Posted on 12/03/2014 2:18:51 PM PST by Kaslin
Oil companies average 4% profit while the government takes 15% profit (whoops, I mean tax). Who is profiting from our country’s “addiction to oil”?
Oh, so I guess they're supposed to just give it away for free - it's your right doncha' know. White privilege and all that...
That was the first thing I thought about too! Unless he is referring to the State and Federal governments, who add on way, WAY more in taxes than the "gigantic corporations" have obtained in profits.
At least those "gigantic corporations" do something like OBTAIN THE OIL FROM THE GROUND!
LOL...funny, we all stopped on the same passage!
I generally like the article except for that one passage, and it is possible I misunderstood it...it seems out of character with the rest of the article.
Strange idea? The industry had been doing the same for decades before. It took George a decade to come up with the right combination to be economic in the shale. But it wasn't a new idea, he just figured out the specific "recipe" to make it work in shale. No big break through, just years and millions of dollars of incremental improvements.
In his own words:
http://www.economist.com/blogs/schumpeter/2013/08/interview-george-mitchell
Great linked article, thackney, thanks for posting it!
It takes two. I figured the folks who kept paying willingly rather than change their behavior to stop the exploitation have a part in this, too.
Who’s your mama for oil?
Those petroleum, electrical, and mechanical engineers who mastered long and difficult college courses, and followed that by real work on real projects?
Or, the Dorkbama and his clueless marshmallow major idiots who have never run anything primarily because no real company would ever hire them?
One laughs to think of the Gruberdork doing anything but cleaning the batrooms on an oil rig. Economist, my as...er...Obamahole. Sounds like economics is rapidly joining the marshmallow major crowd.
One has to love this!
If you want more of that:
http://www.forbes.com/2009/07/16/george-mitchell-gas-business-energy-shale.html
EOG, Devon and some others took his work added horizontal steerable drilling and then is when it really took off.
It’ll be nice to see the US tell the OPECers to go pound sand along with the green weenie enviroMENTALists—they’d better get pounding, there’s a lot of sand over there and both groups have a lot of catching up to do...! And diesel fuel for transport industries better drop too, and with that, prices on products as well.
Remember that the elite do not want the peasants using THEIR energy.
That will be the underlying motive behind any energy policy implemented by democrats.
Here’s the flaw. Greenberg thinks about “big oil”. The fracking boom has been a God send for thousands and thousands of individual property owners who get a monthly royalty check - especially land owners in rural areas. The secondary positive effects of the oil boom have led to employment; oil field service expansion; rising property values; increased tax revenues for cities and counties.
Re: stopping on that passage.
Yes, and people with the slightest knowledge
of economics know that even corporations
don’t have control over prices. Even
a monopolist’s prices are governed by
economic forces. If the rapist corporations
are being evil in fat times, are they being
generous in lean times for them like today?
The only downside is that Obama may get the credit for the economic benefits, even though he opposed everything that enabled this.
Right. It is what the market will bear.
“But what’s the new Autocrat of All the Russias, aka Vladimir Putin, to do now? Some 45 percent of his country’s now shaky budget depends on oil revenues, and they’re dropping as fast as the ruble”: I wonder if this is the very “hook” that God will put into Russia’s jaw and drag it down to attack Israel?
Yes, they will not maximize profits
if their prices are too high, and they
will also not maximize profits if
their prices are too low. Regardless
of whether they are run by angels
or scoundrels, they cannot defy
the laws of economics.
Even monopolies.
If the ramifications of not understanding that by the very people who have power in this country over law and commerce, it would be funny if it were not so damned serious.
It ismisunderstood by the same people who think socialism is a great idea, price controls are a great idea, a minimum “living wage” is a great idea, and communism is a great idea, especially the Chinese Communist model.
Heck, we are all preaching to the choir here, aren’t we?
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