Musk making a power move to free Twitter

[LonghornMM]

Cali, the Chevron's, Exxon's, Valero's, etc. are businesses. They're in it to make a profit. It's no different than any other business. Reading through what you're saying, you think that they should absorb the rising cost of crude oil and reduce their profits? That's not a smart business model, and any company president who would do such a thing would be fired. I'm sure that you won't agree, but there isn't anything wrong with fossil fuel.

You may or may not be aware, but so many products that are produced are petroleum based. We can't just turn off the spigot on oil. This is common sense 101, and something that Democrats can't seem to comprehend. Not to mention how moving away from fossil fuels would cripple the world's economy and eliminate hundreds of thousands of jobs. Democrats don't see the long-term ramifications of their fairy tale agenda of a zero-carbon footprint. They think that the world is going to end because of global warming caused by industrialism. This is another in the long list of reasons why these liberal whack jobs need to be voted out!

 

[clob94]

Ok @clob94 you and I have never gone after each other and I appreciate that. You're in the oil and gas business and everyone is upset about the price of gas.

This man has strong opinions about big oil. I want to hear from you from where you disagree with me.

This morning I filled my car with gas, costing almost six dollars a gallon. My car is a Mini Cooper I bought years ago, partly because it wasn’t a gas-guzzler. Now it’s guzzling dollars.

Putin and Trump have convinced me: I was wrong about the 21st century | Robert Rei
When I consider what’s happening in Ukraine, I say what the hell. It’s a small sacrifice

Yet guess who’s making no sacrifice at all – in fact, who’s reaping a giant windfall from this crisi

Big oil has hit a gusher. Even before Vladimir Putin’s war, oil prices had begun to rise due to the recovery in global demand and tight inventorie


Last year, when Americans were already struggling to pay their heating bills and fill up their gas tanks, the biggest oil companies (Shell, Chevron, BP, and Exxon) posted profits totaling $75bn. This year, courtesy of Putin, big oil is on the way to a far bigger bonan

How are the oil companies using this windfall? I can assure you they’re not investing in renewables. They’re not even increasing oil productio

As Chevron’s top executive, Mike Wirth, said in September, “We could afford to invest more” but “the equity market is not sending a signal that says they think we ought to be doing that

Translated: Wall Street says the way to maximize profits is to limit supply and push up prices instea

So they’re buying back their own stock in order to give their stock prices even more of a boost. Last year they spent $38bn on stock buybacks – their biggest buyback spending spree since 2008. This year, thanks largely to Putin, the oil giants are planning to buy back at least $22bn mor

Republicans will balk at any tax increase on big oil, of cour
Make no mistake. This is a direct redistribution from consumers who are paying through the nose at the gas pump to big oil’s investors and top executives (whose compensation packages are larded with shares of stock and stock options)

Though it’s seldom discussed in the media, lower-income earners and their families bear the brunt of the burden of higher gas prices. Not only are lower-income people less likely to be able to work from home, they’re also more likely to commute for longer distances between work and home in order to afford less expensive housin

Big oil companies could absorb the higher costs of crude oil. The reason they’re not is because they’re so big they don’t have to. They don’t worry about losing market share to competitors. So they’re passing on the higher costs to consumers in the form of higher prices, and pocketing record profit

It’s the same old story in this country: when crisis strikes, the poor and working class are on the frontlines while the biggest corporations and their investors and top brass rake it i

What to do? Hit big oil with a windfall profits ta

The European Union recently advised its members to seek a windfall profits tax on oil companies taking advantage of this very grave emergency to raise their price

Democrats just introduced similar legislation here in the US. The bill would tax the largest oil companies, which are recording their biggest profits in years, and use the money to provide quarterly checks to Americans facing sticker shock as inflation continues to soa

It would require oil companies producing or importing at least 300,000 barrels of oil per day to pay a per-barrel tax equal to half the difference between the current price of a barrel and the average price from the years 2015 to 201

This is hardly confiscatory. Those were years when energy companies were already recording large profits. Quarterly rebates to consumers would phase out for individuals earning more than $75,000 or couples earning $150,00

Republicans will balk at any tax increase on big oil, of course. They and the coal-industry senator Joe Manchin even tanked the nomination of Sarah Bloom Raskin to the Fed because she had the temerity to speak out about the systemic risks that climate change poses to our econom

But a windfall profits tax on big oil is exactly what Democrats must do to help average working people through this fuel crisis. It’s good policy, it’s good politics and it’s the right thing to d

Robert Reich, a former US secretary of labor, is professor of public policy at the University of California at Berkeley and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. His new book, The System: Who Rigged It, How We Fix It, is out now. He is a Guardian US columnist. His newsletter is at robertreich.substack.c
This morning I filled my car with gas, costing almost six dollars a gallon. My car is a Mini Cooper I bought years ago, partly because it wasn’t a gas-guzzler. Now it’s guzzling dollars

Putin and Trump have convinced me: I was wrong about the 21st century | Robert Rei
When I consider what’s happening in Ukraine, I say what the hell. It’s a small sacrifice

Yet guess who’s making no sacrifice at all – in fact, who’s reaping a giant windfall from this crisi

