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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (154634)	7/30/2011 8:25:30 AM
From: Bearcatbob	16 Recommendations Read Replies (2) \| Respond to of 206087

I would like to know how energy company investment tax incentives compare to those of other industries. My sense of it has been that they were similar - but with different names. Until this is clarified - I think all of the ranting against oil industry tax breaks are simply selective demagoguery. I am a big believer that all corporations should be treated equally and that the government should not be picking winners and losers. Having special friends should not bring special gifts. Bob

To: elmatador who wrote (154634)	7/30/2011 11:35:56 AM
From: Salt'n'Peppa	10 Recommendations Read Replies (1) \| Respond to of 206087

"Yesterday, the big five oil companies, ExxonMobil, BP, ConocoPhillips, Chevron, and Shell posted combined profits of over $35 billion for the year to date." XOM alone employs more people that Apple and Google combined. XOM paid more in direct 2009 taxes ($15.1 billion) to the USA than Apple made in gross profit! XOM paid more in direct 2007 taxes ($30 billion) to the USA than Apple and Google made in gross profit combined! Anyone can have fun with statistics. S&P

To: elmatador who wrote (154634)	7/30/2011 3:42:34 PM
From: Sweet Ol	2 Recommendations Read Replies (4) \| Respond to of 206087

He got LIFO wrong, all it affects is the value of inventory. Eventually you empty the tank and value the product as the cost of the first barrel. It evens out eventually. I wonder what else he got wrong? As to the ITC, other industries don't have to capitalize normal expenses of doing business. I agree with BC that accounting should be simplified so engineers can understand it and it should apply equally to everyone. Blessings, JRH