Major oil companies expected to report, defend big profits

Jul 25, 2011 | Posted by: Mr_Bill | Full story: www.mysanantonio.com

Big Oil is expected to report another round of big profits this week after sharply higher crude prices during the second quarter helped boost their bottom lines, but few Americans are likely to celebrate the achievement.

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Pound_Puppy

Cleveland, OH

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#1
Jul 25, 2011
 

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And we still give them tax breaks and subsidies? Why?

Weren't these the execs that went to DC (in their corporate jets) pleading for these breaks and subsidies just a few months ago? Arguing that losing them would basically put their companies out of business?

The shareholders are dancing.
Lance Winslow

San Francisco, CA

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#2
Jul 25, 2011
 

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Pound_Puppy wrote:
And we still give them tax breaks and subsidies? Why?
Weren't these the execs that went to DC (in their corporate jets) pleading for these breaks and subsidies just a few months ago? Arguing that losing them would basically put their companies out of business?
The shareholders are dancing.
Tax breaks and subsidies are the motivator of GOP PACs' funding. That's why.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

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#3
Jul 25, 2011
 

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Pound_Puppy wrote:
And we still give them tax breaks and subsidies? Why?
Weren't these the execs that went to DC (in their corporate jets) pleading for these breaks and subsidies just a few months ago? Arguing that losing them would basically put their companies out of business?
The shareholders are dancing.
Because thay pay for congress.
Will congress address this? NO.
They are too busy chasing their tails, and transferring the tax burden from the rich to the middle income.
Roosevelt

Mcintosh, MN

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#4
Jul 25, 2011
 
101 economics: surplus of oil and less demand so the price should be going down not up.

Since: Feb 08

Hypoluxo Fl

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#5
Jul 25, 2011
 

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Roosevelt wrote:
101 economics: surplus of oil and less demand so the price should be going down not up.
Practical oil company economics. When supply is too high, create a shortage by less refining. Don't you ever notice that refinery maintenance always coincides with the increase of gas prices. They manipulate this all the time.
Sheik Yerbouti

New Hope, PA

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#6
Jul 25, 2011
 

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Actually it was the auto execs that went to DC in their corporate jets to beg stimulus money from congress. Nothing will be done about this because corporations fund both parties and they serve their masters very well. Both parties have dropped the pretense of serving the interests of the average citizen.

Since: Aug 10

Atlanta, GA

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#7
Jul 25, 2011
 
Pound_Puppy wrote:
And we still give them tax breaks and subsidies? Why?
Weren't these the execs that went to DC (in their corporate jets) pleading for these breaks and subsidies just a few months ago? Arguing that losing them would basically put their companies out of business?
The shareholders are dancing.
Pray tell how are they going to pay all their executives millions of dollars in salaries and benefits?
questioner

Doss, TX

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#8
Jul 25, 2011
 
Guys, guys these are the 'job creators' just think of all the jobs they will create if we give them a (another) tax break. What they really need is a reduction in the corporate tax rate ... to be more profitable ... and create jobs ....
I can read

Edinburgh, UK

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#9
Jul 25, 2011
 

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Roosevelt wrote:
101 economics: surplus of oil and less demand so the price should be going down not up.
101 economics. Some goods have inelastic demand where the demand won't drop much at all even after a large price increase.

Most of these goods are things people are addicted to.
roaddog

Nashville, TN

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#10
Jul 25, 2011
 

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questioner wrote:
Guys, guys these are the 'job creators' just think of all the jobs they will create if we give them a (another) tax break. What they really need is a reduction in the corporate tax rate ... to be more profitable ... and create jobs ....
repubs in D.C. have agreed not to use the word rich any more when referring to the wealthy. They are to use the phrase "job creators" instead. What a f*cking joke. Don't most of the jobs in this country come from small businesses?
cjrian

United States

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#11
Jul 25, 2011
 

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roaddog wrote:
repubs in D.C. have agreed not to use the word rich any more when referring to the wealthy. They are to use the phrase "job creators" instead. What a f*cking joke. Don't most of the jobs in this country come from small businesses?
Many of those small business owners earn $250K -$500K, fitting Obamas definition of "Millionaires and Billionaires". In other words, they are the very same people that Obama wants to tax the snot out of (if they survive the great mass of incoherent regulations coming their way).
roaddog

Nashville, TN

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#12
Jul 25, 2011
 

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Obama was talking about the top 1 or 2%. That does not mean these people. And bonehead boner was reading a, drum roll please......TELEPROMPTER. repukelicans hate that. faux news, LOL!!!
cjrian

United States

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#13
Jul 25, 2011
 

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roaddog wrote:
Obama was talking about the top 1 or 2%. That does not mean these people. And bonehead boner was reading a, drum roll please......TELEPROMPTER. repukelicans hate that. faux news, LOL!!!
That IS the definition of the top 1% & 2%

Top 1%- over $363K
Top 2%- over $250K -$363K
Top 3%- over $200K -$250K

Yeah the same "Millionaires and Billionaires" are the ones who hire.