Big oil has hit a gusher. Even before Vladimir Putin’s war, oil prices had begun to rise due to the recovery in global demand and tight inventorie


Last year, when Americans were already struggling to pay their heating bills and fill up their gas tanks, the biggest oil companies (Shell, Chevron, BP, and Exxon) posted profits totaling $75bn. This year, courtesy of Putin, big oil is on the way to a far bigger bonan

How are the oil companies using this windfall? I can assure you they’re not investing in renewables. They’re not even increasing oil productio

As Chevron’s top executive, Mike Wirth, said in September, “We could afford to invest more” but “the equity market is not sending a signal that says they think we ought to be doing that

Translated: Wall Street says the way to maximize profits is to limit supply and push up prices instea

So they’re buying back their own stock in order to give their stock prices even more of a boost. Last year they spent $38bn on stock buybacks – their biggest buyback spending spree since 2008. This year, thanks largely to Putin, the oil giants are planning to buy back at least $22bn mor

Republicans will balk at any tax increase on big oil, of cour
Make no mistake. This is a direct redistribution from consumers who are paying through the nose at the gas pump to big oil’s investors and top executives (whose compensation packages are larded with shares of stock and stock options)

Though it’s seldom discussed in the media, lower-income earners and their families bear the brunt of the burden of higher gas prices. Not only are lower-income people less likely to be able to work from home, they’re also more likely to commute for longer distances between work and home in order to afford less expensive housin

Big oil companies could absorb the higher costs of crude oil. The reason they’re not is because they’re so big they don’t have to. They don’t worry about losing market share to competitors. So they’re passing on the higher costs to consumers in the form of higher prices, and pocketing record profit

It’s the same old story in this country: when crisis strikes, the poor and working class are on the frontlines while the biggest corporations and their investors and top brass rake it i

What to do? Hit big oil with a windfall profits ta

The European Union recently advised its members to seek a windfall profits tax on oil companies taking advantage of this very grave emergency to raise their price

Democrats just introduced similar legislation here in the US. The bill would tax the largest oil companies, which are recording their biggest profits in years, and use the money to provide quarterly checks to Americans facing sticker shock as inflation continues to soa

It would require oil companies producing or importing at least 300,000 barrels of oil per day to pay a per-barrel tax equal to half the difference between the current price of a barrel and the average price from the years 2015 to 201

This is hardly confiscatory. Those were years when energy companies were already recording large profits. Quarterly rebates to consumers would phase out for individuals earning more than $75,000 or couples earning $150,00

Republicans will balk at any tax increase on big oil, of course. They and the coal-industry senator Joe Manchin even tanked the nomination of Sarah Bloom Raskin to the Fed because she had the temerity to speak out about the systemic risks that climate change poses to our econom

But a windfall profits tax on big oil is exactly what Democrats must do to help average working people through this fuel crisis. It’s good policy, it’s good politics and it’s the right thing to d

Robert Reich, a former US secretary of labor, is professor of public policy at the University of California at Berkeley and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. His new book, The System: Who Rigged It, How We Fix It, is out now. He is a Guardian US columnist. His newsletter is at robertreich.substack.c
omo.y.0.9.r.s.x.n.s.g..see.d..”n.za.s.s?.ch.omo.y.0.9.r.s.x.n.s.g..see.d..”n.za.s.s?.ch newsletter is at robertreich.substack.com

Cali,

I truly appreciate the conversation and I promise to address it fully and with respect tomorrow. I have literally just landed back in SA from Atlanta, but I promise after I awake tomorrow, have my breakfast and a solid poop, I will go through at length each and every of your valid points.

You have my word.

 

[Drtxhorn]

Actually the Biden administration has opened up the country for more oil production your sources are keeping facts like this away from you.

That’s just simply not true at all Cali. If the supply of oil is increasing in the USA as you claim, how do you explain the runaway inflation for gasoline? How do you explain our increasing dependence on foreign oil sources? How do you explain why Biden and the Dems tapped into our strategic oil reserves? If we apply some basic logic and economics it’s obvious the Democratic talking points don’t add up on this issue. Oil companies are generally making the same profits now as they were when oil was at $20 a barrel.

 

[Belldozer1]

Ok @clob94 you and I have never gone after each other and I appreciate that. You're in the oil and gas business and everyone is upset about the price of gas.

This man has strong opinions about big oil. I want to hear from you from where you disagree with me.

This morning I filled my car with gas, costing almost six dollars a gallon. My car is a Mini Cooper I bought years ago, partly because it wasn’t a gas-guzzler. Now it’s guzzling dollars.

