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Orange Blooded [2638]
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Hall of Famer [24076]
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Re: For all you people crying about the govt
Mar 15, 2022, 5:01 PM
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I guess it's a good idea if you want to reduce the cost of capital and raise net income for the oil companies, while increasing gas prices.
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All-In [31901]
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Did you serious read that tag line and believe it?....
Mar 15, 2022, 5:05 PM
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For one, that figure is globally, not in the US.
And second, the figure is utter BS.
This is from the abstract of the study:
"Globally, fossil fuel subsidies were $5.9 trillion in 2020 or about 6.8 percent of GDP and are expected to rise to 7.4 percent of GDP in 2025. Just 8 percent of the 2020 subsidy reflects undercharging for supply costs (explicit subsidies) and 92 percent for undercharging for environmental costs and foregone consumption taxes (implicit subsidies). Efficient fuel pricing in 2025 would reduce global carbon dioxide global carbon dioxide emissions 36 percent below baseline levels, which is in line with keeping global warming to 1.5 degrees, while raising revenues worth 3.8 percent of global GDP and preventing 0.9 million local air pollution deaths per year. Accompanying spreadsheets provide detailed results for 191 countries."
92% of their calculation of global subsidies are implicit subsidies, largely based on "not charging companies for environment impacts". That doesn't raise a huge BS flag for you?
And also, thinking companies that operate in competitive markets need to be taxes because they "make too much" is obscene to me. Should the government have given the oil companies and their shareholders massive tax breaks specifically in 2020/2021 when they were getting killed? Exxon Q4 2020 had a net income of -$22.44BB.
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All-In [31901]
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*seriously****
Mar 15, 2022, 5:06 PM
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Orange Blooded [2638]
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All-In [31901]
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How? Can you explain it to me in your own words?***
Mar 15, 2022, 5:12 PM
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Orange Blooded [2638]
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All-In [31901]
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So , that's a "no"? I specifically asked if you could...
Mar 15, 2022, 9:16 PM
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explain it in your own words. Anyone can look up a fact sheet from an environment group clearly written by someone who doesn't understand business accounting.
Those things listed are just codified ways to treat oil and gas finances specifically because their business differs from most traditional businesses. The example of LIFO accounting is a good example. That is an accounting method used by all kinds of businesses and is covered under GAAP.
Same with being able to capitalize intangible development costs. Oil is somewhat unique in how the product is produced. This clause is under the generalized capital expenditure section and just lets oil companies capitalize development costs just like software companies, manufacturing companies, etc...can. It dang sure isn't a subsidy. People that say things like that haven't a clue as to how businesses are taxed on profits and how those profits are calculated.
To put it more simply, you just seem to be regurgitating what you've been told as opposed to actually understanding it.
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All-In [31901]
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So we're ending the discussion here?....
Mar 16, 2022, 6:32 PM
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I would have thought you would have had more to say (err copy and paste)on the subject.
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Hall of Famer [24076]
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Orange Blooded [2638]
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Hall of Famer [24784]
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Artificially inflated and arbitrarily priced environmental BS***
Mar 15, 2022, 6:08 PM
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All-TigerNet [13124]
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Re: How? Can you explain it to me in your own words?***
Mar 15, 2022, 6:50 PM
[ in reply to Re: How? Can you explain it to me in your own words?*** ] |
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The taxpayers also subsidize you at a higher rate than the oil companies. Send back your tax refunds, deductions, and stimulus payments; and maybe I’ll listen. Until then, just keep being a hypocrite.
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Orange Blooded [2638]
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Re: How? Can you explain it to me in your own words?***
Mar 15, 2022, 7:52 PM
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You really have no idea what you are talking about.
You just make stuff up and believe it.
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Lot o points [155941]
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Man stop digging.
Mar 16, 2022, 6:29 PM
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You pretty much got scorched in this thread. Just move on.
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110%er [7133]
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Re: Read that tag line & believe it?... impolite
Mar 15, 2022, 6:47 PM
[ in reply to Did you serious read that tag line and believe it?.... ] |
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Dear flow0440, there are many on TNet who believe it to be impolite to call a poster out for not having read the article which they link in his/her post.
Your penance will be many TDs (Thumbs Down). Brace yourself and beg forgiveness from the ignorant.
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All-TigerNet [10134]
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Re: For all you people crying about the govt
Mar 15, 2022, 6:08 PM
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Oils companies are reporting record high profits the last couple of weeks. Yeah, I’m not full of empathy. But hey, you have a narrative you are trying to fill. Did you also know that majority of the politicians have their hands deep in both the oil market and the U.S citizens?
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Hall of Famer [24784]
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Now check the last 5 years... You're looking at a snapshot.***
Mar 15, 2022, 6:13 PM
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110%er [7133]
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Re: For all you people crying about the govt
Mar 15, 2022, 7:20 PM
[ in reply to Re: For all you people crying about the govt ] |
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Good start Touch_The_Rock79 to have learned that politicians (both DEMs and REPUBs) have their hands deep in major USA industries ... this first step being aware of that happening with oil / gas companies.
Next on this 'energy' topic is Green Energy. For a while it was the DEMs getting all of the kickback money (campaign contributions from Green Energy companies that get whopping subsidies from the Fed. Gov't). But now the REPUBs have joined the Green Energy kick-back bonanza.
Pharma ... ditto.
Education system ... ditto.
Foreign aid ... ditto.
It goes on and on and on.
But think twice before wanting to impose higher gasoline and higher natural gas (home heating) prices on American consumers, unless you think that they share the virtue signaling value as offsetting their economic plight from not being able to afford the stuff that gets them back and forth to work and to heat their homes.
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All-In [40934]
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All-In [31901]
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All-TigerNet [10892]
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absolute bullsh*t.***
Mar 15, 2022, 7:41 PM
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Orange Blooded [2638]
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Re: absolute bullsh*t.***
Mar 15, 2022, 7:52 PM
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I know. Facts and reality are BS to you.
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All-TigerNet [10134]
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Re: For all you people crying about the govt
Mar 16, 2022, 6:27 PM
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I can assure you, neither the oil company nor career politicians are doing anything for the American for the American people!
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All-In [31901]
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As opposed to what entity/business?***
Mar 16, 2022, 6:28 PM
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