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Cheap Oil in the Future?


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140 replies to this topic

#21
Prolite

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So you're going to believe tax information from Exon's own website!? Are you freakin kidding me? That's OBVIOUSLY propaganda. And again, thinking that lowering taxes on oil is going to lower the price of oil is utter ignorance about business. The primary purpose of business is to increase shareholder's wealth. This is the first thing you'll learn in business in college. You're a young man and you have a lot to learn. Your tea-bagging movement is what's currently destroying my country and I won't stand for it. And anyone else who wants to spew negative comments and propaganda about my country, the greatest country in the world, I will pursue you to the bitter end. You will NOT destroy the fabric of my country.

"Forbes magazine published what the top U.S. corporations paid in taxes last year. “Most egregious,” Forbes notes, is General Electric, which “generated $10.3 billion in pretax income, but ended up owing nothing to Uncle Sam. In fact, it recorded a tax benefit of $1.1 billion.” Big Oil giant Exxon Mobil, which last year reported a record $45.2 billion profit, paid the most taxes of any corporation, but none of it went to the IRS:


Exxon tries to limit the tax pain with the help of 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations in the likes of Angola, Azerbaijan and Abu Dhabi. No wonder that of $15 billion in income taxes last year, Exxon paid none of it to Uncle Sam, and has tens of billions in earnings permanently reinvested overseas."


I'm a business man, that's all you need to know about me.

#22
Innsertnamehere

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Though I am heavily left winged, I respect his opinion. He is not a tea party right wing nut job, he can express his opinion however stupid it might be. Let's make this simple for you. The reason car companies are interested in electric cars is because gas is exspensove, and People are willing to pay the extra money for them. If gas were to be lowered even more from some of the lowest levels in the world, the demand for these electric cars would vaporise and development of them would be cancelled. Then when we do run out of gas, there will be no cars to replace the current gas cars we have. That simple. Plus it is impossible to lower gas prices because it is a global Market. The only way to do this would be to cut all taxes on it and to subsidise it. This would sink the US government into even more debt, and quite possibly to the point where it defaults.

#23
Zachemc2

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So you're going to believe tax information from Exon's own website!? Are you freakin kidding me? That's OBVIOUSLY propaganda. And again, thinking that lowering taxes on oil is going to lower the price of oil is utter ignorance about business.

Would you hire people for drilling oil in a place with a 10% corporate tax rate or a place with a 35% corporate tac rate?

Your tea-bagging movement is what's currently destroying my country and I won't stand for it.

Never said I supported the tea party.
Also, from the source you just give me, it states the following:

Mind you, not all global megacorps enjoy such low tax rates. Try to muster some pity for Big Oil. ExxonMobilin its 2009 annual report to the SEC, recorded a larger income tax expense than any other U.S. company last year, some $17.6 billion, or 47% of pretax earnings.



#24
Zachemc2

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Though I am heavily left winged, I respect his opinion. He is not a tea party right wing nut job, he can express his opinion however stupid it might be. Let's make this simple for you. The reason car companies are interested in electric cars is because gas is exspensove, and People are willing to pay the extra money for them. If gas were to be lowered even more from some of the lowest levels in the world, the demand for these electric cars would vaporise and development of them would be cancelled. Then when we do run out of gas, there will be no cars to replace the current gas cars we have. That simple. Plus it is impossible to lower gas prices because it is a global Market. The only way to do this would be to cut all taxes on it and to subsidise it. This would sink the US government into even more debt, and quite possibly to the point where it defaults.

There will come a point in which driving an electric car will cost less then just obtaining oil. The US government should cut spending then it wouldn't have that problem with taxes.

#25
jjf3

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And again, thinking that lowering taxes on oil is going to lower the price of oil is utter ignorance about business. The primary purpose of business is to increase shareholder's wealth. This is the first thing you'll learn in business in college.


We don't need to lower taxes although the oil companies would love that, we just have to actually figure out ways to drill for the millions of barrels of oil already in the ground, while protecting the environment in a practical matter.



Your tea-bagging movement is what's currently destroying my country and I won't stand for it. And anyone else who wants to spew negative comments and propaganda about my country, the greatest country in the world, I will pursue you to the bitter end. You will NOT destroy the fabric of my country.


That my friend is brain-washing left wing Propaganda and there is no evidence to support your hypothesis. In fact, the Tea Party has only supported Presidential candidates since 2009.