Putin and Trump have convinced me: I was wrong about the 21st century | Robert Rei
When I consider what’s happening in Ukraine, I say what the hell. It’s a small sacrifice

Yet guess who’s making no sacrifice at all – in fact, who’s reaping a giant windfall from this crisi

Big oil has hit a gusher. Even before Vladimir Putin’s war, oil prices had begun to rise due to the recovery in global demand and tight inventorie


Last year, when Americans were already struggling to pay their heating bills and fill up their gas tanks, the biggest oil companies (Shell, Chevron, BP, and Exxon) posted profits totaling $75bn. This year, courtesy of Putin, big oil is on the way to a far bigger bonan

How are the oil companies using this windfall? I can assure you they’re not investing in renewables. They’re not even increasing oil productio

As Chevron’s top executive, Mike Wirth, said in September, “We could afford to invest more” but “the equity market is not sending a signal that says they think we ought to be doing that

Translated: Wall Street says the way to maximize profits is to limit supply and push up prices instea

So they’re buying back their own stock in order to give their stock prices even more of a boost. Last year they spent $38bn on stock buybacks – their biggest buyback spending spree since 2008. This year, thanks largely to Putin, the oil giants are planning to buy back at least $22bn mor

Republicans will balk at any tax increase on big oil, of cour
Make no mistake. This is a direct redistribution from consumers who are paying through the nose at the gas pump to big oil’s investors and top executives (whose compensation packages are larded with shares of stock and stock options)

Though it’s seldom discussed in the media, lower-income earners and their families bear the brunt of the burden of higher gas prices. Not only are lower-income people less likely to be able to work from home, they’re also more likely to commute for longer distances between work and home in order to afford less expensive housin

Big oil companies could absorb the higher costs of crude oil. The reason they’re not is because they’re so big they don’t have to. They don’t worry about losing market share to competitors. So they’re passing on the higher costs to consumers in the form of higher prices, and pocketing record profit

It’s the same old story in this country: when crisis strikes, the poor and working class are on the frontlines while the biggest corporations and their investors and top brass rake it i

What to do? Hit big oil with a windfall profits ta

The European Union recently advised its members to seek a windfall profits tax on oil companies taking advantage of this very grave emergency to raise their price

Democrats just introduced similar legislation here in the US. The bill would tax the largest oil companies, which are recording their biggest profits in years, and use the money to provide quarterly checks to Americans facing sticker shock as inflation continues to soa

It would require oil companies producing or importing at least 300,000 barrels of oil per day to pay a per-barrel tax equal to half the difference between the current price of a barrel and the average price from the years 2015 to 201

This is hardly confiscatory. Those were years when energy companies were already recording large profits. Quarterly rebates to consumers would phase out for individuals earning more than $75,000 or couples earning $150,00

Republicans will balk at any tax increase on big oil, of course. They and the coal-industry senator Joe Manchin even tanked the nomination of Sarah Bloom Raskin to the Fed because she had the temerity to speak out about the systemic risks that climate change poses to our econom

But a windfall profits tax on big oil is exactly what Democrats must do to help average working people through this fuel crisis. It’s good policy, it’s good politics and it’s the right thing to d

Robert Reich, a former US secretary of labor, is professor of public policy at the University of California at Berkeley and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. His new book, The System: Who Rigged It, How We Fix It, is out now. He is a Guardian US columnist. His newsletter is at robertreich.substack.c
This morning I filled my car with gas, costing almost six dollars a gallon. My car is a Mini Cooper I bought years ago, partly because it wasn’t a gas-guzzler. Now it’s guzzling dollars

Putin and Trump have convinced me: I was wrong about the 21st century | Robert Rei
When I consider what’s happening in Ukraine, I say what the hell. It’s a small sacrifice

Yet guess who’s making no sacrifice at all – in fact, who’s reaping a giant windfall from this crisi

Big oil has hit a gusher. Even before Vladimir Putin’s war, oil prices had begun to rise due to the recovery in global demand and tight inventorie


Last year, when Americans were already struggling to pay their heating bills and fill up their gas tanks, the biggest oil companies (Shell, Chevron, BP, and Exxon) posted profits totaling $75bn. This year, courtesy of Putin, big oil is on the way to a far bigger bonan

How are the oil companies using this windfall? I can assure you they’re not investing in renewables. They’re not even increasing oil productio

As Chevron’s top executive, Mike Wirth, said in September, “We could afford to invest more” but “the equity market is not sending a signal that says they think we ought to be doing that

Translated: Wall Street says the way to maximize profits is to limit supply and push up prices instea

So they’re buying back their own stock in order to give their stock prices even more of a boost. Last year they spent $38bn on stock buybacks – their biggest buyback spending spree since 2008. This year, thanks largely to Putin, the oil giants are planning to buy back at least $22bn mor

Republicans will balk at any tax increase on big oil, of cour
Make no mistake. This is a direct redistribution from consumers who are paying through the nose at the gas pump to big oil’s investors and top executives (whose compensation packages are larded with shares of stock and stock options)

Though it’s seldom discussed in the media, lower-income earners and their families bear the brunt of the burden of higher gas prices. Not only are lower-income people less likely to be able to work from home, they’re also more likely to commute for longer distances between work and home in order to afford less expensive housin

Big oil companies could absorb the higher costs of crude oil. The reason they’re not is because they’re so big they don’t have to. They don’t worry about losing market share to competitors. So they’re passing on the higher costs to consumers in the form of higher prices, and pocketing record profit

It’s the same old story in this country: when crisis strikes, the poor and working class are on the frontlines while the biggest corporations and their investors and top brass rake it i

What to do? Hit big oil with a windfall profits ta

The European Union recently advised its members to seek a windfall profits tax on oil companies taking advantage of this very grave emergency to raise their price

Democrats just introduced similar legislation here in the US. The bill would tax the largest oil companies, which are recording their biggest profits in years, and use the money to provide quarterly checks to Americans facing sticker shock as inflation continues to soa

