Bush calls to end ban on off shore drilling.

[Dr.Who]

BTW, last quarter Exxon listed the highest quarterly profits in U.S. corporate history ($11.66 billion), as well as record-high annual profits of $40.66 billion in 2007.

If you can show us that they made this money through illegal activities then we should have them prosecuted to the fullest extent of the law. if they have been receiving kickbacks from the governement then these should stop. Otherwise, what's your point? Are you even analyzing the figures correctly?

 

[Libsmasher]

Yeah poor little Exxon Mobil, the largest private oil company in the world. In 2007 they only made a paltry $1252 a second or $111 million a day.

I admit it must be rough to keep a company afloat on such meager returns. Maybe if Exxon reined in the money they've been paying to AGW deniers they might be in better shape. Face it, Exxon Mobil stands for one thing...greed. Excuse me, two things...greed and pollution.

When you're talking about greed, nothing exceeds the greed of government. Government greed makes exxon look like Mother Teresa by comparison.

 

[Bunz]

Exxon also paid over $30 Billion in taxes in 2007 to a government that did a grand total of nothing to drill, refine, ship, or in anyway helped bring any gas to the consumer.

Ill point out that it has taken the state of Alaska bringing Exxon to court to revoke thier leases on the Pt. Thompson field because they have never moved to develop the resource despite thier promises to do so 20 something different times. Now they are saying they will drill. But who knows. It is long rumored and accused that Exxon has been sitting on this to limit supply to the consumer. Government money played a huge role in the development of the TAP.

 

[Bunz]

Probably next Monday, 6/23 or 6/30 the decision will come down from the USSC concerning the Exxon Valdez judgement against Exxon. I have little problem with other producers, especially BP and Conoco Phillips. Who have been overall good stewards of the resources entrusted to them, and friendly good corporate citizens overall.
Exxon though in comparison have proven themselves to be hard to deal with, disengenious and with zero focus on thier end product consumers and employees when compared to thier shareholders.

 

[Pandora]

Probably next Monday, 6/23 or 6/30 the decision will come down from the USSC concerning the Exxon Valdez judgement against Exxon. I have little problem with other producers, especially BP and Conoco Phillips. Who have been overall good stewards of the resources entrusted to them, and friendly good corporate citizens overall.
Exxon though in comparison have proven themselves to be hard to deal with, disengenious and with zero focus on thier end product consumers and employees when compared to thier shareholders.

Can a state decide who they will work with?

Can Alaska say no to Exxon and yes to one of the others. If they cant, they should change the rules so they can. Either Exxon would shape up or ship out

 

[Pandora]

Ill point out that it has taken the state of Alaska bringing Exxon to court to revoke thier leases on the Pt. Thompson field because they have never moved to develop the resource despite thier promises to do so 20 something different times. Now they are saying they will drill. But who knows. It is long rumored and accused that Exxon has been sitting on this to limit supply to the consumer. Government money played a huge role in the development of the TAP.

Why is the government paying for any of it? and what government? state or fed.

the feds soak them in taxes so it wouldn't be so bad if they paid but the state who also soaks more or less owns the land and the oil, they should be getting some thing not paying.

 

[texas-vet]

It is really amazing how completely blinded some people are when it comes to PRESIDENT Bush or his polocies. He wants to do something to ease the constant complaining from the left about gas prices. When he does, they can't stand with America if it shines a better light on him. You people are pathetic when you sell your own country out just to appease a leftist democrat agenda.

 

[Pandora]

It is really amazing how completely blinded some people are when it comes to PRESIDENT Bush or his polocies. He wants to do something to ease the constant complaining from the left about gas prices. When he does, they can't stand with America if it shines a better light on him. You people are pathetic when you sell your own country out just to appease a leftist democrat agenda.

Hmm was that directed to me?

 

[Andy]

Bush is working really hard to help his oil buddies. It's not enough to have Mobil making billions of dollars and to have all the american people paying almost $ 5.00 a gallon. This guy is the stupidist person that I've ever known.
I wonder how much will his buddies pay him under the table after he leaves the office.

Um... how does this help the situation? To quote... 'wah wah'. Now how does that help ANYTHING?

Ok so what you suggest to help the oil market?

 

[Andy]

Yeah poor little Exxon Mobil, the largest private oil company in the world. In 2007 they only made a paltry $1252 a second or $111 million a day.

I admit it must be rough to keep a company afloat on such meager returns. Maybe if Exxon reined in the money they've been paying to AGW deniers they might be in better shape. Face it, Exxon Mobil stands for one thing...greed. Excuse me, two things...greed and pollution.

Again, none of this helps the situation. You are saying in essence... wah wah... ok... now looky... we're still in the same situation!

You want to cut Exxons profits? Here do this... flood the market with crude oil by opening all land for drilling and exploration, and the price of crude oil will drop through the floor... then they will not earn much off it.

Or you can stick with your plan, where because of constrained oil production, the price of crude oil continues to rise, and the oil companies make billions more.

Which plan do you want?

 

[Andy]

Considering Exxon earned some $40 billion last year and made record profits just last quarter, it would be interesting to have you explain just how you can call any amount of tax Exxon pays a "burden"

They paid billions in taxes. They are paying a fair share. Saying that simply because they earned so much more than they paid is the same as claiming that I only paid $4 thousand last year, and made 5 times that, I must be greed and not paying enough.

