_it_as_best _way_to_reduce_oil_prices

AF:salute:

Joe always starts his day with a good breakfast


http://farm2.static.flickr.com/1119/852860405_485874edec_o.jpg

[Joe Steel]

In the second quarter, Exxon made $41 billion. They paid $30 billion in taxes. Profit was $11 billion

How much more in taxes do you want them pay Joe?

That's impossible to say without a fair analysis of its financial condition. Generally, though; more.

[Joe Steel]

Get real! We do want the energy situation solved, we just don't want to take anything off the table.

The Republicon's tantrum was about more drilling only.

"Drill here! Drill now!"

Remember?

[Kathianne]

The Republicon's tantrum was about more drilling only.

"Drill here! Drill now!"

Remember?

In order to get that too on the table. You are a troll. :trolls:

[Trigg]

That's impossible to say without a fair analysis of its financial condition. Generally, though; more.

When you start giving the gov. 75% of your profits we'll start calling this fair.

They're a company like any other and they do deserve to make a profit

[avatar4321]

I guess the Republicons aren't interested in solving the energy problem.

Maybe they should just stick to throwing tantrums. Apparently, that's what they do best.

How exactly is it solving the problem to counteract any productive legislation you make by artificially increasing the prices before anything takes affect?

If you have a bill that actually addresses the problems then let's see it. But if you are just going to say you are trying to address the problem while delibrately making it worse, then you are disingenous so shut up.

[avatar4321]

That's impossible to say without a fair analysis of its financial condition. Generally, though; more.

are you actually suggesting they should be taxed more than 75%?

[red states rule]

are you actually suggesting they should be taxed more than 75%?

He probably agrees with folks like Maxine Walters and wants to government to take over the oil companies

[AFbombloader]

The Republicon's tantrum was about more drilling only.

"Drill here! Drill now!"

Remember?

This is the only way they cound get any attention on the subject. If we continue on the path the green leftists are trying to take us we will all be riding bikes! Anything taken to the extreme is not healthy.
If you would listen to the republicans, you would see that the "drill here, drill now" is only a start. There will be more focus on other means of energy. But it will take a combined effort, from both sides.
I think everyone should support drilling in America, because of the jobs it will create for our economy. From the manufacturing of the equipment to the actual drilling and processing of the oil/natural gas. Being against oil drilling in America is being anti-job growth.

AF:salute:

[Joe Steel]

When you start giving the gov. 75% of your profits we'll start calling this fair.

They're a company like any other and they do deserve to make a profit

No one is giving anyone 75% of his profits. These firms pay countless accountants and lawyers countless dollars to find ways to avoid taxes.

They're quite successful at it.

[Joe Steel]

He probably agrees with folks like Maxine Walters and wants to government to take over the oil companies

Yes. The oil companies should be nationalized.

[red states rule]

No one is giving anyone 75% of his profits. These firms pay countless accountants and lawyers countless dollars to find ways to avoid taxes.

They're quite successful at it.

Exxon Spends $1 Billion Per Day To Operate


This is something the liberal media and Dems never talk about. Meanwhile, ABC tires to attack Exxon for making a proft


ExxonMobil CEO Defends High Profits
Rex Tillerson Discusses Industry's Future in Exclusive Interview With Charles Gibson

ExxonMobil CEO and chairman Rex Tillerson defended his company's staggering $11.7 billion in profits for the second quarter, saying that the company's earnings reflected the magnitude of its business operation

"I saw someone characterize our profits the other day in terms of $1,400 in profit per second. Well, they also need to understand we paid $4,000 a second in taxes, and we spent $15,000 a second in cost," Tillerson told ABC News' Charles Gibson. "We spend $1 billion a day just running our business. So this is a business where large numbers are just characteristic of it."

ExxonMobil earned the best quarterly profit ever for a corporation, up 14 percent from last year but still below investors' expectations. While Wall Street was slightly disappointed by Exxon's earnings, some Americans were outraged by what they saw as big oil profiting at their expense. Tillerson recognized that consumers are angry about the escalating price of gas.

http://abcnews.go.com/Business/story?id=5574568&page=1



and


Exxon Posts Record $32.36 Billion Tax Payment
by red states rule on Sat Aug 02, 2008 7:20 am

The messiah lnown as Obama, and the liberal media in in a tizzy over the profits of Exxon. What they will not talk about is the RECORD TAX bill Exxon paid


According to CNN, Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.
That profit works out to $1,485.55 a second.


Buried in the story we also find that "In addition to making hefty profits, Exxon also had a hefty tax bill. Worldwide, the company paid $10.5 billion in income taxes in the second quarter, $9.5 billion in sales taxes, and over $12 billion in what it called 'other taxes.'"