It would require oil companies producing or importing at least 300,000 barrels of oil per day to pay a per-barrel tax equal to half the difference between the current price of a barrel and the average price from the years 2015 to 201

This is hardly confiscatory. Those were years when energy companies were already recording large profits. Quarterly rebates to consumers would phase out for individuals earning more than $75,000 or couples earning $150,00

Republicans will balk at any tax increase on big oil, of course. They and the coal-industry senator Joe Manchin even tanked the nomination of Sarah Bloom Raskin to the Fed because she had the temerity to speak out about the systemic risks that climate change poses to our econom

But a windfall profits tax on big oil is exactly what Democrats must do to help average working people through this fuel crisis. It’s good policy, it’s good politics and it’s the right thing to d

Robert Reich, a former US secretary of labor, is professor of public policy at the University of California at Berkeley and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. His new book, The System: Who Rigged It, How We Fix It, is out now. He is a Guardian US columnist. His newsletter is at robertreich.substack.c
omo.y.0.9.r.s.x.n.s.g..see.d..”n.za.s.s?.ch.omo.y.0.9.r.s.x.n.s.g..see.d..”n.za.s.s?.ch newsletter is at robertreich.substack.com

I have 2 answers for you and you’ve done everything to avoid confronting both of them. Imo the blame lies solely on Biden and Covid hoax shenanigans, shutdowns etc. It doesn’t get anymore cut and dried than that. Has nothing to do with Putin, those are facts. Putin and Beau Biden are crutches of convenience for Dildo Joe.Covid hoax absolutely changed the oil industry. -$37 oil? Really

 

[diadevic]

Democrat playbook 101 - when getting your a** kicked, change the topic. How did we go from Musk to Big Oil? Coming right up afterward when the oil debate is lost will be the personal attacks - you know, racist, homophobe, etc. predictable.

Where was Cali when oil was NEGATIVE $30/barrell? You do know Exxon’s revenue from 2019-2020-2021 went from $264b to $181b to $285b? Should we bail out in 2020? I wonder what is behind Exxon’s cutting research from $36b to $16b?

 

[Belldozer1]

Belldozer here's another another man running for POTUS.

https://www.washingtonpost.com/opinions/2022/04/14/greg-abbott-border-inspection-policy-hurt-texas-own-voters/?utm_campaign=wp_post_most&utm_medium=email&utm_source=newsletter&wpisrc=nl_most&carta-url=https%3A%2F%2Fs2.washingtonpost.com%2Fcar-ln-tr%2F3697296%2F625994ba64253a7f3433691c%2F5fe2d00bae7e8a2a74a87c7b%2F18%2F72%2F625994ba64253a7f3433691c

Your very own governor how proud you must be and your Secretary of Agriculture is pissed. Do any of you guys care at all?

I want a nasty mf’er in office and so do 75% of the American public. You may want to look around, you and your ideology are in the minority. It took 911 for a lot of Dems to wake up but once the dust settled they went back to their shitty ways, fortunately Biden is the new 911 and alot of Dems are scared to death of what he’s doing to this country. You better nut up and get on board or you’re going to be one depressed individual for the foreseeable future.

 

[clob94]

Ok @clob94 you and I have never gone after each other and I appreciate that. You're in the oil and gas business and everyone is upset about the price of gas.

This man has strong opinions about big oil. I want to hear from you from where you disagree with me.

This morning I filled my car with gas, costing almost six dollars a gallon. My car is a Mini Cooper I bought years ago, partly because it wasn’t a gas-guzzler. Now it’s guzzling dollars. Because California has gas taxes that rival those in Europe. Those have been put in place by governors like Newsome and Moon Beam-- and going back even farther.

Putin and Trump have convinced me: I was wrong about the 21st century | Robert Rei
When I consider what’s happening in Ukraine, I say what the hell. It’s a small sacrifice The price of gas would only drop about 40-50 cents if the war ended tomorrow. Gas prices slowly started to rise in January of 2021. When the POTUS walks out on stage and declares war on oil and gas companies, basically telling them that they are THE enemy of the environment. He threatened them. Then he stopped a pipeline being built in the US while giving his blessing for a pipeline between Russia and Germany. Immediately after, he cancels all drilling permits on federal lands (including offshore) which makes up about 30% of our oil supply. If you're used to paying $2.10 for gas, now it becomes .70-.90 cents higher. Add in another 40-50 cents for a war in Europe and viola-- near 4 dollar gas.

Yet guess who’s making no sacrifice at all – in fact, who’s reaping a giant windfall from this crisi uh.. ya. These guys got crushed in 2008 and again in 2014 when they over extended themselves. This time around they are being more conservative with their budgets. You can't blame them. They are running a business. Plus, if the POTUS says he's going to crush them and switch to green energy, don't you think they are fighting for survival?

Big oil has hit a gusher. Even before Vladimir Putin’s war, oil prices had begun to rise due to the recovery in global demand and tight inventorie Let's be fair-- July 11, 2008, oil hit $147 a barrel. Factor in inflation and that price today would be close to $200 a barrel--- oil is half that price now.

