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Politics : The Environmentalist Thread -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (6489)5/24/2006 12:36:47 PM
From: Peter Dierks  Read Replies (2) | Respond to of 36917
 
I watched Bill O'Reilley last night lambasting the oil companies. The reason they are reporting such large profits is because they pay taxes on profits generated due to a quirk in the tax law that forces them to use a different method of calculating the cost of their inventory than they use for pricing. If they were allowed and forced to use the same method, the picture would be very different.

I won't bore you with the differences between LIFO, FIFO and NIFO. I doubt you would ever understand.



To: American Spirit who wrote (6489)5/24/2006 1:02:00 PM
From: JakeStraw  Respond to of 36917
 
What that fails to mention is the rising costs of extracting oil, the growing demand from countries like China and India, the change over from MTBE to ethanol, the different refining methods needed to satisfy individual state regulations, etc....



To: American Spirit who wrote (6489)5/24/2006 2:32:29 PM
From: JakeStraw  Read Replies (1) | Respond to of 36917
 
BTW, isn't oil acually cheaper than some brands of bottled water...?


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