Posted by pkurilecz on November 22, 2010 at 09:21:30 from (68.88.70.197):
In Reply to: Re: subsidies posted by rrlund on November 21, 2010 at 12:59:56:
I have to chuckle whenever I hear about the subsidies that oil and gas companies receive and guffaw when I hear about their "obscene" profits.
First off, they are mining companies. The locate deposits of oil and gas and then deplete them. Just in the same way that other mining companies are, be they iron, gold, potash, phosphate, gravel, or any other number of minerals.
Next time that you hear reports of obscene profits, even in the best of times, most publicly traded oil and gas companies have a net profit in the range of 10% to 12%, with occasionally 15%.
Compare this with the net profit of 20% to 25% reported by companies such as Microsoft, Cisco, AT&T, among others.
Even the big "evil" ExxonMobil produces only about 20% of the oil that they process and sell. The rest of it is bought on the open market from national oil companies.
As far as energy independence is concerned, we can cut energy consumption more quickly and with less capital than we can by producing more energy.
Any way this is my $0.02. Your opinion is probably different and just as about as wrong as mine. 8-))
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