Last year, when Americans were already struggling to pay their heating bills and fill up their gas tanks, the biggest oil companies (Shell, Chevron, BP, and Exxon) posted profits totaling $75bn. This year, courtesy of Putin, big oil is on the way to a far bigger bonan yes.... it's called "capitaism". Did you jump on the drug companies and hospitals during covid when they price gouged the sh!t out of you, me, the tax payers and the insurance company?

How are the oil companies using this windfall? I can assure you they’re not investing in renewables. I can assure you they are. I am PERSONALLY involved in a project with one of the Super-majors that is focused on green tech. Chevron, last year, budgeted 400 million toward reducing their carbon footprint at the wellsite. They’re not even increasing oil productio You can't just run over the faucet and turn the spigot on and make more oil. It doesn't work that way. An oil field with 1 billion barrels in it takes decades to get all that oil out. The world uses right at 100 million barrels a day. 100m X 10 = 1 billion. So that billion barrel field would only power the world for 10 days..... You following me now? And billion barrel finds do not grow in trees my man.

As Chevron’s top executive, Mike Wirth, said in September, “We could afford to invest more” but “the equity market is not sending a signal that says they think we ought to be doing that True

Translated: Wall Street says the way to maximize profits is to limit supply and push up prices instea Because as soon as the oil companies start dropping billions into field development, all the Saudis have to do is flood the market with oil and all the big companies lose those billions-- making them vulnerable to a stock takeover..

So they’re buying back their own stock in order to give their stock prices even more of a boost. Last year they spent $38bn on stock buybacks – their biggest buyback spending spree since 2008. This year, thanks largely to Putin, This is a lie. II's placing all the blame on Putin in order to deflect from Biden's actions and stupidity. Yes, Putin has caused oil to go up in price, but Biden has had a MUCH larger impact the oil giants are planning to buy back at least $22bn mor Yup. Saving their pennies for a rainy day-- like the day the POTUS says or does something even more fvcking stupid than he's already done.

Republicans will balk at any tax increase on big oil, of cour Well, yes. Taxing the oil companies will simply make them transfer that cost from THEM to YOU. Duh. You think taxing them is going to make them "make" more oil? Please tell me you copied and pasted this from somewhere. I KNOW you aren't this stupid.
Make no mistake. This is a direct redistribution from consumers who are paying through the nose at the gas pump to big oil’s investors and top executives (whose compensation packages are larded with shares of stock and stock options) Buying back your stock is equal to investing in yourself. You may not like it, but it's a smart strategy.

Though it’s seldom discussed in the media, lower-income earners and their families bear the brunt of the burden of higher gas prices. Not only are lower-income people less likely to be able to work from home, they’re also more likely to commute for longer distances between work and home in order to afford less expensive housin Agreed. And Biden should have thought of that before opening his crumb catching pie hole. He inherited oil independence as well as 45 dollar oil prices. Then, with just a few stupid fvcking decisions and threats, he managed to scare up prices.

Big oil companies could absorb the higher costs of crude oil. The reason they’re not is because they’re so big they don’t have to. Now do covid and drug companies and hospitals. They don’t worry about losing market share to competitors. That is 100% false. Every company fights tooth and nail for market share. So they’re passing on the higher costs to consumers in the form of higher prices, and pocketing record profit Supply vs demand. We learned that in Jr High. It's not the oil company's job to lose money so you can drive your mini-cooper to work. Crazy thing is, oil company employees have to drive to work too.....

It’s the same old story in this country: when crisis strikes, the poor and working class are on the frontlines while the biggest corporations and their investors and top brass rake it i This is pretty much true in any big business, including green energy.

What to do? Hit big oil with a windfall profits ta And watch them transfer those tax costs straight to you-- the consumer.

The European Union recently advised its members to seek a windfall profits tax on oil companies taking advantage of this very grave emergency to raise their price And that got shut down about 37 seconds after it was brought up.

Democrats just introduced similar legislation here in the US. The bill would tax the largest oil companies, which are recording their biggest profits in years, and use the money to provide quarterly checks to Americans facing sticker shock as inflation continues to soa So you want to "nationalize" the oil company profits like they do in Saudi Arabia and distribute that money THROUGH the government, TO the citizens. Oh what could possibly go wrong with that idea?

It would require oil companies producing or importing at least 300,000 barrels of oil per day to pay a per-barrel tax equal to half the difference between the current price of a barrel and the average price from the years 2015 to 201 Isn't this called "price fixing"? Show me one example of the government inforcing price fixing that has ever worked. I'll wait........

This is hardly confiscatory. Those were years when energy companies were already recording large profits. Quarterly rebates to consumers would phase out for individuals earning more than $75,000 or couples earning $150,00 So not everybody gets this tax aid-- and btw- the oil companies will simply do what beef processors are doing right now. Cattle prices to the rancher are still about $1.40 a pound for a fed out steer. The price has barely moved up. Ranchers are getting KILLED right now. But the guys butchering and processing the meat are jacking up prices and reaping a windfall.

Republicans will balk at any tax increase on big oil, of course. Because they understand this voodoo economic sh!t wont work. They and the coal-industry senator Joe Manchin even tanked the nomination of Sarah Bloom Raskin to the Fed because she had the temerity to speak out about the systemic risks that climate change poses to our econom https://www.theguardian.com/environment/2004/feb/22/usnews.theobserver Here is an article from 2004 written by the smartest people on the planet saying we'd all be dying in the streets in 20 years because of climate change. They were, like Al Gore, fvcking wrong...... again..... as usual....

