@ Tim... mmmhhh how about don't give them tax breaks (i.e., have them paying the taxes that each corp should pay -33%) and maybe instead of racking in profits in excess of 10% of revenues (for most oil companies) they have a more acceptable 5%. And please, do not say that this would reduce R&D expenditures and such because net profit is AFTER all of those expenditures.
So, the tax breaks that we give oil corp come out of OUR pockets and go straight to the shareholders and management of such corporations, who "pump" back in the economy only a fraction of what they receive (how many villas or cars or yachts does one need?)
Period. There is no economic justification as to why oil corps have to have profit margins so high.
I am sure that your thoughts are shared by many people. I know I do. Yesterday, while listening to the interview of some NPR interviews of some officials of OK city and almost all of them said that you cannot prepare for something like this... you know, just like what they said for Katrina. In fact, it was found out that the aftermath of Katrina could have been avoided if some money had been spent to reinforce the levees on Lake Pontchartrain and that studies had shown that. Conversely, losses like OK city could be greatly mitigated or avoided altogether if some money is spent intelligently.
The reporters, clearly, were either clueless or oblivious to the fact that underground shelter can be built to protect people from hurricanes. Alas, no one asked the question as to why they had not been.
Why the US people do not see all of this? Or if they do, why do they keep sending their tax $$ over there (not only Israel, but Egypt and Jordan as well to keep playing nice with Israel)? File my questions under the rhetorical category...
@ Tim... mmmhhh how about don't give them tax breaks (i.e., have them paying the taxes that each corp should pay -33%) and maybe instead of racking in profits in excess of 10% of revenues (for most oil companies) they have a more acceptable 5%. And please, do not say that this would reduce R&D expenditures and such because net profit is AFTER all of those expenditures.
So, the tax breaks that we give oil corp come out of OUR pockets and go straight to the shareholders and management of such corporations, who "pump" back in the economy only a fraction of what they receive (how many villas or cars or yachts does one need?)
Period. There is no economic justification as to why oil corps have to have profit margins so high.
Thank you prof. Cole for this.
I am sure that your thoughts are shared by many people. I know I do. Yesterday, while listening to the interview of some NPR interviews of some officials of OK city and almost all of them said that you cannot prepare for something like this... you know, just like what they said for Katrina. In fact, it was found out that the aftermath of Katrina could have been avoided if some money had been spent to reinforce the levees on Lake Pontchartrain and that studies had shown that. Conversely, losses like OK city could be greatly mitigated or avoided altogether if some money is spent intelligently.
The reporters, clearly, were either clueless or oblivious to the fact that underground shelter can be built to protect people from hurricanes. Alas, no one asked the question as to why they had not been.
Why the US people do not see all of this? Or if they do, why do they keep sending their tax $$ over there (not only Israel, but Egypt and Jordan as well to keep playing nice with Israel)? File my questions under the rhetorical category...