To Drill or Not To Drill Is Still the Question – August 15, 2008
When ABC’s Charlie Gibson interviewed Rex Tillerson, CEO and chairman of ExxonMobile, Mr. Tillerson said some interesting things that Marbie’s been trying to point out, too. Tillerson tackled the issue of what many have called “obscene profits”.
“I saw someone characterize our profits the other day in terms of $1,400 in profit per second. Well, they also need to understand we paid $4,000 a second in taxes, and we spent $15,000 a second in cost, “We spend $1 billion a day just running our business. So this is a business where large numbers are just characteristic of it.”
Exxon Mobile invested 12.5 billion dollars in exploration expenditures in the first half of 2008. Did you get that? $12.5 billion in EXPLORATION EXPEDITURES IN SIX MONTHS!. 55% of their profits go to stock buybacks. That is when the company buys back a portion of their stock from investors, which increases the value of the stock held by investors. They sometimes choose that instead of raising the dividend. For further explanation visit http://dividendmoney.com/stock-buybacks-who-benefits-the-most/
They benefit Americans by increasing the value of their stock, exploring for new oil and gas and providing the base for thousands and thousands of products used every day all over the world. Like the computer screen you’re reading this on. The plastics in computer screens are by-products of oil.
Americans are paying high fuel and energy bills and the news media constantly broadcasts stories about it. The politicians take advantage of current dissatisfaction and whip up the voters’ sentiment, promising to beat up on “Big Oil”, if you just vote for them. But the people forget what ExxonMobile and other oil campanies provide for us.
Petroleum fuel. Nearly every plane, every train, every boat, every truck, every car going anywhere, delivering anything, transporting anything and anyone, everywhere and anywhere on earth is running on petroleum-derived fuel. Every engine involved in almost every industrial, agricultural, recreational machine, from chainsaws to tractors, lawnmowers to combines, is running on petroleum-derived fuel.
Anything made with plastic: toys, plastic bags, computer parts, coffee makers, plastic containers, the coating on paper cups, packaging, packaging tape, furnture and furniture covers, umbrellas, handles for everything, water pipes, trash cans, water hoses, plant amd flower pots and vases, water and soft drink bottles, lids for everything, phones, radios, television parts, wall outlets, light fixture parts, speakers, stereos, car parts, DVD’s, CD’s and their cases, 3.5 floppy discs and cases, cable and satellite boxes, mirror cases, A/C vents, signs, labels, staplers, office supplies, pens, candles, credit cards,……Everywhere you look are products derived from oil and YOU NEED THEM.
Then there are products made from polyesters, nylons, rubber, vinyls, styrofoam, florist supplies, asphalt, chemicals of all kinds, fertilizers, pesticides, herbicides, automobile fluids, paint, carpet, clothing, jewelry, key remotes, cleaners, waxes, sealers, glues, cosmetics, petroleum jelly (Vaseline), mineral oil, perfumes, deodorents, preservatives, pharmaceuticals including aspirin, cortisone and some antihistamines, surgeons’ latex gloves. I can’t possibly list everything derived from the oil industry.
Is it any wonder that “Big Oil” makes so much money when they make so much stuff possible?
When you hear politicians saying that we can’t drill our way out of whatever, just ask them how it will affect the whole world if we don’t. Are you ready to give up everything I’ve listed above and everything I forgot to list? I’m not. That would be too similar to the cave man days. Don’t forget all the jobs (employment) created by these industries. If you’re not in an oil or oil by-product related job, think of how difficult your job would be without the oil by-products you use in doing your job or how many customers you would loose without oil by-products. Say bye-bye to your computer, cell phone, land line phone, CD’s, Blackberry, Palm Treo, IPhone and IPod, etc.
Don’t be fooled by politicians. We need the oil companies and they need us. It’s a mutually beneficial partnership.
And don’t forget that $4,000 per second ExxonMobile alone pays in taxes. Taxes run our country. They contribute hugely. Add the taxes paid by all the other oil companies and you’ve got at the very least a GIGANTIC REASON NOT TO ATTACK OR HARM THE PROFITS OF OIL COMPANES IN AMERICA.
Call your representatives and tell them to stop attacking American oil companies and allow drilling for our own oil and gas resources now.
There is no more time to do nothing.