But a windfall profits tax on big oil is exactly what Democrats must do to help average working people through this fuel crisis. The cost of the tax will simply be covered by a price increase. More taxes = higher prices. Econ 101 freshman year . It’s good policy, it’s good politics and it’s the right thing to d

Robert Reich, a former US secretary of labor, is professor of public policy at the University of California at Berkeley Berkeley............. fvcking Berkeley.......and the author of Saving Capitalism: For the Many, Not the Few and The Common Good.<---- Carl Marx used to say this very thing. His new book, The System: Who Rigged It, How We Fix It, is out now. He is a Guardian US columnist. His newsletter is at robertreich.substack.c

you double posted

This morning I filled my car with gas, costing almost six dollars a gallon. My car is a Mini Cooper I bought years ago, partly because it wasn’t a gas-guzzler. Now it’s guzzling dollars

Putin and Trump have convinced me: I was wrong about the 21st century | Robert Rei
When I consider what’s happening in Ukraine, I say what the hell. It’s a small sacrifice

Yet guess who’s making no sacrifice at all – in fact, who’s reaping a giant windfall from this crisi

Big oil has hit a gusher. Even before Vladimir Putin’s war, oil prices had begun to rise due to the recovery in global demand and tight inventorie


Last year, when Americans were already struggling to pay their heating bills and fill up their gas tanks, the biggest oil companies (Shell, Chevron, BP, and Exxon) posted profits totaling $75bn. This year, courtesy of Putin, big oil is on the way to a far bigger bonan

How are the oil companies using this windfall? I can assure you they’re not investing in renewables. They’re not even increasing oil productio

As Chevron’s top executive, Mike Wirth, said in September, “We could afford to invest more” but “the equity market is not sending a signal that says they think we ought to be doing that

Translated: Wall Street says the way to maximize profits is to limit supply and push up prices instea

So they’re buying back their own stock in order to give their stock prices even more of a boost. Last year they spent $38bn on stock buybacks – their biggest buyback spending spree since 2008. This year, thanks largely to Putin, the oil giants are planning to buy back at least $22bn mor

Republicans will balk at any tax increase on big oil, of cour
Make no mistake. This is a direct redistribution from consumers who are paying through the nose at the gas pump to big oil’s investors and top executives (whose compensation packages are larded with shares of stock and stock options)

Though it’s seldom discussed in the media, lower-income earners and their families bear the brunt of the burden of higher gas prices. Not only are lower-income people less likely to be able to work from home, they’re also more likely to commute for longer distances between work and home in order to afford less expensive housin

Big oil companies could absorb the higher costs of crude oil. The reason they’re not is because they’re so big they don’t have to. They don’t worry about losing market share to competitors. So they’re passing on the higher costs to consumers in the form of higher prices, and pocketing record profit

It’s the same old story in this country: when crisis strikes, the poor and working class are on the frontlines while the biggest corporations and their investors and top brass rake it i

What to do? Hit big oil with a windfall profits ta

The European Union recently advised its members to seek a windfall profits tax on oil companies taking advantage of this very grave emergency to raise their price

Democrats just introduced similar legislation here in the US. The bill would tax the largest oil companies, which are recording their biggest profits in years, and use the money to provide quarterly checks to Americans facing sticker shock as inflation continues to soa

It would require oil companies producing or importing at least 300,000 barrels of oil per day to pay a per-barrel tax equal to half the difference between the current price of a barrel and the average price from the years 2015 to 201

This is hardly confiscatory. Those were years when energy companies were already recording large profits. Quarterly rebates to consumers would phase out for individuals earning more than $75,000 or couples earning $150,00

Republicans will balk at any tax increase on big oil, of course. They and the coal-industry senator Joe Manchin even tanked the nomination of Sarah Bloom Raskin to the Fed because she had the temerity to speak out about the systemic risks that climate change poses to our econom

But a windfall profits tax on big oil is exactly what Democrats must do to help average working people through this fuel crisis. It’s good policy, it’s good politics and it’s the right thing to d

Robert Reich, a former US secretary of labor, is professor of public policy at the University of California at Berkeley and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. His new book, The System: Who Rigged It, How We Fix It, is out now. He is a Guardian US columnist. His newsletter is at robertreich.substack.c
omo.y.0.9.r.s.x.n.s.g..see.d..”n.za.s.s?.ch.omo.y.0.9.r.s.x.n.s.g..see.d..”n.za.s.s?.ch newsletter is at robertreich.substack.com

Cali-- if you click on your statement above, I have addressed your statements in bold.

 

[Belldozer1]

Actually the Biden administration has opened up the country for more oil production your sources are keeping facts like this away from you.

Opened it more than who or what? I’m in the business too and don’t agree at all. 3 years ago we were drilling wells @$65 oil that we aren’t drilling now @$100 oil. You tell me Biden and the Covid hoax reset didn’t alter energy economics forever. I see it first hand daily.

