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

To: Land Shark who wrote (30722)	10/5/2010 4:05:12 PM
From: longnshort	Read Replies (1) \| Respond to of 36917

an ice age is weather ???? lololol sure it is comrade

To: Land Shark who wrote (30722)	10/5/2010 4:05:54 PM
From: longnshort	Read Replies (1) \| Respond to of 36917

It seemed like a miracle that our President was able to convince BP to establish a $20 billion escrow fund to compensate those hurt by the oil plume in the Gulf of Mexico . After all, he had no constitutional power to force them to do so; so had to resort to Chicago-style negotiating. Ever wonder why BP made the concession so quickly? Take a closer look at the effect on BP’s finances for the answer: 1. BP will establish a $20 billion fund, but will pay only $7 billion into it during 2010. 2. BP is a British corporation, but has a very large operating entity in the US . However, only about 30% of its income is derived from the US. 3. By Generally Accepted Accounting Principles (GAAP), BP must book the entire $20 billion expense in the year accrued. Therefore, they will book a $20 billion expense in 2010, reducing their US tax liability by $7 billion. 4. The President also convinced this massive corporation to show their concern for the “small people” by withholding dividends to their shareholders for the last 3 quarters of 2010. This reduces their outward cash flow by about $7.5 billion, including approximately 40% of that amount to US citizens. If the Bush tax cuts survive through 2010, the US Treasury will lose another $450 million in taxes on that amount. No need to even discuss the effect on the US economy. Now, let's summarize the results into bullet points easily understood by all. BP Cash Flow: o Escrow funding ($7 billion) o Dividend saving $7.5 billion o Tax savings $7 billion o Net favorable cash flow: $7.5 billion US Treasury Tax Receipts: o from BP Corporate income tax .... minus $7.5 billion o from BP Shareholders’ income tax ..... minus $0.45 billion o Net loss of US dividend income tax receipts ..... minus $3.0 billion o Total tax receipts loss: $10.95 billion. A huge hit! Many feared this would happen. After all, our President was the most inexperienced man in the room. Did he “Kick Ass”, or did he get ”Sucker Punched”? Or, is this another 'backroom deal' Obama negotiated which will ultimately get him a huge financial 'plum'? Should Obama be negotiating anything dealing with money and finances at all? Bottom line: The $20 Billion BP is putting up will create a $7.5 Billion positive cash flow for BP this year and a $10.95 billion loss to our Treasury. But, Obama actually thinks he really did something special and “kicked ass’. In reality, BP executives are laughing at him and kicked his ass. He is in over his head when he starts dealing with savvy business people.

To: Land Shark who wrote (30722)	10/5/2010 5:05:47 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 36917

It's called La Nina. It's weather, not climate. Thick skulled idiots, like you, will never grasp the concept of climate vs. weather. and when I cited El Nino for the weather we had for the past year, the AGW crowd dismissed it. But you are right...we are in a La Nina cycle and should expect weather in each geographic region that is associated with La Nina for that particular area. It isn't climate weirding, it isn't global climate disruption, it isn't global warming.....it's simple weather patterns. And weather will change.