MP: In other words, Exxon Mobil paid $32.361 billion in taxes in the second quarter, which works out to $4,114 in taxes per second. Another way to look at it - Exxon paid almost $3 in taxes ($32.361 billion) for every $1 in profits ($11.68 billion)

[Joe Steel]

I think everyone should support drilling in America, because of the jobs it will create for our economy. From the manufacturing of the equipment to the actual drilling and processing of the oil/natural gas. Being against oil drilling in America is being anti-job growth.

AF:salute:

Nonsense. Converting to green energy will create far, far more jobs than it will cost.

[red states rule]

Nonsense. Converting to green energy will create far, far more jobs than it will cost.

Your source for that comment, and how long will it take for those jobs to be created?

[DragonStryk72]

Yes. The oil companies should be nationalized.

Yeah, cause our government's done so well with running things financially, I mean, it's not like they might fuck it up.

[Joe Steel]

Exxon Spends $1 Billion Per Day To Operate

This is something the liberal media and Dems never talk about. Meanwhile, ABC tires to attack Exxon for making a proft

ExxonMobil CEO Defends High Profits
Rex Tillerson Discusses Industry's Future in Exclusive Interview With Charles Gibson

ExxonMobil CEO and chairman Rex Tillerson defended his company's staggering $11.7 billion in profits for the second quarter, saying that the company's earnings reflected the magnitude of its business operation

"I saw someone characterize our profits the other day in terms of $1,400 in profit per second. Well, they also need to understand we paid $4,000 a second in taxes, and we spent $15,000 a second in cost," Tillerson told ABC News' Charles Gibson. "We spend $1 billion a day just running our business. So this is a business where large numbers are just characteristic of it."

ExxonMobil earned the best quarterly profit ever for a corporation, up 14 percent from last year but still below investors' expectations. While Wall Street was slightly disappointed by Exxon's earnings, some Americans were outraged by what they saw as big oil profiting at their expense. Tillerson recognized that consumers are angry about the escalating price of gas.

http://abcnews.go.com/Business/story?id=5574568&page=1



and


Exxon Posts Record $32.36 Billion Tax Payment
by red states rule on Sat Aug 02, 2008 7:20 am

The messiah lnown as Obama, and the liberal media in in a tizzy over the profits of Exxon. What they will not talk about is the RECORD TAX bill Exxon paid


According to CNN, Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.
That profit works out to $1,485.55 a second.


Buried in the story we also find that "In addition to making hefty profits, Exxon also had a hefty tax bill. Worldwide, the company paid $10.5 billion in income taxes in the second quarter, $9.5 billion in sales taxes, and over $12 billion in what it called 'other taxes.'"


MP: In other words, Exxon Mobil paid $32.361 billion in taxes in the second quarter, which works out to $4,114 in taxes per second. Another way to look at it - Exxon paid almost $3 in taxes ($32.361 billion) for every $1 in profits ($11.68 billion)


So?

Unless we have a complete picture of the firm's financial condition, we can't say any particular level of taxation is sufficient. Is a 3:1 profit to tax ratio enough or too much? We can't say until we see the whole picture and debate it in the context of the whole economy.

[Joe Steel]

Your source for that comment, and how long will it take for those jobs to be created?

Do some research.

Here's something to get you started:

"CleanEdge.org reports clean/green technology as the third largest venture capital investment category in 2006. In California alone, investments in clean tech could create up to 114,000 new jobs by 2010.

Creating Green-Collar Jobs (http://www.tompaine.com/articles/2007/01/23
/creating_greencollar_jobs.php)

[red states rule]

So?

Unless we have a complete picture of the firm's financial condition, we can't say any particular level of taxation is sufficient. Is a 3:1 profit to tax ratio enough or too much? We can't say until we see the whole picture and debate it in the context of the whole economy.

Joe, please read

Exxon paid almost $3 in taxes ($32.361 billion) for every $1 in profits ($11.68 billion)

I know it is a waste of time to present facts to you - but I keep trying

[Joe Steel]

Joe, please read

Exxon paid almost $3 in taxes ($32.361 billion) for every $1 in profits ($11.68 billion)

I know it is a waste of time to present facts to you - but I keep trying

OK. 3:1 tax to profit.

What's you point? What does it prove?

How was the profit was calculated? GAAP?

[red states rule]

OK. 3:1 tax to profit.

What's you point? What does it prove?

How was the profit was calculated? GAAP?

The point is, like the rest of us, Exxon is overtaxed. The government makes more in taxes off the sale of a gallon of gas, then the oil companies make in profit