 

[Belldozer1]

We haven’t even begun to see true inflation. Look how Biden just keeps burying America in debt and obligations. Who is paying for all these illegals he continues to ship in?
https://www.dailymail.co.uk/news/ar...charter-flights-migrants-Southern-border.html

 

[LAY THE WOODY]

That’s just simply not true at all Cali. If the supply of oil is increasing in the USA as you claim, how do you explain the runaway inflation for gasoline? How do you explain our increasing dependence on foreign oil sources? How do you explain why Biden and the Dems tapped into our strategic oil reserves? If we apply some basic logic and economics it’s obvious the Democratic talking points don’t add up on this issue. Oil companies are generally making the same profits now as they were when oil was at $20 a barrel.

Sleepy needs to goto sleep and stay there.

 

[Belldozer1]

Sleepy needs to goto sleep and stay there.

Covid dirt nap?

 

[dj701919]

If we could only find and a leader that could reduce our dependency on foreign oil.

Oil imports and exports - U.S. Energy Information Administration (EIA)

U.S. crude oil imports sources including OPEC and Persian Gulf, and top five source countries of U.S. oil imports and destinations of U.S. crude oil exports.

www.eia.gov

 

[outhereincali]

That’s just simply not true at all Cali. If the supply of oil is increasing in the USA as you claim, how do you explain the runaway inflation for gasoline? How do you explain our increasing dependence on foreign oil sources? How do you explain why Biden and the Dems tapped into our strategic oil reserves? If we apply some basic logic and economics it’s obvious the Democratic talking points don’t add up on this issue. Oil companies are generally making the same profits now as they were when oil was at $20 a barrel.

I'm asking do you do you think corporate greed has something to do with it?

I'm asking do you think corporate buy back stock has gotten out of hand? And it just isn't just the oil companies.

Not confronting just discussing.

 

[brushycreekhorn]

I'm asking do you do you think corporate greed has something to do with it?

I'm asking do you think corporate buy back stock has gotten out of hand? And it just isn't just the oil companies.

Not confronting just discussing.

There is no such thing as “corporate greed”. Companies act to maximize shareholder value. If you think corporate buybacks are out of hand feel free to vote for politicians who will change the laws regulating companies or buy their stock and petition the company to change their actions.

 

[diadevic]

I'm asking do you do you think corporate greed has something to do with it?

I'm asking do you think corporate buy back stock has gotten out of hand? And it just isn't just the oil companies.

Not confronting just discussing.

What is wrong with corporate buy back of stock?

 

[outhereincali]

What is wrong with corporate buy back of stock?

A lot when it comes to their rank and file. Chevron has frozen wages on many of their employees. Corporate buy backs are expected to exceed 1 trillion dollars this year. Right now there's to much power concentrated to a relative few. Which means the lack of a competitive economy. If we had that those people would have to lower their prices. But as it is today the buying power for the American consumer is shrinking. In post pandemic America these corporations are talking in record profits. They're doing it because they can but they don't consider why they can't.

"Greed is good"
Gordon Gekko

 

[diadevic]

A lot when it comes to their rank and file. Chevron has frozen wages on many of their employees. Corporate buy backs are expected to exceed 1 trillion dollars this year. Right now there's to much power concentrated to a relative few. Which means the lack of a competitive economy. If we had that those people would have to lower their prices. But as it is today the buying power for the American consumer is shrinking. In post pandemic America these corporations are talking in record profits. They're doing it because they can but they don't consider why they can't.

"Greed is good"
Gordon Gekko

A lot of words but no substance. A corporate buyback literally returns the money to the investors. Who owns Chevron?? Over half of american citizens. Do you have a mutual fund? I guaranty it owns CVX (unless it’s calpers). Returning funds to shareholders benefits the country as a whole. Unless you don’t believe in capitalism. Happy Easter Cali - despite our economic viewpoint differences I enjoy your unabashed Longhorn enthusiasm!

 

[Drtxhorn]

I'm asking do you do you think corporate greed has something to do with it?

I'm asking do you think corporate buy back stock has gotten out of hand? And it just isn't just the oil companies.

Not confronting just discussing.

No and no to answer both questions

 

[clob94]

I'm asking do you do you think corporate greed has something to do with it?

I'm asking do you think corporate buy back stock has gotten out of hand? And it just isn't just the oil companies.

Not confronting just discussing.

Greed is everywhere. I acknowledge this. But the kicker is that you nor I can define greed. Is greed wanting more than you need to survive? If so, the whole world is greedy. Is greed wanting to ski behind 2 yachts at the same time? Are CEOs overpaid? Yes..... pretty much all Fortune 500 companies overpay their CEOs. But the "greed" you're pointing at with regard to oil companies is the same greed that fueled the Covid crisis. It fueled the mortgage crisis. It fueled the green energy boondoggle. It fueled the tech wars. The difference is that all those other "greed" conflicts didn't revolve around a commodity.
Look-- when the oil and gas runs out, and it will- in about 300-350 years, unless we have invented a replacement for plastics that don't need carbon-- this is all over. All of it. The cars, the buildings, the internet, the airplanes, the hospitals, the medicine, the guns--- everything is gone.

Greed of money won't matter. It will be greed of something else.

