If Exxon made record breaking profits in the last quarter, why is McCain giving big oil 4 billion dollars ?

in tax cuts?


RECORD PROFITS would mean that after you have paid taxes, expenses, and pay roll, you have more money than ever. How does that make sense? And it is 4 billion dollars a year that WE taxpayers will make upIf Exxon made record breaking profits in the last quarter, why is McCain giving big oil 4 billion dollars ?
Here's your answer:


http://www.democrats.org/page/content/ex…





King K -Your smoke %26amp; mirrors don't confuse me. McCain has promised a massive tax break to Exxon. He has not promised a tax break to the other companies you listed.





Cisy W-How dare you call mountain ignorant?


“If they have schools for the gullable %26amp; ignorant Why aren't you there?” The word is spelled “gullible”. You need a comma after the word “ignorant”, and a lower-case “c” after the comma.





If Exxon made record breaking profits in the last quarter, why is McCain giving big oil 4 billion dollars ?
First of all, along with record profits, comes record expenses in the research and development of new fields. Right now, oil companies at paying about 60 to 75 MILLION dollars to get a new well drilled and ready for production. That is before the first drop of oil flows out the end of the pipe.





You will also note, most of the majors do not own gas stations and have not for a long time. They concentrate on exploration, production and refining oil.





While I don't think CEO's of ANY COMPANY, to include Wall Street and these failing banks, deserve MILLION dollar bonuses, I think we need to look realistically at what is going on.





Are we going to penalize Walmart for making a profit??? Well, most big retailers make 30-40% off their investment. Oil companies, as a rule, make 9-12% of theirs. Nothing says that new well will deliver enough oil to pay for itself. If it doesn't, then the oil company loses money. If it has a big reserve, oil companies make money.





Capitalism is founded on making a profit from hard work and investment. Congress, in its infinite stupidity, does not produce anything but red tape, higher taxes and steal from the citizens, legally.








Semper Fi
So McCain could have more house and let the big money guys keep the economic rope tight around your neck.


It is called extreme capitalism.


Unfortunately the common man voting for McCain is being brain washed to think that Obama is after their money.


If you already have so little, you have very little to loose.


The big oil guys control the money and the politicians especially McCain to some extent.


Obama wants to tax those with too much money but McCain wants to give those with too much money more money so you could be controlled.


How much money does an average human being need to live this our finite life?
You, clearly, have no grasp of economics and are totally ignorant of large numbers. Sure, XOM made a lot of dollars. However, they invested many more. XOM's profit margin (the percentage of profit to the cost of doing business) is not nearly as high as such companies as Microsoft, Johnson %26amp; Johnson, or even the incompetents at Yahoo.





Learn something before presenting your ignorance to a world-wide audience.





ADDENDA





For the research-challenged thumbs-downers,





Profit


Margin Company





28.78% Microsoft


24.41% Google


19.54% Johnson %26amp; Johnson


18.29% Intel


16.65% Altria


12.90% Yahoo (Yes, even Y!A is more profitable)


10.17% Exxon Mobil


===


';King K -Your smoke %26amp; mirrors don't confuse me';





No, Facts are smoke and mirrors? However, for those with little to no understanding of simple arithmetic and how business works, I can understand that you are easily confused. After all, Obama has snowed his hoard with no facts and vague promises of ';hope'; and ';change';. Mix in some truth and your synapses might fry.





Well, if you object to XOM (and CHV, BP, etc) so much, start your own business. I'm sure you'll have no problem rounding up the billions of dollars to get your people's company going. Uh, huh.


====


';McCain has promised a massive tax break to Exxon. He has not promised a tax break to the other companies you listed. ';





You're funny. Didn't you even read your own biased link? Let me present the pertinent question:





Question 1: Which of the following oil companies would reap hundreds of millions in new tax breaks under John McCain?





A. ExxonMobil


B. Chevron


C. ConocoPhillips


D. Valero Energy


E. Marathon


F. All of the Above





Answer Key: 1.F





What did I say about easily confused? ROTFLMAO!!!


===





Hey! Mountain! Here's some more smoke for you.


----


U.S. Oil Companies Paid, Collected More in Taxes Than They Made in Profits in 2006





According to the EIA, the major energy producing companies (listed here) like BP, Exxon (XOM), Shell (RDS.A), Chevron (CVX), etc. earned $131.5 billion in profits in 2006 (most recent year available, data here), see chart above.