"Forbes magazine published what the top U.S. corporations paid in taxes last year....


Where do you think Forbes got this information??? Out of the sky? Of course they got it from Exxon itself!!!!! So wouldn't Forbes be propaganda too??
"Did you really expect some utopian fantasy to rise from the ashes?" Thomas Zarek-- Battlestar Galactica.

#26
Zachemc2

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That my friend is brain-washing left wing Propaganda and there is no evidence to support your hypothesis. In fact, the Tea Party has only supported Presidential candidates since 2009.

One of the greatest comments I've ever seen on here.

#27
jjf3

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That my friend is brain-washing left wing Propaganda and there is no evidence to support your hypothesis. In fact, the Tea Party has only supported Presidential candidates since 2009.

One of the greatest comments I've ever seen on here.


People here seem to think that the tea party has been around forever. And has had a major impact in the GOP as a whole, when in reality it has not because Tea Party is a small group of the GOP. Oh, but that's probably right wing propaganda.(sarcasm) W/e.
"Did you really expect some utopian fantasy to rise from the ashes?" Thomas Zarek-- Battlestar Galactica.

#28
Zachemc2

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That my friend is brain-washing left wing Propaganda and there is no evidence to support your hypothesis. In fact, the Tea Party has only supported Presidential candidates since 2009.

One of the greatest comments I've ever seen on here.


People here seem to think that the tea party has been around forever. And has had a major impact in the GOP as a whole, when in reality it has not because Tea Party is a small group of the GOP. Oh, but that's probably right wing propaganda.(sarcasm) W/e.

On the CNN debate two weeks ago, they kept calling it the "Tea Party Republican Debate" instead of "Republican Presidential Debate". I'm tired of all of these people trying to make it look like the Tea Party is the Republican Party for the sole purpose of gerrymandering.

#29
jjf3

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That my friend is brain-washing left wing Propaganda and there is no evidence to support your hypothesis. In fact, the Tea Party has only supported Presidential candidates since 2009.

One of the greatest comments I've ever seen on here.


People here seem to think that the tea party has been around forever. And has had a major impact in the GOP as a whole, when in reality it has not because Tea Party is a small group of the GOP. Oh, but that's probably right wing propaganda.(sarcasm) W/e.



Yes I watched that as well and I thought it was odd. When Bachmann is the only member of the GOP officially on the Tea Party ballot. The GOP in general have various views on various things and they are not all the same. If people on here would actually do some research instead of watching MSNBC and listening to Colbert than they would know better.
"Did you really expect some utopian fantasy to rise from the ashes?" Thomas Zarek-- Battlestar Galactica.

#30
Zachemc2

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It was also weird in the debate (I can't remember if it was the CNN or MSNBC one) where they kept trying to turn them against each other and Newt kept calling them out on it. Newt totally pwned them on that. But seriously, the "debate people" kept trying to make them give each other personal attacks to make them look bad.

#31
Innsertnamehere

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You don't seem to understand. Electric cars WON'T get cheaper if there is no demand. If there is no demand for lighter, more effient batteries, why develop them!? And you do realise that if they were to cut spending, millions would die unnecarily, and millions more be left on the streets with their families when they run out of money? If they were to cut spending, be ready for the re-emergence of slums in the US.

#32
jjf3

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Cut government spending and millions will die??? Where's the logic in that statement? We can have a practical balance of research, development, and production for BOTH alternative ways to drill for oil and Electric Cars. If oil runs out by 2020s as some people are saying than it's likely we won't have the resources to support a full conversion to electric cars anyway. (at the rate Mass produced electric cars are coming out today). Why stop drilling for oil when there's plenty beneath us? Why stop production of electric cars while researching ways to get the oil?
"Did you really expect some utopian fantasy to rise from the ashes?" Thomas Zarek-- Battlestar Galactica.

#33
Zachemc2

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Cut government spending and millions will die??? Where's the logic in that statement?

We can have a practical balance of research, development, and production for BOTH alternative ways to drill for oil and Electric Cars. If oil runs out by 2020s as some people are saying than it's likely we won't have the resources to support a full conversion to electric cars anyway. (at the rate Mass produced electric cars are coming out today). Why stop drilling for oil when there's plenty beneath us? Why stop production of electric cars while researching ways to get the oil?

Thank you. I've been saying this the whole thread but some just don't seem to get it.