As far as stock buybacks go-- think of them like this--

Cali-- in your youth you were probably considered a handsome guy. You probably had some female admirers. And of course, you were greedy and wanted a few more. So..... you went and bought some nice clothes. You spent money getting a nice hair cut to look sharp. You bought some fly new shoes. You fixed up your car. You did all this to improve who you were.

You invested IN YOURSELF. Why? Because nobody wants to invest in you unless you invest in yourself. And no girl wants to bump fuzzies with you if you don't at least try and look cool.

Stock buy backs are no different. Switch out the pvssy for money from investors and it's the same.

Get me?

 

[M_A_G_A]

 

[outhereincali]

A lot of words but no substance. A corporate buyback literally returns the money to the investors. Who owns Chevron?? Over half of anerican citizens. Do you have a mutual fund? I guaranty it owns CVX (unless it’s calpers). Returning funds to shareholders benefits the country as a whole. Unless you don’t believe in capitalism. Happy Easter Cali - despite our economic viewpoint differences I enjoy your unabashed Longhorn enthusiasm!

I'm losing faith in Longhorn fb. I don't think Sarkisian is going to get it done. Nations 5th ranked class? Aren't we always ranked high and little to show for it? It's not hard to understand poor player development.

Thanks for the happy Easter. My uncle was president of the Baylor alumni association. He owned the Baylor drug store his name was Roger Edens did you ever meet him.

 

[diadevic]

I'm losing faith in Longhorn fb. I don't think Sarkisian is going to get it done. Nations 5th ranked class? Aren't we always ranked high and little to show for it? It's not hard to understand poor player development.

Thanks for the happy Easter. My uncle was president of the Baylor alumni association. He owned the Baylor drug store his name was Roger Edens did you ever meet him.

I did not know him. But my first week at Baylor I bought the Van Halen debut album at a sidewalk sale at his store - bought alot of snacks there between classes at the business school across the street!

 

[freeper]

But my first week at Baylor I bought the Van Halen debut album at a sidewalk sale at his store

Man, that was a great album!! I was a sophomore in high school then. I still maintain that the opening riffs in "Ain't Talkin' 'Bout Love" are the greatest in rock history. Not for any particular technical genius, though Eddie Van Halen was certainly dropping his calling card with those, but because of the cultural shift in American music that they heralded.....

 

[2300 Nueces]

I wouldn't give up on Texas football just yet. I don't know if Sark will get it done but I do believe that NIL will be an advantage that will launch Texas back into the top 5 every year. It's going to take a few years but we are starting to bring in players that we didn't get or haven't seen since Mack.

Elon probably won't get twitter. The left is pushing the richest man in the world into the waiting arms of conservatives. What could go wrong for the left?

 

[Belldozer1]

Jack Dorsey running scared and doesn’t want the corruption and collusion with the Left exposed and doing everything in his power to stave off Musk.

 

[DHHorn]

Basically Cali thinks its unethical for companies/owners to turn a profit. Any profit made should result in price cuts and distributed to the employees. Fantasy land.

 

[Belldozer1]

Basically Cali thinks its unethical for companies/owners to turn a profit. Any profit made should result in price cuts and distributed to the employees. Fantasy land.

@outhereincali is having second thoughts after getting a small taste of living in Biden’s America. Although he and his ilk will never admit it, what they’d give for Orangeman to walk back through that Oval Office door.

And @outhereincali if you think you’re feeling the pinch at the pump and grocery store, we’re not even into Biden’s recession, it’s going to get way worse and it’s coming. Y’all should be proud.

And btw that 41% approval rating for Biden is total bullshit. Even though CNN is admitting it’s low there are not 41% of any crowd anywhere that think Biden is anything more than a waste of skin. His approval rating is more like 15%, that includes you and the few others

 

[JDCPAgolferHorn]

Basically Cali thinks its unethical for companies/owners to turn a profit. Any profit made should result in price cuts and distributed to the employees. Fantasy land.

For profit enterprises have different legal, tax, and ethical considerations than non-profits do. The board of a for profit company has a duty to act in the best interests of the corporation and shareholders. This is the legal duty of care. So, what is the duty of care with respect to shareholders? In part, maximize profits. In many instances, those profits are reinvested in the business with the intention of generating even more profits. Reinvestments occur in purchasing capital equipment, building more factories, or incurring R&D expenses.

There is no legal or tax requirement that companies reduce prices to minimize profits or redistribute its profits to employees.

Cali is espousing a certain belief system that will go unnamed. He’s opened up the kimono and we see what’s behind.

 

[westx]

Man, that was a great album!! I was a sophomore in high school then. I still maintain that the opening riffs in "Ain't Talkin' 'Bout Love" are the greatest in rock history. Not for any particular technical genius, though Eddie Van Halen was certainly dropping his calling card with those, but because of the cultural shift in American music that they heralded.....

Damn good song from start to finish.

 

[Belldozer1]

LOL Musk gonna force a showdown at the OK Corral between shareholders and board members. They aren’t just going to be allowed to shrug him off and think it’s over. Go get ‘em Musk!! I’m not even on Twitter but if Musk takes over, I’m in. Just because
https://www.dailymail.co.uk/news/article-10739757/Elon-Musk-launch-tender-offer-Twitter.html