Some Facts To Think About:
1st Quarter Profits for 2011: Exxon-$10 billion profit -- a 60 percent increase. Shell is expected to post a healthy 22.2 percent gain, translating to $5.9 billion for the company, which is right on par with competitor Chevron's profits.
Last time Gas prises rose in 2008 the top 2 most profitable companies were oil companies with Exxon Mobil bringing in $45 billion profit. This made 2008 their most profitable year ever, with no other corporation coming close--ever.
In second place, we strike oil again with the Chevron Corporation. Chevron earned $23.9 billion profit
In 2009 the most profitable company was agian a Oil Company. Exxon Mobil 2009 profit: $19.3 billion
After the Great Recession
http://www.ehow.com/list_5814697_list-profitable-c...
http://abcnews.go.com/Business/high-gas-prices-rec...
http://money.cnn.com/galleries/2010/fortune/1004/g...
So After Reading This Do You Think Oil Companies Need Subsidies?????
Answers & Comments
Verified answer
Yes I do. Why on earth would you subsidize any body who is making millions in profits? Especially fossil fuels. We need to invest in new technology. This is the 21 century, fossil fuels are the 19 century. Why are we allowing these oil/ coal barons holding us back while they continue to pollute the environment. Wake up people the Koch bros and their ilk are playing us for suckers
If he(bushwhacked jr.) is a conflict criminal ! why isn't he in penitentiary ? (he's ABOVE THE regulation no one IN u . s . a . HAS THE BALLS TO ARREST HIM OR HIS acquaintances ) the theory that oil agencies do deserve subsidies and tax wreck is secure by THE REPUBLICAN social gathering ! Did you notice them on the recent each week in the past ,the republicans have been mad as hell on the belief of those 43billion earnings the 1st quarter of 2011 no longer getting their subsidies and tax breaks !wealthy human beings have rights and the republican social gathering has been paid to make certain that those rights at the instant are not messed with by democrats or the detrimental or working classification individuals !
IF the illegal regulations prohibiting drilling for new energy sources are abolished, I am all for abolishing oil subsidies. I don't want to pay $8 or more for a gallon of gas
Environmentalism is the new Dark Ages -style Dogma. Enviroterrorists hold inquisitions and carry out (political) burnings-at-the-stake all the time.
Sensible Americans need to revolt against these tiny but tyrannical lobby groups, and demand that American interests are put first, not some questionable environmental agenda.
Those evil millionaires and billionaires behind www.energytomorrow.org observe that:
"U.S oil and natural gas company earnings help keep America going strong. In 2010, the industry delivered $476 billion in revenue to the U.S. economy – more than three times the amount it earned. To put that in perspective, that is almost enough money to fund the U.S. Department of Education for the next 10 years. Like other industries, the oil and natural gas industry strives to maintain a healthy earnings capability. It does so to remain competitive in the global marketplace and to benefit its millions of shareholders across the country and in all walks of life."
Get that? Three times more tax revenue generated than profits earned.
Cut subsidies to the big ones and subsidize the small ones to break up the monopoly that is forming.
No more subsidies or tax breaks to the bums. Pluck Exxon.
Do you need some help understanding the difference between a government subsidy and an accelerated depreciation method for tax purposes for corporations? I think so.
I'm for cutting all the subsidies and loopholes across the board. Just like the republicans have not only stated, but put in legislation that the democrats tabled.
Yes.
Being we are more than broke all subsidies for all company's should be stopped.Look at what green hand out cost us including worthless ethanol.