Those same companies paid or collected: a) $90.445 billion in income taxes in 2006 to various governments in Europe and the Middle East, the U.S., Canada, Russia, etc., b) $8.25 billion in non-income taxes to the U.S. government (production taxes, sales taxes, property taxes, payroll taxes, etc. (data here), and c) $48 billion in U.S. excise taxes (data here), for a total of $146.8 billion.





Bottom Line: American oil companies paid and collected more taxes ($146.8 billion) in 2006 than they made in profits ($131.5 billion).


----





Did you pay your $146.8 Billion?
It's not a coincidence that our president, vice president, secretary of state, and about 30 other top-level members of the Bush administration come out of the oil industry. Oil profits is a top agenda item for Republicans. McCain just knows whose butt to smooch. He needs their campaign contributions desperately.
McCain supports BIG OIL!!!!!





More so that McCain claims to be anti-lobbyist, BUT the truth is he surround by many lobbyist. I would not be surprised to find out that BIG OIL is one of them!





(AHH someone else has already stated BIG OIL gave him 4.5 million ... so there is your answer! Scratch his back and he scratches yours!)





He also believes people people need to scrape and claw through life!!! While he has the privilege of owning 8 houses!
Bush is the biggest gangster in history. He allows this to go on to get his cut. McCain will allow it also to get his share of the money they are stealing from us. You do something for me I will do something for you. Nothing will change if McCain gets into office. He will just sit back and collect his billions from the gas companies just like Bush did.
Because he is not a socialist or Maxist like BHO. These are the people who create jobs in a capitalist free enterprise system. A system that says that you if you can conceive it, you can achieve it. BHO is all about the dumbing down of this once great country by NOt hold people accountable.
Because the big oil companies are huge supporters of the Republicans.





And why shouldn't they be?





After all, the Republicans made sure that they got huge tax credits.





And a McCain/Palin Presidency will continue this trend while we suffer at the gas pumps.
McCain signed the check? Wow, that man has SOME power, don't ya think?


I think you don't have a clue about the oil and gas industry. Don't feel bad. You have a boatload of company.


Go on, penalize the oil companies even more. Then watch what happens to our economy.
Exxon/Mobil, based in Texas, earned a record-breaking $15 Billion during the last 3 months, while consumers were paying the highest gas prices ever...





Yeah, let's have Repugs for another 4 years...
If they have schools for the gullable %26amp; ignorant Why aren't you there? How nice it must be for you to sit at your computer and try to make believe you know what you are talking about.
Because he is Bush and is for the wealthy. No other reason. Those gullible enough to believe anything he's said would learn a hard lesson, were he to win. But we know that's not going to happen.
This is a perfect example of who the republicans care about. Big oil, big business and rich people.





Vote OBAMA!
he is a republican, they take care of the very wealthy first then tell you it will trickledown to the middleclass





Never worked Never will





Obama Biden 2008
';He also believes people people need to scrape and claw through life!!! While he has the privilege of owning 8 houses!';





Ain't jealousy grand?
Because Exxon give McCain 4.5 million dollars for his campaign.
It is a very complicated issue .


Keep in mind Exxon only made about 7 percent return on investment .
Your assertions are not quite true but no matter how much we try to educate you, you will refuse to understand so why bother.
because republicans look out for big business not middle class americans.
It's what Republicans do. Give tax money to big oil, and other corporations. To hell with citizens.
Oh your talking about the bill that Obama and Biden voted yes on? Look it up.
you neglected to mention that Exxon PAID 8 Billion in Taxes this last quarter alone!!!!!
$400 million of those are tax breaks from Bush/cheney/McCain.
YOU MEAN THEY PAID RECORD BREAKING TAXES!!!





Some 40 BILLION In taxes alone! DUH!
How exactly did McCain do this?
can say he is, but the gas prices are shure dropping.
you'll be paying a lot more to support your brothers on the park benches.
GREED!



He has to, he is here because of them,
You don't site your source for McCain's tax cut. All he has said is that we wouldn't raise taxes. Now, Exxon and many other oil companies made huge profits in large part because of speculators driving the market. Our best bet is to stay involved with our local politicians to make sure our voices are heard.