But does Boehner use a Teleprompter to order lunch?
(too bad Obama can't remember HIS "talking points" with just a couple notations on his hand)
roaddog

Nashville, TN

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#14
Jul 25, 2011
 

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cjrian wrote:
<quoted text>
Many of those small business owners earn $250K -$500K, fitting Obamas definition of "Millionaires and Billionaires". In other words, they are the very same people that Obama wants to tax the snot out of (if they survive the great mass of incoherent regulations coming their way).
Ok your point is taken but you still don't have an opponent yet for Obama. Looks like a whole bunch of nothin. And these business owners probably do not make $250K -$500K after expenses are taken out, so I doubt if that is their reported income. I just don't understand the fact that they were paying higher rates before and we did ok. I won't say faux news, LOL!!!
cjrian

United States

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#15
Jul 25, 2011
 

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roaddog wrote:
Ok your point is taken but you still don't have an opponent yet for Obama. Looks like a whole bunch of nothin. And these business owners probably do not make $250K -$500K after expenses are taken out, so I doubt if that is their reported income. I just don't understand the fact that they were paying higher rates before and we did ok. I won't say faux news, LOL!!!
AN opponent?
Repubs have got at least 17, maybe more.
It's still 17 months until the National Convention, there's time

Obama wasn't THE Dem candidate until just before the Dem Convention.
Even AT the Dem Convention, though Obama was the favored candidate, Hillary still threatened and Obama wasn't guaranteed shoe-in.

Why give the Dems a clear target NOW?

==========

The very definition of the top 2% of earners is an income of $250K and over

Most small businesses are incorporated as LLC's or LLP's and business income is reported on personal tax filings. This means that they miss out on many deductions that C corps get.

These people/companies may have doing ok before, at higher rates, but perhaps they could have done better with lower rates? We ALREADY HAVE the highest corporate tax rates in the OECD. We have some of the highest personal tax rates in the world. There is a tidal wave of regulations in the pipeline. PPACA is going to (already doing) severe damage to the business environment. The economic havoc wrought by Obama has disrupted every business environment. And more

Businesses plan long term. RFQ's are being written now for projects that won't begin for 2 or 3 years, but how can any business submit bids when the current environment is so highly unstable? They can't predict what their business taxation level will be. They can't predict labor costs. They can't predict material costs. They can't predict regulatory costs. They can't predict borrowing costs (if funds are even available and banks are will to lend in this uncertainty). They can't even predict their own personal taxation levels. They plain old can't predict much at all. And Obama wonders why it's not business as usual? He's MADE it unusual and unpredictable.

Since: Aug 10

Atlanta, GA

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#16
Jul 26, 2011
 

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questioner wrote:
Guys, guys these are the 'job creators' just think of all the jobs they will create if we give them a (another) tax break. What they really need is a reduction in the corporate tax rate ... to be more profitable ... and create jobs ....
ANY break they get will go into THEIR pockets.

Since: Aug 10

Atlanta, GA

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#17
Jul 26, 2011
 

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cjrian wrote:
<quoted text>
That IS the definition of the top 1% & 2%
Top 1%- over $363K
Top 2%- over $250K -$363K
Top 3%- over $200K -$250K
Yeah the same "Millionaires and Billionaires" are the ones who hire.
But does Boehner use a Teleprompter to order lunch?
(too bad Obama can't remember HIS "talking points" with just a couple notations on his hand)
Where are the jobs these millionaires and billionaires are supposed to be creating? Hmmmm? The only people they've hired so far are cheap foreign labor. Hell, yeah, let's give 'em another tax break. If we all have jobs building yachts we'll be in good shape.

Since: Aug 10

Atlanta, GA

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#18
Jul 26, 2011
 

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roaddog wrote:
<quoted text>repubs in D.C. have agreed not to use the word rich any more when referring to the wealthy. They are to use the phrase "job creators" instead. What a f*cking joke. Don't most of the jobs in this country come from small businesses?
Consider yourself one of the smart ones who figured this out. It's frightening to realize how many idiots there are in America who haven't.
roaddog

Nashville, TN

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#19
Jul 26, 2011
 

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tidy catz wrote:
<quoted text>
Consider yourself one of the smart ones who figured this out. It's frightening to realize how many idiots there are in America who haven't.
That is why faux news gets high ratings,'mericas most abundant resource is ignorance, faux news, LOL!!!
cjrian

United States

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#20
Jul 26, 2011
 

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tidy catz wrote:
Where are the jobs these millionaires and billionaires are supposed to be creating? Hmmmm? The only people they've hired so far are cheap foreign labor. Hell, yeah, let's give 'em another tax break. If we all have jobs building yachts we'll be in good shape.
Dems have destabilized the economic front so badly that it doesn't make any sense to hire now

Employers are facing a tidal wave of new (and inane) regulations
Employers can't predict healthcare expenses (or fines)
Supply prices are unpredictable
Utility prices are unpredictable (if "green" doesn't leave blackout conditions anyway)
Inflation is hitting hard
Personal taxation is unpredictable
Business taxes are unpredictable
Investment funds are insecure (Obama may want to declare them "greedy speculators" and seize their assets)
There remains the potential for Obama to seize retirement assets
Obamas "recovery" has had potential employees on the dole for record lengths of time, while the work skills deteriorate.

And you want employers to invest in employees to make products that they may not be able to sell?

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