Ok, Exxon is successful, but just as you claim they shouldn't be punished, they also shouldn't be handed the keys to the country to drill, rape and spread their deadly poisonous ways. Believe it or not, drilling causes environmental damage. I ask you again...is there no place that is off limits to big oil?

See this is the most crazy backwards way of looking at things. Wake up! It is DUE to US not allowing them to drill, that causes supply to remain stagnate, while demand increases.... therefore... we have cause the high oil prices that we are currently paying.

So you... preventing them from drilling... are causing the high prices. Why do you not get this? Why is this so hard? Does NOBODY KNOW ECONOMICS?! Public education in America is really crappy it seems.

Worse yet, the moment someone has a proposal to fix the issue... everyone attacks them. "Duh... your plan might work... YOU SUCK!" What stupidity is this? You WANT to pay high gas prices?

 

[Andy]

Ill point out that it has taken the state of Alaska bringing Exxon to court to revoke thier leases on the Pt. Thompson field because they have never moved to develop the resource despite thier promises to do so 20 something different times. Now they are saying they will drill. But who knows. It is long rumored and accused that Exxon has been sitting on this to limit supply to the consumer. Government money played a huge role in the development of the TAP.

How long have they had the lease? One of the big issues with these large companies, and perhaps someone else can better explain... but if I understand it right, these companies are broken into parts in order to avoid are ignorant anti-trust laws. If a company owns the wells, the pipes, the refinery, the distribution, and the gas stations... that's considered a monopoly.

Thus, companies have to separate into units. Exxon drilling and exploration is nearly a different company, with it's own overhead and income and capital. So it's possible during the time where crude whole sale was cheap, they didn't have the capital to develop this land. Now obviously, since the price of crude is huge, the money is there to develop these locations.

Another possibility is that environmental regulations and fees, made developing the land unprofitable till now, which is why now they are.

What government money is Exxon receiving? Or maybe I'm not following what you said.

 

[Andy]

Probably next Monday, 6/23 or 6/30 the decision will come down from the USSC concerning the Exxon Valdez judgement against Exxon. I have little problem with other producers, especially BP and Conoco Phillips. Who have been overall good stewards of the resources entrusted to them, and friendly good corporate citizens overall.
Exxon though in comparison have proven themselves to be hard to deal with, disengenious and with zero focus on thier end product consumers and employees when compared to thier shareholders.

I'm their shareholder. I like that. I want the company doing what's best to make money, since it's my cash capital they are using to do it. Everyone who has a 401K, likely has tons of money in these companies. I don't want to bending over and taking from government. I want them to fight to protect my investment in their company, and I want them producing the best possible product, which they do, which is why they are number one!

When they are successful... I'm successful. What better way to fuel my car, than knowing I'm getting a slice of their profits.

 

[Bunz]

How long have they had the lease? One of the big issues with these large companies, and perhaps someone else can better explain... but if I understand it right, these companies are broken into parts in order to avoid are ignorant anti-trust laws. If a company owns the wells, the pipes, the refinery, the distribution, and the gas stations... that's considered a monopoly.

I know where you are going with this, the pipe is owned by TAPS usually. Other contract/ownership companies do other things. There is no question of monopoly. It was the CEO of major oil field contractor VECO that bribed at least 3 state lawmakers which has led to a major scandal that was happening in Alaska a 12-24 months ago. Lead to over 6 felony convictions ranging from CEO Bill Allen(who was already quite famous in Alaska and overall well liked) to 2 state reps and 1 senator. A much wider investigation is still taking place that could reach the US Senate.

Thus, companies have to separate into units. Exxon drilling and exploration is nearly a different company, with it's own overhead and income and capital. So it's possible during the time where crude whole sale was cheap, they didn't have the capital to develop this land. Now obviously, since the price of crude is huge, the money is there to develop these locations.

Exxon Mobil owns the majority of the leases at Pt Thompson and has owned them for at least 25 years. They did have the capital to develop it, what this really boils down to is the lawsuit over the spill.

Another possibility is that environmental regulations and fees, made developing the land unprofitable till now, which is why now they are.

What government money is Exxon receiving? Or maybe I'm not following what you said.

The State of Alaska is fetching up $500m and a fast track on any land issues and helping with the necessary infastructure to put in place the Alaska Gasline that will bring 35trillion cubic feet of natgas into the midwest, and bring the oil pipeline back to capacity, along with I am sure plenty of further investment through the PermFund.
The State of Alaska has bent over backwards to providing a resource to Americans through third party companies such as BP, Conoco, and Exxon who have taken 15bill barrels of oil so far.

 

[Bunz]

I'm their shareholder. I like that. I want the company doing what's best to make money, since it's my cash capital they are using to do it. Everyone who has a 401K, likely has tons of money in these companies. I don't want to bending over and taking from government. I want them to fight to protect my investment in their company, and I want them producing the best possible product, which they do, which is why they are number one!

When they are successful... I'm successful. What better way to fuel my car, than knowing I'm getting a slice of their profits.

Fair enough, I have nothing with you owning stock. Ultimately, the attitude and corporate practices they have undertaken in Alaska is hurting thier bottom line. They are going to lose the biggest untapped oil field outside of ANWR in America because of it. Shell on the other hand is fairly new to the state but has behaved themselves to this point, and it is rumored they will buy up the soon to be revoked leases.