Posted on 04/22/2012 4:44:53 AM PDT by jimbo123
Uncle Sam, in a desperate attempt to fix its $16 trillion-plus deficit, is leering over Americans’ retirement nest egg as its new bailout fund.
Capitol Hill politicians are assessing tax changes that could let the Internal Revenue Service lay claim to a portion of the $18 trillion sitting in 401(k) accounts and other tax breaks used by middle-class workers, including cutting the mortgage tax deduction.
(Excerpt) Read more at nypost.com ...
President Cristina Fernández de Kirchner
http://205.254.135.7/energy_in_brief/foreign_oil_dependence.cfm
In 2010 the United States imported 11.8 million barrels per day (MMbd) of crude oil and refined petroleum products. We also exported 2.3 MMbd of crude oil and petroleum products during 2010, so our net imports (imports minus exports) equaled 9.4 MMbd.
I agree with you on all that ...And to think that it only cost Osama Bin Laden half a million dollars to set all that into motion. The wars and real estate bubble (then bank collapse then taxpayer bailouts) courtesy of ultra low interest rates set by the Federal Reserve trying to juice the economy in the aftermath of 9-11
That is real financial leverage (that $500,000 spent)
Hey smartypants. Talk to the hand because the head knows you are a shyster. :)
http://205.254.135.7/dnav/pet/pet_move_wkly_dc_NUS-Z00_mbblpd_w.htm
The week of April 13th 2012, the US imported 8,718 thousand barrels of crude. And exported 38 thousand barrels of crude. We also exported 2,687 thosand barrels of refined products. But anyone with a third grade math education can see that our imports vastly exceeded our imports. So tell us again how we export all of our oil for the benefit of other countries. We are a net IMPORTER, and will be for a while - and especially if shrill, uninformed, hypocritical nitwits like you have any influence on energy development, or lack thereof as a result.
Ok lady, that is scary, you're suggesting the torture and execution of oil company employees.
Don't you think there's something wrong with that?
Hey dumbass - refute the hard statistics I just posted.
And more uninformed idiocy. The reason Argentina imports energy is because they don't have enough refining capacity, and have to import gasoline and other finished products - this may be news to you, but you can't run your car on unrefined crude. Since they cannot refine all of their own crude, they export what they cannot refine and make money off of that, instead of doing nothing with it.
And why does Argentina need to import finished products?
Argentina is South America’s largest natural gas producer and a significant producer of oil. However, the heavily regulated energy sector includes policies that limit the industry’s attractiveness to private investors while shielding consumers from rising prices. Consequently, demand for energy in Argentina’s rapidly growing economy continues to rise while production of both oil and gas are in decline – leading Argentina to depend increasingly upon energy imports.
And your solution is to what, cheerlead nationalization? Can you point to ANY such nationalization that has done squat for a country's economy? PEMEX is a wreck. Prime example of how your socialist dreamworld always craps out in the end.
The truth is out there if you bother to visit websites other than conspiracy idiocy.
I am enjoying reading this exchange but Sara, when you make it personal by naming and insulting a poster it looks like you don't have enough info to support your point.
Just saying...
Read the exchange more carefully. Dirtyboy melted down into insults so I cut him off.
He’s got nothing because he knows there is no guarentee the oil we pump in an expansion will do anything to reduce our dependence on foreign oil. It will become the property of the oil company and go on the global market. Period.
So when you hear they are going to pump US oil to reduce our dependence on foreign oil, that is only true if the lease with the oil companies reflect that agreement as a condition of the lease. Otherwise it is globalist bunk all over again, and again and again.
Sorry Sara, you lost me after "Dirtyboy".
Your debating skills suck.
Would the GOP House actually let the scumbags get away with stealing private retirement accounts?
I just can’t see it.
I showed that we still import far more than we export. And that most of our exports are almost entirely finished products because our consumption has dropped so much. We export to places like Argentina with crappy socialistic policies that you approve of that prevent them from having enough refining capacity to refine their own oil, so they have to import it.
It will become the property of the oil company and go on the global market. Period.
OK, Sara, YOU bid on the lease and figure out how to get it out of the ground, back to shore, refined and in your car.
** crickets **
I statistically refuted all of your nonsensical claims about exporting our oil. But I guess facts are not your currency of choice, so your uninformed and unsubstantiated rantings stand as a monument to your particular brand of socialistic ignorance. Hey, maybe there is an anti G-20 rally you could attend to join your other brethern who decry corporations as they eagerly gobble up what those corporations produce.
I need a drink....
Now it’s clear why you jumped in on me with your pal there.
So tell us, Sara - in your utopian world, should the US NOT export refined products even though we have excess capacity? Should oil companies instead close those refineries? Or should there be government policies - like Argentina's - that keep gasoline prices lower than world markets, like what is also done in countries such as Iran, which leads to budget-busting deficits.
So tell us, Sara - what would YOUR policies be to effect your view on the evils of global fungibility of oil and refined products? Anyone can complain. Give us a workable policy.
I don't understand this comment, please explain.
Thanks!
I don't understand this comment, please explain.
Thanks!
BHO is pure socialist evil!!!!!! He has to go!!!!!!
I did too and then I left the company and cashed out the 401(k). I chat with my former co-workers occasionally. One of them told me that he ended up $900 less than what he started at the beginning of 2011. So all of his contributions plus the companies contributions were for naught.
He would have been better off to have paid down debt directly.
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