#34
jjf3

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Demand for Electric Cars is only about 2% world wide. We have a long way to go for Mass Produced Electric Cars to even dent the Hybrid Market.


http://www.aarp.org/...rough_2020.html
"Did you really expect some utopian fantasy to rise from the ashes?" Thomas Zarek-- Battlestar Galactica.

#35
Prolite

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Cutting taxes for oil companies, most of which aren't paying any taxes already (because of tax shelters and subsidies), and drilling for more oil isn't going to put a DENT in the price of oil because 1) these things are ALREADY being done 2) Oil speculation is driving up the price of oil. Ever since 1999 when Glass/Steagal Act was repealed by the corrupt Republicans in Congress (who are wholly owned by big oil by the way, and 3 Dems in the Senate, ahem Mary Landrieu), price of gasoline has more than tripled, and in just 7 years! WOW. Gee, I WONDER what could have caused that!? hmm.. oh yeah.. because of lack of regulation of banks and bank holdings companies which allow them to buy and sell oil, i.e.; oil speculation.

You guys can go on and on all you want about your Republican ways, but as far as I'm concerned, you're ignoring history. Even if I could invent a time machine and take you guys back to all of the events that caused the prices of oil to go up, you would cover your eyes and ears and say no no no. Figures.. the party of NO.
:laugh:
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#36
Zachemc2

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The prices went up because there was higher demand of oil due to a higher population however we are drilling less oil. Yes, actually less oil. We have bunches more, but you know... the government.
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#37
wjfox

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We have bunches more, but you know... the government.

You don't have "bunches more". Expensive and difficult to extract unconventional oil, perhaps, but not cheap crude. The fact is, America reached peak oil - just like many, many other countries have already done:

http://upload.wikime..._world_2004.png

You might see a temporary increase in production, but you'll never go back to the peak levels. New field discoveries peaked in the 60s -

http://upload.wikime.../GrowingGap.jpg

#38
Prolite

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We have bunches more, but you know... the government.

You don't have "bunches more". Expensive and difficult to extract unconventional oil, perhaps, but not cheap crude. The fact is, America reached peak oil - just like many, many other countries have already done:

http://upload.wikime..._world_2004.png

You might see a temporary increase in production, but you'll never go back to the peak levels. New field discoveries peaked in the 60s -

http://upload.wikime.../GrowingGap.jpg


Debating with Zach is like debating with a kid who's closing his/her eyes and putting their fingers in their ears all while screaming "LA LA LA LA LA LALA! ". There's no difference between tunnel vision and a brick wall, quite honestly.
I'm a business man, that's all you need to know about me.

#39
Prolite

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Cutting taxes for oil companies, most of which aren't paying any taxes already (because of tax shelters and subsidies), and drilling for more oil isn't going to put a DENT in the price of oil because 1) these things are ALREADY being done 2) Oil speculation is driving up the price of oil. Ever since 1999 when Glass/Steagal Act was repealed by the corrupt Republicans in Congress (who are wholly owned by big oil by the way, and 3 Dems in the Senate, ahem Mary Landrieu), price of gasoline has more than tripled, and in just 7 years! WOW. Gee, I WONDER what could have caused that!? hmm.. oh yeah.. because of lack of regulation of banks and bank holdings companies which allow them to buy and sell oil, i.e.; oil speculation
I'm a business man, that's all you need to know about me.

#40
KingstonDon

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We have bunches more, but you know... the government.

You don't have "bunches more". Expensive and difficult to extract unconventional oil, perhaps, but not cheap crude. The fact is, America reached peak oil - just like many, many other countries have already done:

http://upload.wikime..._world_2004.png

You might see a temporary increase in production, but you'll never go back to the peak levels. New field discoveries peaked in the 60s -

http://upload.wikime.../GrowingGap.jpg


Debating with Zach is like debating with a kid who's closing his/her eyes and putting their fingers in their ears all while screaming "LA LA LA LA LA LALA! ". There's no difference between tunnel vision and a brick wall, quite honestly.


I'm sorry but i'll have to agree,

He debates like a person living in an ideological slipstream that is yet to truly develop and find their own way of thinking of things.
Through trial and error => experience, education and proper damn research.

His far-gone unreasonable "dislike" for "government", as well as the typical misinformed sensationalist populist reasons for his dislike at his age is to me indicative of parental influence ..., which I wouldn't mind IF it was founded on facts and educated research :(

I'm just begging for educated arguments, haha.
I'm sorry I had to remark this ... but I'm getting that impression in discussions.




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