You are absolutely correct. I think Neal Boortz was just illustrating the amount of tax money that is handed over to the imperial Federal Governement by 'Big Oil'. However, all of those 'obsene' profits that pay the salaries of everyone in the company and stock holders is taxable income/capital gains......

It is also important to point out that Exxon paid (collected) more taxes to the Federal Government than did the bottom 50% of wage earners in the U.S. For those of you in southern Florida (Rio Linda) and can't even figure out how a paper voting ballot works, wager earners are those people who actually have jobs and pay income tax.

LIFENTHEFASTLANE.....or however you spell it. :)
The question about "How did OUR oil get under THEIR sand?
" is classic!!! LMAO!

well said, jungle
 

I nominate the below post for Post of the Week. Completely spot-on, and debunks all the whiny behavior coming out of pilots over whom to blame for the high price of oil.

Jungle is correct for the following reasons:

1) He is correct factually regarding this issue
2) He takes excellent pictures
3) I am a little afraid of him

An excellent book for any interested in this topic is "The Prize" by Daniel Yergin - excellent book about the history and evolution of the oil business.

The ones I am ****ed at are the greedy Dairy Farmers. They get $4 per Gallon! FOUR DOLLARS per GALLON! for a product that:

1) Goes bad after a couple days (oil doesn't)

2) Is not difficult to locate - find a cow (as opposed to geographers finding a location, electronic logging, core samples, an exploratory well, and then...MAYBE...you find oil).

3) Is not a depleting commodity (cows and bulls can create more milk producers)

4) Is not dangerous to transport (Valdez, tanker trucks,etc...)

5) Milk does not explode and kill people when pastuerized (see this weeks refinery explosion).

6) A gallon of Milk can not make my 4,500lb, 400hp V8 car go a mile. A gallon of gas can make it go 15!

7) Milk does not have to be dispensed with expensive pumps and extreme measurement tolerances that include pay options - it just requires a plastic or glass jug and a fridge.

The Dairy Farmers are absolutely SCREWING US and you think the oil companies are bad.

I am done arguing about oil prices.

The fact is our enemies have our nation and our economy by the balls because we use oil. If we keep using gasoline to power automobiles, our enemies will keep having our economy by the balls. Airlines will never have a profit margin greater than 5%. First year major FO's will still be making poverty wages. Our economy will never reach its full potential. And people like jungle, cpoonfinal, and stinsonjr will still try to justify that oil is the best fuel for America.

I cannot wait for the day that our nation is free from oil (or atleast down 80% from todays usage level) so our economy can prosper to its fullest potential.

Until then, I hope the price of oil keeps going up and up and up. Where she'll stop... nobody knows. $200/$300/$400 a barrel... Go baby go.

Well, it doubled last year, no reason why it shouldn't double this year, and again in 2009. That gets us to $400/bbl by the beginning of 2010. That ought to put crack crude for turbine fuel refinement close to $500/bbl.
Gold should be going up along with it.

Buy Gold...

If you or the oil companies did not have to pay taxes, you would not lower your prices. The market has already shown it can pay what you are charging. Your profits would just go up. Prices rarely lower, even when costs decrease(except airline tickets). Have items that used to be more expensively made in the u.s. and are now made cheaply in china decreased in price to the consumer? I think not.

I have to disagree with you. If you and I both sell the same product and our overhead is reduced, you may choose to keep your prices the same but I'll lower mine just below yours. I'll take your business until you choose to lower your prices to match mine or just below mine. This novel idea is called capitalism/free market. Works every single time.

Allow drilling in Anwar...'nuff said.

And when we get to the point that the US is not dependent on oil, we won't be dependent on pilots or 1980's technology either.

With your strong conviction, why not open a commodities trading account and make millions. The brokers will be happy to take your bets, even though they may be way "out of the money".
Next thing you know you'll have your own GV and super models hanging all over you on your yacht.
With some of your money you could even found the company that produces the first practical electric car.
Just be aware that when everyone is sure of the market's direction it frequently marks the juncture of a sharp reversal.
Good luck and please send pics so we can share the joy of your success.:)

THE SKY IS FALLING!!!!! THE SKY IS FALLING!!!!!